The national average corn basis softened 2 cents from last week to stand 1 1/2 cents over March futures. The national average cash corn price firmed 6 3/4 cents from last week to $4.27 1/4.
Basis is stronger than the three-year average, which is 1 3/4 cents over futures for this week.
The national average soybean basis softened 1 3/4 cents from last week to stand 19 1/4 cents above March futures. The national average cash price firmed 47 cents from last week to $13.37 1/4.
Basis is a much stronger than the three-year average, which is 3 cents below futures for this week.
The national average soft red winter (SRW) wheat basis softened 1 1/2 cents from last week to 7 cents below March futures. The average cash price softened 22 1/2 cents to $5.60 3/4. The national average hard red winter (HRW) basis firmed 1/4 cent from last week to 12 3/4 cents under March futures. The average cash price declined 15 3/4 cents to $6.08 1/4.
Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 18 3/4 cents under futures and 58 cents under futures for HRW.
Last week's cash cattle price averaged a record $139.57, up $2.04 from the previous week. Expectations are for higher cash cattle prices this week. Last year at this time, the cash price was $123.93.
Choice boxed beef prices firmed $14.49 from last week to a record $224.62. Last year at this time, Choice boxed beef prices were $193.83.
The average lean hog carcass bid softened 38 cents over the past week to $80.25. Last year's lean carcass price on this date was $84.76.
Pork cutout values firmed 87 cents from last week to $83.80. Last year at this time, the average cutout price stood at $84.25.