Midweek Cash (VIP) -- September 11, 2013

September 11, 2013 11:23 AM
 

 

CORN COMMENTS

The national average corn basis softened 59 cents to stand 39 1/2 cents over December futures. The national average cash corn price fell 56 cents from last week to $5.12.

Basis remains much stronger than the three-year average, which is 16 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average bean basis softened 25 3/4 cents to 75 cents over November futures. The national average cash price softened 20 cents from last week to $14.33 1/4.

Basis remains much better than the three-year average, which is 7 1/2 cents below futures for this week.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 1/4 cent to 36 cents below December futures. The average cash price rose 1 1/2 cents to $6.12. The national average hard red winter (HRW) basis softened 1 1/4 cent to 14 3/4 cents under December futures. The average cash price softened 4 1/2 cents to $6.80.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 59 1/2 cents under futures and 75 3/4 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bids softened 43 cents last week to $122.91. This week, most expect steady to weaker prices compared with last week. Last year at this time, the cash price was $125.91.

Boxed beef prices fell $2.63 from last week, with Choice beef now at $193.93. Last year at this time, Choice boxed beef prices were $191.71.

 

HOG COMMENTS

The national average lean carcass bid rose 32 cents over the past week to $92.09. Last year's price on this date was $70.17.

The pork cutout value rose $2.06 from last week to $96.95. Last year at this time, the average cutout price stood at $75.54.

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