Midweek Cash (VIP) -- March 26, 2014

March 26, 2014 11:02 AM
 

 

CORN COMMENTS

The national average corn basis firmed 2 3/4 cents from last week to stand 3/4 cent under May futures. The national average cash corn price softened 1/2 cent from last week to $4.83 3/4.

Basis is softer than the three-year average, which is 7 3/4 cents above futures for this week.

 

SOYBEAN COMMENTS

The national average soybean basis firmed 3 1/2 cents from last week to 14 3/4 cents above May futures. The national average cash price firmed 12 1/4 cents from last week to $14.54 3/4.

Basis is firmer than the three-year average of 5 1/4 cents above futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 2 1/2 cent from last week to stand 15 1/4 cents below May futures. The average cash price softened 21 1/2 cents from last week to $6.81 1/2. The national average hard red winter (HRW) basis softened 1/2 cent from last week to 22 cents below March futures. The average cash price softened 22 cents from last week to $7.49 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 cents under futures and 48 cents under futures for HRW.

 

CATTLE COMMENTS

Cash cattle trade averaged $150.87 last week, up 92 cents from the previous week. Cash trade in the Southern Plains this week came in around $152. Last year at this time, the cash price was $124.78.

Choice boxed beef prices softened $1.61 from last week to $241.76. Last year at this time, Choice boxed beef prices were $190.43.

HOG COMMENTS

The average lean hog carcass bid firmed $10.48 over the past week to $127.03. Last year's lean carcass price on this date was $74.24.

Pork cutout values firmed $1.93 from last week to $131.23. Last year at this time, the average cutout price stood at $77.59.


 

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