Midweek Cash Markets (VIP) -- June 19, 2013

June 19, 2013 11:19 AM
 

CORN COMMENTS

The national average corn basis improved 1 1/4 cents over the past week to stand 55 3/4 cents over July futures. The national average cash corn price firmed 32 3/4 cents from last week to $7.38.

Basis remains much stronger than the three-year average, which is 11 3/4 cents above futures.

 

SOYBEAN COMMENTS

The national average bean basis improved 15 3/4 cents from last week to stand 37 3/4 cents over July futures. The national average cash price softened 2 cents from last week to $15.60 3/4.

Basis remains much better than the three-year average, which is 11 3/4 cents over futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 8 1/2 cents to 9 cents below July futures. The average cash price firmed 14 1/2 cents to $6.98. The national average hard red winter (HRW) basis firmed 1 1/2 cents from last week to 7 cents under July futures. The average cash price firmed 32 3/4 cents to $7.39 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 7 cents under futures and 54 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid dropped $2.03 last week to $120.78. Cash cattle trade is still uncertain for this week. Last year at this time, the cash price was $116.51.

Boxed beef prices fell $2.81 from last week, with Choice beef now at $198.98. Last year at this time, Choice boxed beef prices were $198.00.

 

HOG COMMENTS

The national average lean carcass bid rose $5.11 over the past week to $103.87. Last year's price on this date was $96.88.

The pork cutout value improved $7.36 from last week to $106.62. Last year at this time, the average cutout price stood at $99.56.

 

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