The national average corn basis softened 2 1/2 cent from last week stand 23 1/2 cents over May futures. The national average cash corn price declined 4 3/4 cents from last week to $7.53 3/4.
Basis remains stronger than the three-year average, which is 4 cents below futures for this week.
The national average bean basis improved 2 cents from last week to stand 28 cents over May futures. The national average cash price improved 30 cents from last week to $14.75 3/4.
Basis remains much better than the three-year average, which is 5 1/2 cents under futures for this week.
The national average soft red winter (SRW) wheat basis softened 7 1/2 cents from last week to 8 1/4 cents below May futures. The average cash price declined 12 cents to $7.23 1/4. The national average hard red winter (HRW) basis softened 1/2 cent from last week to 26 1/2 cents under May futures. The average cash price improved 3 cents to $7.42.
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 67 cents under futures for HRW.
National average cash steer bid dropped a $1.88 last week to $124.78. Steady to slightly weaker cash cattle trade is expected this week. Last year at this time, the cash price was $125.55.
Boxed beef prices declined $2.98 from last week, with Choice beef now at $190.43. Last year at this time, Choice boxed beef prices were $184.24.
The national average lean carcass bid softened $1.99 over the past week to $74.24. Last year's price on this date was $84.33.
The pork cutout value improved $1.18 from last week to $77.59. Last year at this time, the average cutout price stood at $80.28.