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