Print this page

Daily Market Report Archive

Grain & Soybean Date: May 14, 2012

Soybeans

Local Elevators:
(May) EAST AR:  - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(May) MISS: - - - to - - - ; AR & White - - - to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (May) - - - to - - -  (NC) - - - to - - -
Memphis:  (May) 1387 to 1404 (NC)  1309 3/4 to 1311 3/4
Riceland Foods:  (May) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: May down 14 at  1390
  July  down  19  at  1387
  Aug down 20 3/4  at  1372 3/4
  Sept down 36 1/4  at  1350 3/4
  Nov down 26 1/2  at  1294 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans suffered another round of fund liquidation which was triggered by negative outside markets. November futures fell below $13 and could be subject to further technical selling. The next level of support is located around $12.50 to $12.60. Prospects of bigger plantings added to the negative undertone. USDA used the March intentions number for their first 2012 production estimate in the May report. Many reports suggest plantings will be 2 million acres or more above the March intentions, which would mean production, could be understated by 80 million bushels or more.

Wheat
Cash bid for May at Memphis  618 1/4 to - - -;

Bids to farmers at Local Elevators - - -;
River Elevators - - -;

Chicago Futures: May up  at  597 3/4 
  July up 1 1/4  at  598 1/4 
  Sept down  4 3/4  at  611 3/4 
  Dec down  5 1/4  at  635 1/2 
  March down  5 3/4  at  657 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1005 to 1014;

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

Corn

Cash bid for May at Memphis   613 to 626;
  NC at Memphis   489 1/2 to 499 1/2;
Bids to farmers at River Elevators  to

Chicago Futures: May unchanged    at  608 
  July up  at  583 
  Sept up  3 1/4  at  514 1/2 
  Dec up  1/4  at  505 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat closed mixed with a late selloff trimming early gains. July futures remained below $6. A big crop in India is adding to burdensome stocks and it now appears a substantial amount will be offered for export as storage is tight. Early harvest activities in the U.S. are adding pressure.

Corn closed mixed after registering big declines early last week. December futures bounced off $5 and appear to be attempting to move sideways. Should $5 be penetrated, and that will likely happen as some point, it would open the market to trade at $4.75 or lower. Long range forecasts for dry weather could offer short term support.



Cotton & Rice  Date: May 14, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 15 at  7232
  Greenwood down  15 at 7232

New York Futures: July down  15  at  7882 
  Oct up  24  at  7872 
 Dec up  36  at  7670 
 March up  27  at  7785 
 May up  14  at  7885 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton finally firmed after December lost over 7 cents following Thursday’s report. Mounting world stocks will weigh on the market for the foreseeable future. Following the 2012 crop, stocks are projected to rise almost 7 million bales to 73.75 million bales. Over half of that total will be in China and India. December has found temporary support just under 75 cents.

Rice

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

Chicago Futures: May unchanged    at  1548 1/2 
 July down  10 1/2  at  1560 
 Sept down  11  at  1582 
 Nov down  10  at  1606 1/2 
 March down  3 1/2  at  1658 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice continued to move lower, after reversing during trading on Friday. September made a brief move above $16, but could not maintain upward momentum in the facing of mounting world supplies. A smaller 2012 U.S. crop and prospects of declining U.S. stocks will be a positive factor, but upside potential will be limited without improved export possibilities.



Cattle & Hogs  Date: May 14, 2012

Cattle
As reported by Federal-State Market News, receipts were 2,322 head at sales in Ash Flat, Springdale and Ola.  Compared with last week, feeder steers sold weak to $3 lower, heifers sold firm to $4 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 190 to - - -
  500 to 550 lbs. 173.50 to - - -
  600 to 650 lbs. 158 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 183.20 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 157 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 158 to - - -

Slaughter Cows, Boners 79   to   87
Light Weight 61 to 65
Bulls, Yield Grade   1   1000   to   2100 lbs.   95   to   105
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   119.50   to   120

Oklahoma City Feeders
Steers 500 to 550 lbs. 195 to 195.25
  550 to 600 lbs. 172 to 185
Heifers 500 to 550 lbs. 157.50 to 166
  550 to 600 lbs. 157 to - - -

Chicago Futures:
Live Cattle: June up 100 at 11615
  Aug up 75 at 11845
Feeders: May down 27 at 14942
  Aug down 27 at 15720

Cattle Comment
Cattle were mostly firmer today with nearby feeder contracts showing a slightly weaker undertone. Choice beef cutout values weakened late last week pushing packer margins to the negative side. Beef production was up 2.6% from the week before despite declining cattle weights. While weights fell they are still above year ago levels.

Hogs
Peoria: were $1 lower to $3 higher     higher   at   5050   to   5250

Chicago Futures: May down 17 at 7935
  June up 7 at 8537

Hogs Comment
Hog futures were mixed after firmer cash markets on Friday. Hog slaughter has declined seasonally but by less than anticipated. Slaughter weights are holding around 279 pounds or 3 lbs. above a year ago. With numbers and weights both higher, total pork was up almost 7% from the same time last year. June futures appeared to have bottomed near $83 and are working higher.



Poultry  Date: May 14, 2012

Eggs

New York:  Ex. Lg. 83-87; Lg. 81-85; Med. 75-79;
Chicago:  Ex. Lg. 74-82; Lg. 72-80; Med. 67-75;

National Turkeys
Hens: 8-16 lbs. 108.50
Toms: 16-24 lbs. 104
 

Delmarva Broilers
U.S. Grade A
Prices for whole broiler/fryers are trending steady to firm. Offerings are mostly moderate for current trade needs. Demand is moderate following the weekend. Market activity is moderate to at times active. In production areas, live supplies are moderate at mostly desirable weights.