Midweek Cash (VIP) -- August 14,2013

August 14, 2013 11:35 AM
 

 

CORN COMMENTS

The national average corn basis firmed 1/2 cent to stand $1.03 1/2 over September futures. The national average cash corn price fell 3 cents from last week to $5.68 1/4.

Basis remains much stronger than the three-year average, which is 3 cents below futures.

 

SOYBEAN COMMENTS

The national average bean basis firmed 1/4 cent to $1.42 over September futures. The national average cash price rallied 93 1/2 from last week to $14.01

Basis remains much better than the three-year average, which is 28 1/2 cents over futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 15 cents to 27 cents below September futures. The average cash price fell 27 3/4 cents to $6.03 1/1. The national average hard red winter (HRW) basis improved 1/4 cent from last week to 13 1/4 cents under September futures. The average cash price firmed 1/2 cent to $6.86.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 40 1/4 cents under futures and 68 3/4 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid firmed $2.42 last week to $122.45. Cash cattle trade has yet to get started, but traders are hoping for steady to firmer prices compared with last week. Last year at this time, the cash price was $120.51.

Boxed beef prices firmed $3.69 from last week, with Choice beef now at $192.35. Last year at this time, Choice boxed beef prices were $191.10.

 

HOG COMMENTS

The national average lean carcass bid firmed $1.41 over the past week to $102.49. Last year's price on this date was $91.84.

The pork cutout value fell $2.01 from last week to $102.67. Last year at this time, the average cutout price stood at $86.58.

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