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Daily Market Report Archive

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:

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:

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:

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 
medium grain rice is 
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 A
Prices 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.