Midweek Cash (VIP) -- August 21, 2013

August 21, 2013 11:59 AM
 

 

 

CORN COMMENTS

The national average corn basis firmed 2 3/4 cents to stand $1.06 1/4 over September futures. The national average cash corn price firmed 36 cents from last week to $6.04 1/4.

Basis remains much stronger than the three-year average, which is 9 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average bean basis softened 32 3/4 cents to $1.09 1/4 over September futures. The national average cash price rallied 12 1/4 from last week to $14.13 1/4.

Basis remains much better than the three-year average, which is 21 1/2 cents over futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 3 1/4 cents to 30 1/4 cents below September futures. The average cash price firmed 5 cents to $6.08 1/4. 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 41 1/2 cents under futures and 67 1/2 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bid firmed $1.67 last week to $124.12. 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 $120.25.

Boxed beef prices firmed $3.11 from last week, with Choice beef now at $195.46. Last year at this time, Choice boxed beef prices were $192.35.

 

HOG COMMENTS

The national average lean carcass bid fell $2.26 over the past week to $100.23. Last year's price on this date was $91.84.

The pork cutout value fell $4.19 from last week to $98.48. Last year at this time, the average cutout price stood at $82.59.

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