The national average corn basis softened 7 cents over the past week to stand 47 cents over July futures. The national average cash corn price softened 11 1/4 cents from last week to $7.07 3/4.
Basis remains much stronger than the three-year average, which is 10 1/4 cents above futures.
The national average bean basis softened 13 cents from last week to stand 18 1/2 cents over July futures. The national average cash price firmed 17 1/4 cents from last week to $15.50 1/2.
Basis remains much better than the three-year average, which is 8 cents over futures for this week.
The national average soft red winter (SRW) wheat basis was unchanged from last week at 7 cents below July futures. The average cash price softened 1 1/4 cents to $6.94 1/2. The national average hard red winter (HRW) basis firmed 3/4 cent from last week to 14 cents under July futures. The average cash price declined 3 1/4 cents to $7.29 1/4.
Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 17 cents under futures and 62 cents under futures for HRW.
National average cash steer bid dropped 11 cents last week to $124.64. Cash cattle trade is expected to be steady this week. Last year at this time, the cash price was $122.79.
Boxed beef prices fell $5.13 from last week, with Choice beef now at $204.40. Last year at this time, Choice boxed beef prices were $197.13.
The national average lean carcass bid rose $2.05 over the past week to $95.98. Last year's price on this date was $86.69.
The pork cutout value improved $1.24 from last week to $95.13. Last year at this time, the average cutout price stood at $89.23.