The national average corn basis is improved 1 3/4 cents from last week to stand 3 1/2 cent under December futures. The national average cash corn price declined 30 cents from last week to $7.21 1/4.
Basis remains stronger than the three-year average, which is 17 cents below futures for this week.
The national average bean basis improved 1 1/2 cents from last week to stand 3 3/4 cents under November futures. The national average cash price declined 95 cents from last week to $15.69 1/4.
Basis is in line with the three-year average, which is 13 cents under futures for this week.
The national average soft red winter (SRW) wheat basis is up 13 cents from last week at 26 1/4 cents below December futures. The average cash price improved 1 cent to $8.43 1/4. The national average hard red winter (HRW) basis improved 1 3/4 cents from last week to 56 cents under December futures. The average cash price softened 13 3/4 cents to $8.38 1/2.
Basis is much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 84 cents under futures and 89 cents under futures for HRW.
National average cash steer bids ended last week at $125.32, down 59 cents from the previous week. Cash cattle trade is getting started at $123. Last year at this time, the cash price was $123.97.
Boxed beef prices softened $3.00 from last week, with Choice beef now at $192.45. Last year at this time, Choice boxed beef prices were $183.00.
The national average lean carcass bid improved $5.14 over the past week to $72.77. Last year's price on this date was $91.45.
The pork cutout value rose $3.58 from last week to $79.12. Last year at this time, the average cutout price stood at $97.78.