Midweek Cash (VIP) -- October 17, 2013

October 17, 2013 04:48 AM
 

 

CORN COMMENTS

The national average corn basis firmed 3 1/2 cents to stand 7 1/4 cents under December futures. The national average cash corn price firmed 2 1/4 cents from last week to $4.35 1/2.

Basis is slightly better than the three-year average, which is 9 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average bean basis softened 3 1/2 cents to 10 cents under November futures. The national average cash price softened 14 cents from last week to $12.66 1/2.

Basis remains much better than the three-year average, which is 21 1/2 cents below futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis firmed 4 cents to 27 3/4 cents below December futures. The average cash price fell 4 1/2 cents to $6.53 3/4. The national average hard red winter (HRW) basis firmed 1/4 cent to 13 3/4 cents under December futures. The average cash price softened 10 1/2 cents to $7.34 1/2.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 49 1/2 cents under futures and 68 cents under futures for HRW.

 

CATTLE COMMENTS

Official cash cattle trade prices are not available, but based on private estimates, last week's cash cattle trade largely occurred at $128. Yesterday, cash trade began at $129. Last year at this time, the cash price was $126.11.

Based on estimates from Urner Barry, Choice boxed beef prices have firmed $2.29 to $194.88. Last year at this time, Choice boxed beef prices were $195.71.

 

HOG COMMENTS

Average lean carcass bids are unavailable due to the government shutdown, but the cash market has been steady to lower so far this week. Last year's lean carcass price on this date was $97.66.

Based on estimates from Urner Barry, pork cutout values are 3 cents higher to $91.18. Last year at this time, the average cutout price stood at $85.42.


 

Back to news


Comments

 
Spell Check

No comments have been posted to this News Article

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close