The national average corn basis softened 9 1/4 cents from last week to stand 1 1/2 cents over March futures. The national average cash corn price declined 30 cents from last week to $7.31.
Basis remains much stronger than the three-year average, which is 14 cents below futures for this week.
The national average bean basis firmed a penny from last week to stand 12 1/2 cents over January futures. The national average cash price declined 2 3/4 cents from last week to $14.88 1/4.
Basis is much better than the three-year average, which is 7 cents under futures for this week.
The national average soft red winter (SRW) wheat basis firmed 1/4 cent from last week to 18 cents below March futures. The average cash price declined 47 3/4 cents to $7.94. The national average hard red winter (HRW) basis improved 7 cents from last week to 49 cents under March futures. The average cash price softened 33 1/2 cents to $8.16 1/4.
Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 42 cents under futures and 79 cents under futures for HRW.
National average cash steer bid declined $1.98 last week to $123.81. Early expectations are for steady to firmer cash trade this week. Last year at this time, the cash price was $124.58.
Boxed beef prices improved 89 cents from last week, with Choice beef now at $195.78 Last year at this time, Choice boxed beef prices were $188.72.
The national average lean carcass bid improved $2.04 over the past week to $84.51. Last year's price on this date was $85.66.
The pork cutout value have declined $2.24 from last week to $83.58. Last year at this time, the average cutout price stood at $90.84.