The national average corn basis improved 6 cents over the past week to stand 54 3/4 cents over July futures. The national average cash corn price improved 62 1/2 cents from last week to $7.13 1/4.
Basis remains much stronger than the three-year average, which is 7 cents above futures.
The national average bean basis softened 37 1/4 cents from last week to stand 55 1/2 cents over July futures. The national average cash price firmed 44 1/4 cents from last week to $15.49 3/4.
Basis remains much better than the three-year average, which is 2 cents over futures for this week.
The national average soft red winter (SRW) wheat basis softened 1/4 cent from last week to 10 cents below July futures. The average cash price declined 6 cents to $6.78 1/2. The national average hard red winter (HRW) basis softened 1 3/4 cents from last week to 16 cents under July futures. The average cash price declined 7 1/4 cents to $7.27 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 37 cents under futures and 70 cents under futures for HRW.
National average cash steer bid dropped 86 cents last week to $125.38. Cash cattle trade began today at $1 lower than last week. Last year at this time, the cash price was $122.23.
Boxed beef prices rose another $3.25 from last week, with Choice beef now at a new record high of $211.20. Last year at this time, Choice boxed beef prices were $195.01.
The national average lean carcass bid rose $1.29 over the past week to $93.44. Last year's price on this date was $84.89.
The pork cutout value improved $2.82 from last week to $93.77. Last year at this time, the average cutout price stood at $80.78.