The national average corn basis firmed a penny over the past week to stand $1.03 over September futures. The national average cash corn price fell 29 3/4 cents from last week to $5.71 1/4.
Basis remains much stronger than the three-year average, which is 3 1/4 cents above futures.
The national average bean basis firmed a penny from week-ago to $1.41 3/4 over September futures. The national average cash price fell 40 cents from last week to $13.07 1/2.
Basis remains much better than the three-year average, which is 30 1/4 cents over futures for this week.
The national average soft red winter (SRW) wheat basis firmed 2 1/2 cents to 12 1/4 cents below September futures. The average cash price fell 23 1/4 cents to $6.31 1/4. The national average hard red winter (HRW) basis improved 3/4 cent from last week to 13 1/2 cents under September futures. The average cash price dropped 8 1/2 cents to $6.85 1/2.
Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 39 1/2 cents under futures and 71 1/2 cents under futures for HRW.
National average cash steer bid softened 19 cents last week to $120.03. Cash cattle trade has yet to get started, but traders are hoping for steady to firmer prices compared with last week. Last year at this time, the cash price was $119.51.
Boxed beef prices firmed $2.34 from last week, with Choice beef now at $188.66. Last year at this time, Choice boxed beef prices were $181.42.
The national average lean carcass bid firmed 22 cents over the past week to $101.08. Last year's price on this date was $93.62.
The pork cutout value firmed $4.09 from last week to $104.68. Last year at this time, the average cutout price stood at $91.71.