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Daily Market Report Archive

Soybeans

HighLow
Cash Bids12921112
New Crop12071135
 

Riceland Foods

 
Cash BidsStuttgart: 1229Pendleton: 1245
New CropStuttgart: 1150 Pendleton: 1155
 

Futures:
SOYBEANS
High Low Last Change
Aug '13 1374.00 1338.25 1373.75 +33.00
Sep '13 1258.25 1217.00 1256.50 +38.00
Nov '13 1228.00 1183.00 1225.25 +43.00
Jan '14 1232.25 1189.00 1230.00 +42.00
Mar '14 1233.75 1194.75 1232.75 +40.25
May '14 1232.50 1194.00 1231.25 +38.25
Jul '14 1236.75 1204.50 1235.00 +37.75
Aug '14 1225.00 1209.00 1226.25 +39.25
Sep '14 1209.00 +36.75
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Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybean prices posted strong gains toady as production was forecast just 29 mbu above the lowest trade estimate. Declines of 500,000 acres in area, after a resurvey of Acreage Report, was matched with a 1.9 bu/acre decline in yield. These declines led to reduction and exports, crush and ending stocks, which intern caused the USDA to increase the average soybean price 60-cents on both ends to $11.35. In addition to U.S. changes, the USDA also increased Argentina’s exports in 2013/14 by 1.7 million tons; as they are forecasting Argentina will be able to take advantage of declines in U.S. and Brazilian exports during the 4th quarter of 2013. With soybeans being oversold these improved fundamentals should support the market in the near term and help prices test resistance at $12.75 and maybe even $13.



Wheat

HighLow
Cash Bids629567
New Crop676609
 

Futures:
WHEAT
High Low Last Change
Sep '13 645.25 630.00 635.00 +1.50
Dec '13 658.00 643.00 649.00 +1.75
Mar '14 671.25 656.50 663.50 +3.00
May '14 678.50 664.50 672.00 +3.50
Jul '14 673.25 660.00 670.50 +5.50
Sep '14 678.50 668.75 679.00 +5.50
Dec '14 689.00 680.25 689.75 +6.75
Mar '15 695.50 693.75 697.25 +6.25
May '15 697.75 +5.25
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Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices moved higher today, as the USDA report confirmed most of the trades expectations as exports increased and ending stocks declined. Given this was what the trade expected much of these gains were likely already factored into the wheat price. Gains in this market were primarily due to spillover strength from the gains experienced in the corn and soybean markets. With global wheat supplies increased 7.5 million tons to a record 705.4 million tons U.S. prices will need to decline in order to remain competitive in the global market place. December wheat has support at the contract low of $6.43; however, expect prices to move to test those lows in coming days as excitement over the corn and soybean prices dwindle.



Grain Sorghum

HighLow
Cash Bids503459
New Crop463457
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids466416
New Crop444423
 

Futures:
CORN
High Low Last Change
Sep '13 480.00 457.00 472.00 +6.25
Dec '13 469.25 446.50 464.00 +10.75
Mar '14 482.25 460.00 477.25 +10.50
May '14 490.25 468.75 485.50 +10.50
Jul '14 496.25 475.00 491.25 +10.00
Sep '14 495.50 478.50 494.25 +9.25
Dec '14 502.25 483.50 498.75 +9.00
Mar '15 510.75 494.00 508.25 +9.00
May '15 515.00 500.00 512.50 +8.00
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Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

Corn prices also turned higher today, though not as strongly as soybeans. Today’s USDA report will likely be the catalyst needed to push this oversold market higher. While many in the trade were hoping to simply keep ending stocks under 2 bbu, the USDA came in with a much better number at 1.837 bbu. Weak prices over the last couple of weeks have helped boost current year exports leading to a net decline of 10 mbu in 2012 ending stocks. Combine this with a 2.1 bu/ac decline in yield and a some adjustments on the demand side and you get 122 mbu decline in stocks. This news should help bolster the corn market and help prices recoup some of the losses in recent weeks. The near term objective for corn is an initial retracement back to $4.78, leading to a full retracement to $4.98. Corn will need additional support from weather and crop conditions to maintain this move long term. One thing to keep in mind is there is a lot of speculation that acreage at some point will also be adjusted lower. This could move stocks closer to the 1.5 bbu.



Cotton

Futures:
COTTON #2
High Low Last Change
Oct '13 90.00 89.02 90.06 +1.01
Dec '13 90.39 87.75 90.08 +1.15
Mar '14 88.00 85.98 87.75 +0.87
May '14 86.67 85.05 86.48 +0.81
Jul '14 85.20 83.93 85.04 +0.77
Oct '14 80.69 +0.58
Dec '14 79.90 79.30 79.75 +0.39
Mar '15 79.50 +0.39
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Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton prices closed the day up across the board, with December finally breaking the 90-cent mark. Forecast reduction in the U.S. yield to 813 lbs/acre, and declines in 2012 stocks led to a 100,000 bale decline in U.S. stocks in 2013/14. Additionally, the USDA revised the China production number to 33 million bales down 1 million bales from last month. While these revisions may provide some temporary support, global stocks-to-use remain at more than 85%. While the market may see a day or two of gains out of this, the market is likely to turn south quickly similar to the way it did following the June report and seek the bottom of the trading range close to 82-cents. Prices today and over the next couple of days will provide one of the best pricing opportunities of the season.



Rice

HighLow
Long Grain Cash Bids- - -1432/cwt
Long Grain New Crop- - -1422/cwt
 

Futures:
ROUGH RICE
High Low Last Change
Sep '13 1525.5 1497.0 1501.5 -17.5
Nov '13 1542.0 1515.0 1518.0 -16.5
Jan '14 1565.0 1540.0 1542.0 -16.0
Mar '14 1563.0 -17.0
May '14 1579.5 -16.5
Jul '14 1579.5 -16.5
Sep '14 1521.5 -16.5
Nov '14
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Rice Comment

Despite a bearish USDA report, rice prices climbed with other commodity prices today. Today’s report showed larger U.S. rice supplies in 2013 as yield rose some 76 lbs per acre and beginning stocks increased 2 million cwt as 2012 exports were reduced to 107 million cwt. While global supplies were reduced slightly they remain at record levels. In addition to changes in the balance sheet the USDA reduced the season average long grain rice price by 50-cents on either end to $14 - $15 per cwt. November rice has support at $15 and resistance at $15.40.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Aug '13 123.675 122.750 123.575 +1.075
Oct '13 127.700 126.875 127.475 +0.600
Dec '13 129.700 128.925 129.400 +0.600
Feb '14 131.125 130.425 130.775 +0.300
Apr '14 132.050 131.500 131.725 +0.125
Jun '14 126.950 126.425 126.700 +0.125
Aug '14 126.050 125.850 125.850 -0.200
Oct '14
Dec '14
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Feeders:
FEEDER CATTLE
High Low Last Change
Aug '13 154.100 152.600 153.325 -0.525
Sep '13 158.175 156.700 157.025 -0.450
Oct '13 160.550 159.150 159.500 -0.500
Nov '13 160.900 159.475 159.775 -0.600
Jan '14 159.625 158.550 158.900 -0.250
Mar '14 159.250 158.100 158.675 -0.375
Apr '14 159.350 158.600 158.750 -0.350
May '14 159.750 158.900 159.000 -0.575
Aug '14
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Arkansas Prices
Ash Flat Livestock Auction
Ola Livestock Auction
Springdale Livestock Auction

Oklahoma City
Oklahoma City - Feeder Cattle Auction Weighted Average Report

Cattle Comment

Livestock prices were mixed with live cattle climbing and feeders declining. Increases in grain prices remain a negative for feeders. While cash prices remain strong for live cattle.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Aug '13 101.575 100.750 101.350 +0.825
Oct '13 86.575 84.900 86.275 +1.300
Dec '13 83.125 82.050 82.975 +0.925
Feb '14 85.275 84.275 85.150 +0.700
Apr '14 85.575 85.000 85.425 +0.475
May '14 88.800 88.650 88.800 +0.150
Jun '14 90.800 90.000 90.650 +0.675
Jul '14 89.300 88.900 89.300 +0.450
Aug '14 88.225 87.800 88.150 +0.450
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Hog Comment



Shell Eggs

Daily Midwest Regional Eggs
Daily New York Eggs

National Turkeys

Weekly Weighted Average Prices for Whole Young Turkeys

Delmarva Broilers

Daily Southern Broiler/Fryers