The national average corn basis firmed 2 1/2 cents from last week to stand 3 1/2 cents over March futures. The national average cash corn price softened 2 1/2 cents from last week to $4.20 1/2.
Basis is stronger than the three-year average, which is 1 3/4 cents over futures for this week.
The national average soybean basis firmed 3 1/4 cents from last week to stand 21 cents above March futures. The national average cash price softened 21 cents from last week to $12.90 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 1/2 cent from last week to 5 1/2 cents below March futures. The average cash price softened 16 cents to $5.83 1/4. The national average hard red winter (HRW) basis softened 8 cents from last week to 13 cents under March futures. The average cash price declined 11 1/2 cents to $6.24.
Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 19 cents under futures and 64 cents under futures for HRW.
Last week's cash cattle price averaged $137.53, up $3.47 from the previous week. Expectations are for steady to higher cash cattle prices this week. Last year at this time, the cash price was $126.04.
Choice boxed beef prices firmed $2.43 from last week to $210.13. Last year at this time, Choice boxed beef prices were $193.55.
The average lean hog carcass bid firmed 97 cents over the past week to $80.63. Last year's lean carcass price on this date was $84.04.
Pork cutout values softened 51 cents from last week to $82.93. Last year at this time, the average cutout price stood at $82.98.