The national average corn basis is down 2 cents from last week to stand 1/2 cent above December futures. The national average cash corn price declined 24 3/4 cents from last week to $7.91 1/2.
Basis remains stronger than the three-year average, which is 19 cents below futures for this week.
The national average bean basis declined 14 1/2 cents from last week to stand 6 cents above November futures. The national average cash price declined 20 cents from last week to $17.53 1/2.
Basis is below the three-year average, which is 41 cents above futures for this week.
The national average soft red winter (SRW) wheat basis is down 11 cents from last week at 29 1/4 cents below September futures. The average cash price declined 28 3/4 cents to $8.38 1/2. The national average hard red winter (HRW) basis slipped 22 3/4 cent from last week to 63 1/2 cents under September futures. The average cash price slipped 32 cents to $8.23 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 86 cents under futures and 98 cents under futures for HRW.
National average cash steer bids ended last week at $121.49, up $1.24 cents from the previous week. Cash cattle trade is expected to be steady to $1 higher compared with last week. Last year at this time, the cash price was $116.95.
Boxed beef prices improved 22 cents from last week, with Choice beef now at $191.14. Last year at this time, Choice boxed beef prices were $180.38.
The national average lean carcass bid softened $5.99 over the past week to $77.29. Last year's price on this date was $89.14.
The pork cutout value fell $4.53 from last week to $78.06. Last year at this time, the average cutout price stood at $94.96.