Midweek Cash Markets (VIP) -- June 26, 2013

June 26, 2013 11:21 AM
 

 

CORN COMMENTS

The national average corn basis softened 11 3/4 cents over the past week to stand 44 cents over July futures. The national average cash corn price softened 29 1/2 cents from last week to $7.08 1/2.

Basis remains much stronger than the three-year average, which is 15 3/4 cents above futures.

 

SOYBEAN COMMENTS

The national average bean basis softened 6 3/4 cents from last week to stand 31 cents over July futures. The national average cash price firmed 4 1/2 cents from last week to $15.65 1/4.

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 softened 5 3/4 cents to 14 3/4 cents below July futures. The average cash price firmed 45 3/4 cents to $6.52 1/4. The national average hard red winter (HRW) basis softened 57 cents from last week to 64 cents under July futures. The average cash price softened 55 cents to $6.84 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 11 1/4 cents under futures and 64 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid improved 14 cents last week to $120.93. Cash cattle trade is still uncertain for this week. Last year at this time, the cash price was $116.69.

Boxed beef prices fell $2.47 from last week, with Choice beef now at $196.51. Last year at this time, Choice boxed beef prices were $197.93.

 

HOG COMMENTS

The national average lean carcass bid fell 37 cents over the past week to $103.50. Last year's price on this date was $103.08.

The pork cutout value improved $3.53 from last week to $110.15. Last year at this time, the average cutout price stood at $91.56.

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