Midweek Cash Markets (VIP) -- June 12, 2013

June 12, 2013 11:31 AM
 

CORN COMMENTS

The national average corn basis improved 7 1/2 cents over the past week to stand 54 1/2 cents over July futures. The national average cash corn price softened 2 1/4 cents from last week to $7.05 1/4.

Basis remains much stronger than the three-year average, which is 13 cents above futures.

 

SOYBEAN COMMENTS

The national average bean basis improved 3 1/2 cents from last week to stand 22 cents over July futures. The national average cash price firmed 12 1/4 cents from last week to $15.62 3/4.

Basis remains much better than the three-year average, which is 11 cents over futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 6 1/2 cents to 1/2 cent above July futures. The average cash price softened 11 cents to $6.83 1/2. The national average hard red winter (HRW) basis firmed 5 cents from last week to 9 1/2 cents under July futures. The average cash price declined 22 1/4 cents to $7.07.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 9 1/2 cents under futures and 60 1/2 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid dropped $1.83 last week to $122.81. Cash cattle trade is still uncertain for this week. Last year at this time, the cash price was $119.52.

Boxed beef prices fell $2.61 from last week, with Choice beef now at $201.79. Last year at this time, Choice boxed beef prices were $197.76.

 

HOG COMMENTS

The national average lean carcass bid rose $2.78 over the past week to $98.76. Last year's price on this date was $92.06.

The pork cutout value improved $4.13 from last week to $99.26. Last year at this time, the average cutout price stood at $97.02.

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