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: |
0¢ |
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 |
5 |
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: |
0¢ |
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: |
0¢ |
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 |
2 |
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: |
0¢ |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 APrices 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.