CORN COMMENTS
The national average corn basis dropped 22 cents on the rollover to the December contract to stand 19 3/4 cents below futures. The national average cash corn price firmed 25 1/2 cents to $3.93.
Basis is much weaker than the three-year average of 37 3/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis dropped a dime to 20 1/2 cents below November futures. The national average cash price firmed 34 1/2 cents to $10.01.
Basis is much weaker than the three-year average of 57 3/4 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis fell 7 1/2 cents to 63 1/2 cents below December futures. The average cash price firmed 59 cents to $5.17 1/4. SRW basis is weaker than the three-year average of 56 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 15 3/4 cents on the rollover to the December contract to stand 56 1/4 cents below futures. The average cash price firmed 32 1/2 cents to $5.36 3/4. HRW basis is weaker than the three-year average of 45 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged $183.81 last week, down $1.73 from the previous week. Cash cattle are expected to trade mostly steady this week. Last year, the cash price was $182.28.
Choice boxed beef firmed $4.31 over the past week to $311.60. Last year at this time, Choice boxed beef prices were $313.57.
HOG COMMENTS
The average lean hog carcass price dropped $1.72 over the past week to $84.11. Last year’s lean carcass price on this date was $84.08.
The pork cutout value inched up a penny over the past week to $95.29. Last year at this time, the cutout price stood at $98.33.