Midweek Cash Comments (VIP) -- January 16, 2013

January 16, 2013 10:12 AM
 

CORN COMMENTS

The national average corn basis improved 1/2 cent from last week to stand 13 1/4 cents over March futures. The national average cash corn price firmed 37 1/2 cents from last week to $7.44 1/2.

Basis remains much stronger than the three-year average, which is 10 cents below futures for this week.

 

 

SOYBEAN COMMENTS

The national average bean basis firmed 8 3/4 cents from last week to stand 35 3/4 cents over March futures. The national average cash price rose 59 3/4 cents from last week to $14.72 1/4.

Basis remains much better than the three-year average, which is 13 3/4 cents under futures for this week.

 

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis slipped 1 3/4 cents from last week to 4 1/4 cents below March futures. The average cash price firmed 37 3/4 cents to $7.80 3/4. The national average hard red winter (HRW) basis improved 11 cents from last week to 47 cents under March futures. The average cash price firmed 52 1/4 cents to $7.95 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 42 3/4 cents under futures and 71 cents under futures for HRW.

 

 

CATTLE COMMENTS

National average cash steer bid dropped $2.08 last week to $126.04. This week's cash cattle trade got started at $125.00 in the Plains. Last year at this time, the cash price was $125.64.

Boxed beef prices firmed 28 cents from last week, with Choice beef now at $193.83. Last year at this time, Choice boxed beef prices were $182.53.

 

 

HOG COMMENTS

The national average lean carcass bid firmed 72 cents over the past week to $84.76. Last year's price on this date was $84.77.

The pork cutout value improved $1.27 from last week to $84.25. Last year at this time, the average cutout price stood at $85.33.

 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close