Midweek Cash (VIP) -- November 13, 2013

November 13, 2013 10:23 AM
 

 

CORN COMMENTS

The national average corn basis softened 8 cents from last week to stand 3 3/4 cents under December futures. The national average cash corn price firmed 3/4 cents from last week to $4.26.

Basis is weaker than the three-year average, which is 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average soybean basis softened 2 3/4 cents from last week to stand 10 3/4 cents over January futures. The national average cash price rose 57 cents from last week to $13.25 3/4.

Basis remains better than the three-year average, which is 11 1/2 cents below futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 3 1/2 cents from last week to 23 1/2 cents below December futures. The average cash price softened 4 1/4 cents to $6.22. The national average hard red winter (HRW) basis softened 1/4 cents from last week to 15 1/4 cents under December futures. The average cash price fell 29 3/4 cents to $6.86 3/4.

Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 25 1/2 cents under futures and 61 cents under futures for HRW.

 

CATTLE COMMENTS

Last week's cash cattle trade occurred at $130.93, down $1.13 from the previous week. Expectations for this week are for steady to slightly lower trade. Last year at this time, the cash price was $125.29.

Choice boxed beef prices softened $1.55 from last week to $203.01. Last year at this time, Choice boxed beef prices were $193.22.

 

HOG COMMENTS

Average lean carcass bids are $2.03 lower than last week at $85.00. Last year's lean carcass price on this date was $81.48.

Pork cutout values are 53 cents lower than last week at $92.38. Last year at this time, the average cutout price stood at $81.57.

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