The national average corn basis softened 1 1/4 cents from last week to stand 2 3/4 cents over March futures. The national average cash corn price firmed 1 3/4 cents from last week to $4.29.
Basis is weaker than the three-year average, which is 5 3/4 cents over futures for this week.
The national average soybean basis softened 5 3/4 cents from last week to stand 13 1/2 cents above March futures. The national average cash price softened 44 1/4 cents from last week to $12.93.
Basis is a much weaker than the three-year average, which is 19 1/4 cents above futures for this week.
The national average soft red winter (SRW) wheat basis firmed 3 1/4 cents from last week to 10 1/4 cents below March futures. The average cash price softened 9 3/4 cents to $5.51. The national average hard red winter (HRW) basis softened 1/2 cent from last week to 12 1/4 cents under March futures. The average cash price firmed 4 1/4 cents to $6.12 1/2.
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.
Cash cattle averaged $142.50 last week and this week trade has started at $147.00 and there is talk of $150.00 bids in Nebraska today. Last year at this time, the cash price was $122.60.
Choice boxed beef prices firmed $15.43 from last week to a record $240.05. Last year at this time, Choice boxed beef prices were $189.78.
The average lean hog carcass bid softened 18 cents over the past week to $80.07. Last year's lean carcass price on this date was $87.00.
Pork cutout values firmed $2.77 from last week to $86.07. Last year at this time, the average cutout price stood at $85.08.