The national average corn basis improved 1/4 cent from last week to stand 1 1/2 cents under March futures. The national average cash corn price firmed 3 cents from last week to $4.37 3/4.
Basis is a little weaker than the three-year average, which is steady with futures.
The national average soybean basis softened 1 3/4 cents from last week to stand 4 3/4 cents over January futures. The national average cash price firmed 12 3/4 cents from last week to $13.48 3/4.
Basis is in line with the three-year average, which is 5 cents above futures for this week.
The national average soft red winter (SRW) wheat basis softened 1/2 cent from last week to 18 cents below March futures. The average cash price softened 21 1/2 cents to $6.22 3/4. The national average hard red winter (HRW) basis declined 1/4 cent from last week to 13 cents under March futures. The average cash price declined 19 1/4 cents to $6.71 3/4.
Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 29 cents under futures and 60 cents under futures for HRW.
Last week's cash cattle price averaged $131.95, down 71 cents from the previous week. Expectations are for steady to weaker cash cattle prices this week. Last year at this time, the cash price was $124.30.
Choice boxed beef prices fell 69 cents from last week to $202.61. Last year at this time, Choice boxed beef prices were $195.78.
The average lean hog carcass bid declined $1.34 over the past week to $81.35. Last year's lean carcass price on this date was $84.51.
Pork cutout values firmed 95 cents from last week to $89.62. Last year at this time, the average cutout price stood at $85.82.