The national average corn basis improved 1/2 cent from last week to stand 6 1/4 cents over December futures. The national average cash corn price declined 11 cents from last week to $7.50 3/4.
Basis remains stronger than the three-year average, which is 9 cents below futures for this week.
The national average bean basis improved 4 1/4 cents from last week to stand 4 1/2 cents over January futures. The national average cash price declined 37 1/2 cents from last week to $15.11 1/2.
Basis is better than the three-year average, which is 20 cents under futures for this week.
The national average soft red winter (SRW) wheat basis improved 6 1/4 cents from last week to 13 1/2 cents below December futures. The average cash price improved 35 3/4 cents to $8.80 1/2. The national average hard red winter (HRW) basis improved 6 1/2 cents from last week to 45 1/2 cents under December futures. The average cash price improved 34 cents to $8.83.
Basis is better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 47 cents under futures and 78 cents under futures for HRW.
National average cash steer bids last week declined 41 cents to $126.17. Cash cattle trade is expected steady to lower this week. Last year at this time, the cash price was $122.87.
Boxed beef prices fell 84 cents from last week, with Choice beef now at $193.93. Last year at this time, Choice boxed beef prices were $189.25.
The national average lean carcass bid fell $1.49 from the past week to $82.49. Last year's price on this date was $88.51.
The pork cutout value firmed 18 cents from last week to $85.97. Last year at this time, the average cutout price stood at $90.43.
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