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Daily Market Report Archive

Grain & Soybean Date: May 16, 2012

Soybeans

Local Elevators:
(May) EAST AR:  1401 to 1429
(NC) Summ. 1281 to 1311
River Elevators:
(May) MISS: 1426 to 1438 ; AR & White 1398 to 1416
(NC) Summ. 1296 to 1322
Ark. Processor Bids: (May) 1425 to 1427  (NC) 1306 to 1307
Memphis:  (May) 1422 to 1439 (NC)  1317 1/4 to 1319 1/4
Riceland Foods:  (May) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: July up 9 at  1422
  Aug  up  1 1/2  at  1395 1/4
  Sept up 2 1/4  at  1342 1/4
  Nov down 2 3/4  at  1302 1/4
  March down 1 1/4  at  1272 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed mixed as early declines were retraced late in the session. Early pressure stemmed from continued concern about the European economic situation, particularly Greece where there is fear banks may fail. This kept the dollar strong which weighs on exports. November continues to hold near or above $13.

Wheat
Cash bid for May at Memphis  656 3/4 to 658 3/4;

Bids to farmers at Local Elevators 609-629;
River Elevators 619-655;

Chicago Futures: July up  30 1/4  at  638 3/4 
  Sept up 29  at  651 1/4 
  Dec up  27 1/4  at  671 
  March up  22 1/2  at  686 1/2 
  May up  22  at  695 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1071 to 1080;

Bids to farmers at River Elevators 1000-1027;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   650 to 663;
  NC at Memphis   512 to 522;
Bids to farmers at River Elevators  635 to 650

Chicago Futures: July up  22 3/4  at  620 
  Sept up  14  at  537 
  Dec up  11 3/4  at  526 1/4 
  March up  10 3/4  at  537 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat got a strong bounce on growing concerns about the Kansas crop. Windy and extremely dry conditions are resulting in grain not developing. Some areas where yields were expected to be 60 bushels or more per acre may now do well to harvest 40 bushels per acre. This has pushed July futures higher with a test of resistance at 6.55 and 6.75 likely.

Corn was higher across the board, but old crop contracts got a big boost from a huge sale to China. For now it appears December has found support at $5 despite what appears to be a record U.S. crop.



Cotton & Rice  Date: May 16, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 219 at  7047
  Greenwood down  219 at 7047

New York Futures: July down  219  at  7697 
  Oct down  234  at  7658 
 Dec down  272  at  7461 
 March down  264  at  7589 
 May down  250  at  7711 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton was sharply lower with December moving to last week’s low. There would appear to be little positive fundamental support. Growing world stocks will weigh on the market into the foreseeable future. High price levels in 2010 and 2011 cut cottons market share as man-made fibers were priced more economically. Regaining lost market share will be tough.

Rice

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

Chicago Futures: July down  36  at  1511 1/2 
 Sept down  35 1/2  at  1534 1/2 
 Nov down  33 1/2  at  1559 1/2 
 Jan down  33 1/2  at  1584 
 March down  33 1/2  at  1609 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice has been unable to generate any upside movement since reversing last Friday. World economic concerns and negative outside markets have seen funds take profits and liquidate long positions as they seek safer investment opportunities. U.S. exports have shown some improvement but long term large world stocks, particularly in Thailand and India, will limit upside potential.



Cattle & Hogs  Date: May 16, 2012

Cattle
As reported by Federal-State Market News, receipts were 752 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold steady to $2 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 186.00 to - - -
  500 to 550 lbs. 173.00 to - - -
  600 to 650 lbs. 157.00 to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 153.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 154.50 to - - -

Slaughter Cows, Boners 80.00   to   88.00
Light Weight 65.00 to 75.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   100.00   to   109.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 194.00 to 196.75
  500 to 550 lbs. 174..50 to 195.25
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 45 at 11687
  Aug up 11895 at 22
Feeders: May up 42 at 14985
  Aug up 65 at 15832

Cattle Comment
Cattle futures got an early boost from improving U.S. economic data. However, by mid-day, European concerns were overriding that impact and limiting upside movement. Gains were generally a result of trader evening of positions ahead of Friday’s Cattle on feed report. Stronger beef prices were also supportive.

Hogs
Peoria: were $3 higher to $1     lower   at   52.50   to   54.50

Chicago Futures: June up 10 at 8650
  July up 22 at 8762

Hogs Comment
Hog futures were mixed to mostly higher. The cash hog market continues to improve with packer margins encouraging strong hog demand. Pork price levels have been supported by Memorial Day buying which is ending.



Poultry  Date: March 16, 2012

Eggs

New York:  Ex. Lg. 89-93; Lg. 87-91; 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 holding steady. Offerings of all sizes are available to satisfy trade needs. Demand into all channels is mostly moderate. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.