The national average corn basis improved 1 cent from last week to stand 21 cents over March futures. The national average cash corn price declined 26 cents from last week to $7.16 1/2.
Basis remains stronger than the three-year average, which is 1 3/4 cents below futures for this week.
The national average bean basis softened 3/4 cent from last week to stand 23 1/4 cents over March futures. The national average cash price declined 65 1/4 cents from last week to $14.46 1/4.
Basis remains much better than the three-year average, which is 5 cents under futures for this week.
The national average soft red winter (SRW) wheat basis improved 5 3/4 cents from last week to 1 cent above March futures. The average cash price declined 20 1/4 cents to $7.36 1/4. The national average hard red winter (HRW) basis improved 5 cents from last week to 37 1/2 cents under March futures. The average cash price declined 24 1/2 cents to $7.42 3/4.
Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 36 cents under futures and 68 cents under futures for HRW.
National average cash steer bid softened 31 cents last week to $124.87. Light cash cattle trade was reported yesterday at $123, but no active trade has yet been reported. Last year at this time, the cash price was $128.03.
Boxed beef prices declined 26 cents from last week, with Choice beef now at $183.68. Last year at this time, Choice boxed beef prices were $189.38.
The national average lean carcass bid softened 96 cents over the past week to $88.96. Last year's price on this date was $87.19.
The pork cutout value declined $2.45 from last week to $79.96. Last year at this time, the average cutout price stood at $88.21.