Midweek Cash (VIP) -- September 25, 2013

September 25, 2013 11:44 AM
 

 

CORN COMMENTS

The national average corn basis softened 10 3/4 cents to stand 3 1/4 cents over December futures. The national average cash corn price fell 14 1/4 cents from last week to $4.56.

Basis remains much stronger than the three-year average, which is 14 1/4 cents below futures.

 

SOYBEAN COMMENTS

The national average bean basis softened 32 3/4 cents to 4 1/4 cents over November futures. The national average cash price softened 58 3/4 cents from last week to $13.26.

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

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis softened 1 1/4 cents to 39 1/4 cents below December futures. The average cash price firmed 22 3/4 cents to $6.31 1/4. The national average hard red winter (HRW) basis firmed 3 1/4 cents to 13 1/2 cents under December futures. The average cash price firmed 28 1/2 cents to $7.04 3/4.

Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 58 1/4 cents under futures and 70 3/4 cents under futures for HRW.

 

CATTLE COMMENTS

National average cash steer bids firmed 97 cents last week to $124.07. This week the cash market is largely expected to be steady to firmer from last week. Last year at this time, the cash price was $122.45.

Boxed beef prices firmed 30 cents from last week, with Choice beef now at $193.59. Last year at this time, Choice boxed beef prices were $192.45.

 

HOG COMMENTS

The national average lean carcass bid rose $6.01 over the past week to $97.66. Last year's price on this date was $72.77.

The pork cutout value rose $2.26 from last week to $100.27. Last year at this time, the average cutout price stood at $83.11.


 

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