CORN COMMENTS
The national average corn basis gained 1\/4 cent to 12 1\/2 cents below December futures. The national cash corn index price increased 1 cents from last Wednesday to $4.01.
National basis is now slightly firmer than the three-year average of 16 1\/4 cents below futures.<\/p>\n
SOYBEAN COMMENTS
The national average soybean basis gained 8 3\/4 cents to 23 1\/2 cents below November futures. The national cash soybean index price fell 10 cents from last Wednesday to $9.68.
National basis is just slightly firmer than the three-year average of 24 1\/4 cents below futures. Basis has firmed significantly over the last couple of weeks, as soybean processors look to motivate farmers to sell and meet their needs for steady operation.<\/p>\n
WHEAT COMMENTS
The national average soft red winter (SRW) wheat basis slipped 1\/4 cent to 36 1\/2 cents below December futures. The average cash price decreased 7 cents to $4.64. SRW basis continues to remain firmer than the three-year average of 66 1\/4 cents under futures. Considering futures remain at low values, a firmer than average basis is not necessarily translating to strong cash values. Firmer than average basis is likely needed to stimulate movement of wheat.<\/p>\n
The national average hard red winter (HRW) wheat basis fell 13 1\/4 cents to 95 cents below December futures. The average cash price fell 19 cents to $3.93. HRW basis continues to trend substantially weaker than the three-year average of 71 1\/4 cents under futures. Export sales reports were one of the few bright spots lifting up the wheat markets. In the absence of that data, prices are continuing to test support.<\/p>\n
CATTLE COMMENTS
Cash cattle trade averaged $234.07 last week, up $3.31 from the previous week, and broke the trend of a six-week decline in cash values. This reversal comes from a week where most cash trading occurred on one day. While it is a reversal of the downward trend, weeks where cash trading is consolidated offers less support than a steady flow of purchases.<\/p>\n
Choice boxed beef gained 32 cents over the past week to $366.48. Last year at this time, choice boxed beef prices stood at $316.83.<\/p>\n
HOG COMMENTS
The average lean hog carcass price fell $2.40 over the past week to $95.95. Fundamentals in the cash hog market are continuing to weaken, losses in bellies lead the way as of late. Last year\u2019s lean carcass price on this date was $75.52.
The pork cutout value fell $1.86 over the past week to $101.96. Last year at this time, the cutout price stood at $94.40.<\/p>\n","protected":false},"excerpt":{"rendered":"CORN COMMENTSThe national average corn basis gained 1\/4 cent to 12 1\/2 cents below December futures. The national…\n","protected":false},"author":2,"featured_media":227916,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,112],"class_list":["post-227915","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/227915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=227915"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/227915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/227916"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=227915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=227915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=227915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}