The national average corn basis softened 2 cents to stand 7 cents under December futures. The national average cash corn price softened 10 1/2 cents from last week to $4.32 1/4.
Basis is weaker than the three-year average, which is 1 3/4 cents below futures.
The national average soybean basis stands even with November futures. The national average cash price fell 20 1/4 cents from last week to $12.87 1/2.
Basis remains better than the three-year average, which is 17 cents below futures for this week.
The national average soft red winter (SRW) wheat basis firmed 3/4 cent to 29 1/4 cents below December futures. The average cash price softened 26 cents to $6.45 3/4. The national average hard red winter (HRW) basis firmed 1/4 cents to 15 3/4 cents under December futures. The average cash price fell 23 1/4 cents to $7.32.
Basis remains better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 38 3/4 cents under futures and 64 cents under futures for HRW.
Last week's cash cattle trade occurred at $132.23, up $1.73 from the previous week. Expectations for this week are for least steady to slightly higher trade. Last year at this time, the cash price was $126.58.
Choice boxed beef prices firmed $4.89 from last week to $205.68. Last year at this time, Choice boxed beef prices were $194.77.
Average lean carcass bids are $1.50 lower than last week at $89.75. Last year's lean carcass price on this date was $85.03.
Pork cutout values are $3.67 lower than last week at $89.75. Last year at this time, the average cutout price stood at $85.79.