Print this page

Daily Market Report Archive

Grain & Soybean Date: May 03, 2012

Soybeans

Local Elevators:
(May) EAST AR:  1453 to 1481
(NC) Summ. 1342 to 1372
River Elevators:
(May) MISS: 1488 to 1499 ; AR & White 1460 to 1478
(NC) Summ. 1357 to 1384
Ark. Processor Bids: (May) 1477 to 1479  (NC) 1365 to 1367
Memphis:  (May) 1488 1/2 to 1493 1/2 (NC)  1384 3/4 to - - -
Riceland Foods:  (May) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: May down 11 1/4 at  1468 3/4
  July  down  11 1/2  at  1473 1/2
  Aug down 13 1/4  at  1452 1/2
  Sept down 9 3/4  at  1400
  Nov down 1/2  at  1367 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybean prices fell again today as funds continue to liquidate positions, despite a positive export sales report this morning. Large speculators continue to hold a record amount of net long positions which could pressure prices in the coming days despite fundamental support. The soybean and corn price ratio remains in favor of soybeans as the market is still looking for more acres following the March planning intentions report. November is technically still trending higher, with support near $13.56. Resistance is $14.

Wheat
Cash bid for May at Memphis  620 1/2 to 627 1/2;

Bids to farmers at Local Elevators 586-606;
River Elevators 596-631;

Chicago Futures: May up  1 1/4  at  608 1/4 
  July up at  615 1/2 
  Sept up  1 1/4  at  631 1/2 
  Dec up  at  656 3/4 
  March '12 up  at  680 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1062 to 1069;

Bids to farmers at River Elevators 991-1063;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   664 1/2 to - - -;
  New Crop at Memphis   515 1/2 to 517 1/2;
Bids to farmers at River Elevators  635 to 648

Chicago Futures: May up  8 1/2  at  650 3/4 
  July up  at  614 1/2 
  Sept down  1 3/4  at  537 1/2 
  March '12 down  1 1/2  at  541 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat prices posted modest gains today. July price prices bounced off of contract lows set yesterday. Wheat continues to face bearish fundamentals as today’s export report again showed wheat exports lagging behind the pace needed to meet this year’s USDA forecast.

Old crop corn posted modest gains, while new crop traded lower. Corn prices are likely to continue to face pressure as we head into the summer. With almost 96 million acres of corn estimated in 2012, the U.S. can easily add 1 billion bushels to corn stocks baring a weather event in the Midwest. Some analyst estimate corn prices may fall between $4 and $4.50. September corn put in a new low today; you have to go back to Mach 2011 to find prices this low.



Cotton & Rice  Date: May 03, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 70 at  8271
  Greenwood up  70 at 8271

New York Futures: May down  22  at  8724 
  July down  30  at  8921 
 Oct down  18  at  8885 
 Dec down  at  8652 
 March '12 down  24  at  8778 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton prices closed the day down, despite a positive export report. The market continues to be concerned about what the USDA will do with India’s balance sheet next week. A large discrepancy exists between India’s estimate and USDA estimates.

Rice

Long Grain Cash Bid for  May - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: May up  34  at  1493 1/2 
 July up  33  at  1518 1/2 
 Sept up  32  at  1540 
 Nov up  31   at  1563 
 March '12 up  16  at  1600 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice closed the day slightly higher. Prices continue to trade close to the 62% retracement objective at $15.02 for the September contract. While exports did show signs of life today up 6% from last week, U.S. export demand remains poor, offsetting the smaller crop that farmers have planted this spring.



Cattle & Hogs  Date: May 03, 2012

Cattle
As reported by Federal-State Market News, receipts were 1721 head at sales in Charlotte & Green Forest.  Compared with last week, feeder steers sold mostly steady, instances $1 - $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 188.00 to - - -
  500 to 550 lbs. 180.00 to - - -
  600 to 650 lbs. 165.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 178.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 158.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 160.50 to - - -

Slaughter Cows, Boners 78.00   to   86.00
Light Weight 66.00 to 74.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   96.00   to   105.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 204.00 to 208.00
  500 to 550 lbs. 188.00 to 189.00
Heifers 450 to 500 lbs. 170.00 to 174.00
  500 to 550 lbs. 161.00 to 166.00

Chicago Futures:
Live Cattle: Jun up 300 at 11587
  Aug up 275 at 11855
Feeders: May up 265 at 15262
  Aug up 300 at 15722

Cattle Comment
June Cattle futures closed the day up the limit, with other closing close to that level. Today’s export sales report showed only a modest decline in exports alleviating some concerns that BSE would reduce beef exports.

Hogs
Peoria: were     steady   at   51.00   to   53.00

Chicago Futures: May up 2 at 8130
  June up 47 at 8492

Hogs Comment
Hog prices closed the day higher. Prices appeared to follow cattle prices higher.



Poultry  Date: May 03, 2012

Eggs

New York:  Ex. Lg. 83-87; Lg. 81-85; Med. 75-79;
Chicago:  Ex. Lg. 77-85; Lg. 75-83; Med. 71-79;

National Turkeys
Hens: 8-16 lb. 105.51
Toms: 16-24 lb. 108.43
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryer prices are trending steady to firm. Offerings of all sizes are light to moderate for current trade needs. In production areas, live supplies are moderate at mixed, but mostly desirable weights.