The national average corn basis improved 1 1/4 cents from last week to stand 4 1/2 cents over March futures. The national average cash corn price declined 23 1/2 cents from last week to $7.07 1/2.
Basis remains much stronger than the three-year average, which is 15 cents below futures for this week.
The national average bean basis firmed 10 3/4 from last week to stand 23 1/4 cents over January futures. The national average cash price, however, declined 28 cents from last week to $14.60 1/4.
Basis is much better than the three-year average, which is 7 cents under futures for this week.
The national average soft red winter (SRW) wheat basis firmed 4 1/4 cents from last week to 13 3/4 cents below March futures. The average cash price declined 2 cents to $7.92. The national average hard red winter (HRW) basis firmed 1/4 cent from last week to 48 3/4 cents under March futures. The average cash price softened 7 cents to $8.09 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 43 cents under futures and 78 cents under futures for HRW.
National average cash steer bid improved 49 cents last week to $124.30. Early expectations are for steady to firmer cash trade this week. Last year at this time, the cash price was $121.70.
Boxed beef prices softened $2.23 from last week, with Choice beef now at $193.55 Last year at this time, Choice boxed beef prices were $191.17.
The national average lean carcass bid declined $3.02 over the past week to $81.49. Last year's price on this date was $84.56.
The pork cutout value have declined 55 cents from last week to $83.03. Last year at this time, the average cutout price stood at $86.50.