CORN COMMENTS
The national average corn basis inched 1/4 cent higher over the past week to stand 22 3/4 cents over May futures. The national average cash corn price firmed 7 3/4 cents from last week to $6.71 3/4.
Basis remains much stronger than the three-year average, which is 1 1/4 cents below futures for this week.
SOYBEAN COMMENTS
The national average bean basis improved 4 1/2 cents from last week to stand 34 3/4 cents over May futures. The national average cash price firmed 17 cents from last week to $14.27 1/2.
Basis remains much better than the three-year average, which is 7 cents under futures for this week.
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis improved 1/4 cent from last week to 5 1/4 cents below May futures. The average cash price firmed 1/2 cent to $6.91 1/2. The national average hard red winter (HRW) basis slipped 3/4 cent from last week to 27 cents under May futures. The average cash price softened 6 cents to $7.03.
Basis remains much better than the three-year average for SRW and HRW. The three-year average SRW basis for this week is 33 1/2 cents under futures and 65 1/4 cents under futures for HRW.
CATTLE COMMENTS
National average cash steer bid improved 55 cents last week to $128.29. Cash cattle trade started today at $127 in the Southern Plains, which was lower than traders expected. Last year at this time, the cash price was $122.16.
Boxed beef prices dropped 53 cents from last week, with Choice beef now at $190.95. Last year at this time, Choice boxed beef prices were $177.06.
HOG COMMENTS
The national average lean carcass bid surged $4.04 over the past week to $81.03. Last year’s price on this date was $82.54.
The pork cutout value firmed 16 cents from last week to $77.11. Last year at this time, the average cutout price stood at $79.53.
