Grain & Soybean Date: May 22, 2012
Soybeans
Local Elevators:
(May) EAST AR: 1351 to 1379
(NC) Summ. 1261 to 1291
River Elevators:
(May) MISS: 1386 to 1399 ; AR & White 1358
to 1376
(NC) Summ. 1276 to 1302
Ark. Processor Bids: (May) 1385 to 1377
(NC) 1286 to 1287
Memphis:
(May) 1385 1/4 to 1400 1/4 (NC)
1297 1/4 to - - -
Riceland Foods:
(May) Stuttgart ; Pendleton
(NC) Stuttgart ; Pendleton
| Chicago Futures: |
July |
down |
30 1/4 |
at |
1382 1/4 |
| |
Aug |
down |
31 |
at |
1364 3/4 |
| |
Sept |
down |
30 1/4 |
at |
1314 3/4 |
| |
Nov |
down |
24 |
at |
1282 1/4 |
| |
March |
down |
15 1/4 |
at |
1256 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans started the session on a firm note which quickly dissipated. Sharp across the board losses were noted at midday. With this year’s crop barely out of the field there are indications record plantings are expected in South America. In addition a weaker Chinese economy may weigh on demand as the U.S. dollar continues to strengthen. November futures fell to a new recent low which suggests further declines are probably.
Wheat
Cash bid for May at Memphis 690 1/2 to 1400 1/4;
| Bids to farmers at Local Elevators |
668-676; |
| River Elevators |
666-697; |
| Chicago Futures: |
July |
down |
18 1/2 |
at |
685 1/2 |
| |
Sept |
down |
16 1/2 |
at |
697 1/2 |
| |
Dec |
down |
12 3/4 |
at |
716 1/2 |
| |
March |
down |
9 1/4 |
at |
730 1/2 |
| |
May |
down |
7 1/2 |
at |
735 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
|
Grain Sorghum
Cash bid for May at Memphis 1030 to 1039;
| Bids to farmers at River Elevators |
959-986; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
May at Memphis
627 to 632; |
| |
NC at Memphis
508 to 511; |
| Bids to farmers at River Elevators |
612 to 627 |
| Chicago Futures: |
July |
down |
36 |
at |
597 |
| |
Sept |
down |
22 1/2 |
at |
526 |
| |
Dec |
down |
18 1/2 |
at |
522 |
| |
March |
down |
17 1/2 |
at |
533 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat posted losses thanks to carryover weakness from corn. The market is still holding on to most of recent gains, however, thanks to concerns about potential dry weather damage in Europe, the Black Sea Region, and Kansas in the U.S. Long term forecasts don’t suggest any immediate relief and losses could mount. July now has resistance at yesterday’s high of $7.22 and then the October high of $7.30.
Corn was slammed by early planting and 77% good to excellent crop progress report. Hotter drier end of week forecasts may temper the market pressure but old crop July looks like it could retest recent support just above $5.80. December bounced off $5.50 resistance yesterday and could have support near $5.00 in sight.
Cotton & Rice Date: May 22, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 200 at
7002 |
| |
Greenwood down
200 at 7002 |
| New York Futures: |
July |
down |
300 |
at |
7452 |
| |
Oct |
down |
287 |
at |
7380 |
| | Dec |
down |
300 |
at |
7157 |
| | March |
down |
299 |
at |
7291 |
| | May |
down |
300 |
at |
7409 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton was body slammed again today. Prospects of a potentially weaker Chinese economy just makes huge world stocks glow brighter. With July the lead contract support at 85 cents on long term charts was violated. Technically that points lower with the next support around 67 cents.
Rice
| Long Grain Cash Bid for |
May |
|
to |
|
| |
NC |
|
to |
|
| Chicago Futures: |
July |
down |
18 1/2 |
at |
1524 1/2 |
| | Sept |
down |
19 |
at |
1549 |
| | Nov |
down |
18 |
at |
1574 |
| | Jan |
down |
15 1/2 |
at |
1598 1/2 |
| | March |
down |
7 1/2 |
at |
1623 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was somewhat lower at noon as the market continued it’s up one day, down one day modus operandi. This market has failed to move in the same direction 2 days in a new since early last week. Obviously there isn’t any fresh news to give the market direction and it simply reacts with a hard mentality. Stronger dollar adds pressure as does weaker crude oil.
Cattle & Hogs Date: May 22, 2012
Cattle
As reported by Federal-State Market News, receipts were 1259 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers sold firm to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
192.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
170.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
157.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
175.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
154.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
152.00 |
to |
- - - |
Slaughter Cows, Boners 83.00 to 89.00
Light Weight 65.00 to 73.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 101.50
to 110.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
186.00 |
to |
196.50 |
| |
550 |
to |
600 lbs. |
177.00 |
to |
189.50 |
| Heifers |
450 |
to |
500 lbs. |
167.00 |
to |
176.00 |
| |
500 |
to |
550 lbs. |
159.00 |
to |
168.50 |
Chicago Futures:
| Live Cattle: |
June |
up |
50 |
at |
11935 |
| |
Aug |
up |
47 |
at |
12127 |
| Feeders: |
May |
up |
65 |
at |
15252 |
| |
Aug |
up |
102 |
at |
16012 |
Cattle Comment
Cattle futures were mixed today. Tight feedlot inventories reflected in Friday’s report were supportive, but demand concerns and weaker crude oil prices added pressure.
Hogs
Peoria: were $2.50 lower to $1.50 higher
at 55.00 to 57.00
| Chicago Futures: |
June |
down |
87 |
at |
8582 |
| |
July |
down |
90 |
at |
8615 |
Hogs Comment
Hog futures were lower. A sharp drop in the composite cutout value has sparked renewed concerns about demand. Ample hog supplies are expected to limit upside potential.
Poultry Date: March 22, 2012
Eggs
| New York: |
Ex. Lg. 101-105; Lg. 99-103; Med. 75-79; |
| Chicago: |
Ex. Lg. 85-93; Lg. 83-91; Med. 67-75; |
National Turkeys
| Hens: |
8-16 lbs |
108.50 |
| Toms: |
16-24 lbs |
108.33 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are steady. Offerings are moderate. Demand is light to moderate with trading usually limited to regular commitments. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.