Midweek Cash (VIP) -- April 2, 2014

April 2, 2014 11:20 AM
 

 

CORN COMMENTS

The national average corn basis firmed 1 1/2 cents from last week to stand 2 1/4 cents under May futures. The national average cash corn price firmed 10 cents from last week to $4.93 3/4.

Basis is softer than the three-year average, which is 6 cents above futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis softened 3 1/4 cents from last week to 11 1/2 cents above May futures. The national average cash price firmed 19 cents from last week to $14.73 3/4.

Basis is firmer than the three-year average of 3 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 cents from last week to stand 12 1/4 cents below May futures. The average cash price softened 24 1/2 cents from last week to $6.57. The national average hard red winter (HRW) basis softened 2 cents from last week to 24 cents below March futures. The average cash price softened 34 1/2 cents from last week to $7.14 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 18 cents under futures and 48 cents under futures for HRW.

 

CATTLE COMMENTS

Cash cattle trade averaged $152.21 last week, up $1.34 from the previous week. Cash trade so far this week has been very light at $2 lower than last week. Last year at this time, the cash price was $127.74.

Choice boxed beef prices softened $8.12 from last week to $233.64. Last year at this time, Choice boxed beef prices were $191.48.

HOG COMMENTS

The average lean hog carcass bid firmed $3.28 over the past week to $130.31. Last year's lean carcass price on this date was $76.99.

Pork cutout values firmed $1.29 from last week to $132.52. Last year at this time, the average cutout price stood at $77.11.


 

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