CORN COMMENTS
The national average corn basis dropped 5 1/4 cents to 26 3/4 cents below December futures. The national average cash corn price firmed 2 3/4 cents to $3.86.
Basis is much weaker than the three-year average of 11 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 6 1/4 cents to 24 cents below November futures. The national average cash price firmed 19 3/4 cents to $9.90.
Basis is much weaker than the three-year average of 17 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis fell 21 1/4 cents to 89 cents below December futures. The average cash price dropped 24 3/4 cents to $4.86 3/4. SRW basis is much weaker than the three-year average of 56 1/4 cents under futures.
The national average hard red winter (HRW) wheat basis inched up 1/4 cent to 56 cents below December futures. The average cash price dropped 9 1/2 cents to $5.22 1/2. HRW basis is weaker than the three-year average of 45 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $182.11 last week, up 93 cents from the previous week. Cash cattle are expected to trade steady/higher this week. Last year, the cash price was $184.73.
Choice boxed beef dropped $5.98 over the past week to $301.38. Last year at this time, Choice boxed beef prices were $301.26.
HOG COMMENTS
The average lean hog carcass price dropped $1.42 over the past week to $82.16. Last year’s lean carcass price on this date was $84.23.
The pork cutout value firmed $1.50 over the past week to $94.41. Last year at this time, the cutout price stood at $99.22.