Midweek Cash Markets | January 26, 2022

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CORN COMMENTS

The national average corn basis firmed a penny over the past week to 4 cents above March futures. The national average cash corn price firmed 17 1/2 cents to $6.31.

Basis is better than the three-year average of 2 1/4 cent under futures.

 

SOYBEAN COMMENTS

The national average soybean basis fell 1 3/4 cents over the past week but remains 1/4 cent above March futures. The national average cash price firmed 47 cents on the week to $14.40 1/4.

Basis is much better than the three-year average of 18 3/4 cents under futures.

 

WHEAT COMMENTS

The national average soft red winter (SRW) wheat basis held at 30 cents under March futures. The average cash price slipped 1 1/2 cents to $7.65. SRW basis is much weaker than the three-year average of 2 1/2 cent under futures.

The national average hard red winter (HRW) wheat basis held at 23 cents below March futures. The average cash price firmed 15 3/4 cents to $7.92 3/4. HRW basis is slightly better than the three-year average of 28 1/4 cents under futures.

 

CATTLE COMMENTS

Cash cattle trade averaged $137.50 last week, up 89 cents from the previous week. This week’s cash trade thus far has been in the $136 to $137 range. Last year at this time, the cash price was $112.44.

Choice boxed beef prices dropped $2.14 over the past week to $289.46. Last year, Choice boxed beef prices were $229.66.

 

HOG COMMENTS

The average lean hog carcass price firmed $2.35 over the past week to $79.20. Last year’s lean carcass price on this date was $66.96.

The pork cutout value dropped $3.01 over the past week to $92.46. Last year at this time, the cutout price stood at $79.62.

 

Latest News

HRW, SRW crops head in opposite directions

HRW CCI rating drops to the lowest of the year, while the SRW rating improved to its highest of the spring.

After the Bell | May 16, 2022

Wheat futures rally daily trading limits after India export ban fuels supply concern; corn, beans also surge.

USDA Unveils $6 Bil. in WHIP+ Payments for 2020, 2021 Crop Disasters

Program has new name of Emergency Relief Program (ERP)

Soybean inspections near the top of trade expectations

Soybean inspections continue to run stronger than normal for this time of year.

Monday Morning Wake Up Call | May 16, 2022

Wheat futures gapped higher overnight and corn and soybeans open the week amid solid price support. Lean hog futures are sharply higher with the cattle complex mixed to moderately lower.

Ahead of the Open | May 16, 2022

Wheat futures soar to multi-year highs after India bans exports; corn and soybeans also higher.