Print this page

Daily Market Report Archive

Grain & Soybean Date: May 15, 2012

Soybeans

Local Elevators:
(May) EAST AR:  1392 to 1420
(NC) Summ. 1284 to 1314
River Elevators:
(May) MISS: 1417 to 1429 ; AR & White 1389 to 1407
(NC) Summ. 1299 to 1325
Ark. Processor Bids: (May) 1416 to 1418  (NC) 1309 to 1310
Memphis:  (May) 1395 to 1430 (NC)  1320 to 1322
Riceland Foods:  (May) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: July up 26 at  1413
  Aug  up  21  at  1393 3/4
  Sept up 13 1/4  at  1340
  Nov up 10 1/4  at  1305
  March up at  1274
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans rebounded today after yesterday’s technical sell-off; gains maybe short lived as the U.S. dollar continues to strengthen. The soybean market is particularly dependent on the exports and the weak dollar of recent years has allowed the U.S. to be more competitive in international markets. Soybeans will also come under additional fundamental pressure as 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  1395 to 1430;

Bids to farmers at Local Elevators 579-599;
River Elevators 589-629;

Chicago Futures: July up  10 1/4  at  608 1/2 
  Sept up 9 1/2  at  622 1/4 
  Dec up  8 1/2  at  643 3/4 
  March up  6 3/4  at  664 
  May up  at  673 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1029 to 1031;

Bids to farmers at River Elevators 874-892;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   617 1/4 to 640 1/4;
  NC at Memphis   498 to 508;
Bids to farmers at River Elevators  612 to 627

Chicago Futures: July up  14 1/4  at  597 1/4 
  Sept up  8 1/2  at  523 
  Dec up  at  514 1/2 
  March up  9 1/2  at  526 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat closed the day higher as yesterday’s crop conditions report showed the crop quality diminishing, and reports out of the Black Sea indicate that drought conditions are beginning to adversely affect the crop. Wheat will need continued strength in the other grain markets to maintain this strength. Much like with soybeans, the strengthening dollar will hinder our ability to export wheat.

Corn closed the day higher as reports show drought conditions in China are beginning to affect the crop. The next objective for corn prices is to reach the $5.25 support level, additional fund money and fresh fundamentals are needed to reach this level. Should prices move lower and break $5, and that will likely happen as some point, it would open the market to trade at $4.75 or lower.



Cotton & Rice  Date: May 15, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 34 at  7266
  Greenwood up  34 at 7266

New York Futures: July up  34  at  7916 
  Oct up  20  at  7892 
 Dec up  63  at  7733 
 March up  68  at  7853 
 May up  76  at  7961 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton continued to firm after December lost over 7 cents following Thursday’s report. Mounting world stocks continue to weigh on the market for the foreseeable future as China and India, the world’s largest consumer and producer, account for over half of the total stock increase in 2012/13. December has found temporary support just under 75 cents.

Rice

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

Chicago Futures: May down  12 1/2  at  1547 1/2 
 July down  12  at  1570 
 Sept down  13 1/2  at  1593 
 Nov down  13 1/2  at  1617 1/2 
 March down  15 1/2  at  1642 1/2 
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. Rice attempted to follow the other grains higher but was unable to maintain gains. The strengthening dollar will have the most impact on U.S. rice, which already has a difficult time competing in the international market.



Cattle & Hogs  Date: May 15, 2012

Cattle
As reported by Federal-State Market News, receipts were 716 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold mostly steady to $2 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 190.05 to - - -
  500 to 550 lbs. 171.00 to - - -
  600 to 650 lbs. 159.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 178.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 155.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 147.00 to - - -

Slaughter Cows, Boners 83.00   to   89.00
Light Weight 65.00 to 70.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   100.00   to   111.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 194.00 to 196.75
  550 to 600 lbs. 171.50 to 185.00
Heifers 450 to 500 lbs. 168.00 to 179.00
  500 to 550 lbs. 157.50 to 170.00

Chicago Futures:
Live Cattle: June up 27 at 11642
  Aug up 27 at 11872
Feeders: May up - - - at 14942
  Aug up 47 at 15767

Cattle Comment
Cattle prices firmed again today. 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 $3 to $1     higher   at   51.50   to   53.50

Chicago Futures: June up 102 at 8640
  July up 187 at 8740

Hogs Comment
Hog futures closed the day higher. Hog slaughter has declined seasonally but by less than anticipated. With numbers and weights both higher, total pork was up almost 7% from the same time last year.



Poultry  Date: March 15, 2012

Eggs

New York:  Ex. Lg. 85-89; Lg. 83-87; 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 104.00
 

Delmarva Broilers
U.S. Grade A
Prices for whole broiler/fryers are trending steady. Offerings are mostly moderate. Demand is adequate for current trade needs. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.