CORN COMMENTS
The national average corn basis firmed 2 cents to 3/4 cent above May futures. The national average cash corn price firmed 9 1/4 cents to $4.82.
Basis is weaker than the three-year average of 15 1/4 cents above futures.
SOYBEAN COMMENTS
The national average soybean basis firmed 4 1/4 cents to 6 cents above May futures. The national average cash price dropped 27 1/2 cents to $10.42.
Basis is weaker than the three-year average of 9 1/2 cents above futures.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis firmed a penny to 40 3/4 cents below May futures. The average cash price firmed 3/4 cent to $5.01 1/4. SRW basis is better than the three-year average of 47 3/4 cents under futures.
The national average hard red winter (HRW) wheat basis dropped 10 1/2 cents to 61 1/2 cents below May futures. The average cash price fell 25 1/2 cents to $4.91 1/2. HRW basis is much weaker than the three-year average of 46 1/4 cents under futures.
CATTLE COMMENTS
Cash cattle trade averaged 207.70 last week, down $3.44 from the previous week. Cash cattle are expected to trade lower again this week. Last year, the cash price was $182.67.
Choice boxed beef dropped $2.43 over the past week to $335.43. Last year at this time, Choice boxed beef prices stood at $296.78.
HOG COMMENTS
The average lean hog carcass price dropped $2.75 over the past week to $82.98. Last year’s lean carcass price on this date was $89.32.
The pork cutout value firmed 97 cents over the past week to $91.73. Last year at this time, the cutout price stood at $99.55.