Grain & Soybean Date: May 25, 2012
Soybeans
Local Elevators:
(May) EAST AR: 1351 to 1379
(NC) Summ. 1268 to 1298
River Elevators:
(May) MISS: 1378 to 1399 ; AR & White 1350
to 1368
(NC) Summ. 1283 to 1309
Ark. Processor Bids: (May) 1377 to 1385
(NC) 1293 to 1294
Memphis:
(May) 1382 to 1400 (NC)
1304 1/4 to 1307 1/4
Riceland Foods:
(May) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
July |
up |
6 |
at |
1382 |
| |
Aug |
up |
5 3/4 |
at |
1362 |
| |
Sept |
up |
8 1/2 |
at |
1321 3/4 |
| |
Nov |
up |
13 |
at |
1289 1/4 |
| |
March |
up |
11 |
at |
1266 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0?? |
Soybean Comment
Soybeans closed higher going into a holiday weekend. Weather is coming to the forefront as we head forward. Most of the Midwest appears to have adequate topsoil moisture, but there in begins the problem. Once the top soil moisture is gone there appears to be a problem with sub-soil moisture which could quickly put crops under stress. A good rain will be needed. So look for weather to remain in the forefront. That issue allowed November to hold support at $12.50 and make a slight rebound going into the weekend.
Wheat
Cash bid for May at Memphis 665 to 673;
| Bids to farmers at Local Elevators |
660-675; |
| River Elevators |
638-675; |
| Chicago Futures: |
July |
up |
17 |
at |
680 |
| |
Sept |
up |
16 1/4 |
at |
694 1/2 |
| |
Dec |
up |
15 1/2 |
at |
715 1/2 |
| |
March |
up |
14 1/4 |
at |
731 |
| |
May |
up |
14 |
at |
738 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for May at Memphis 997 to 1006;
| Bids to farmers at River Elevators |
927-954; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
May at Memphis
598 1/2 to 608 1/2; |
| |
New Crop at Memphis
506 1/2 to 511 1/2; |
| Bids to farmers at River Elevators |
594 to 609 |
| Chicago Futures: |
July |
unchanged |
- - - |
at |
578 1/2 |
| |
Sept |
up |
8 1/4 |
at |
526 1/2 |
| |
Dec |
up |
6 1/2 |
at |
521 1/2 |
| |
March |
up |
6 1/4 |
at |
532 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat continued to recover today. Increased drought concerns in Europe are supportive. There is also some concern about dry conditions in the U.S. However, the market reversed by the end of the day and closed mixed. July is building technical support just above $6.60.
Corn closed steady to firm after being blitzed yesterday. The lead July contract bounced off support just under $5.75 and held into the close. A weakening July basis has added pressure the last several days, as it suggests less demand in the export market. Early planting and good crop development, points to some early harvesting, particularly in the South. That factor has narrowed the September premium over December.
Cotton & Rice Date: May 25, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 32 at
6962 |
| |
Greenwood down
32 at 6962 |
| New York Futures: |
July |
down |
32 |
at |
7362 |
| |
Oct |
up |
23 |
at |
7272 |
| | Dec |
up |
22 |
at |
7089 |
| | March |
up |
17 |
at |
7217 |
| | May |
up |
26 |
at |
7356 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton closed mixed with small gains in new crop contracts. Fundamental factors remain unchanged. There was a lack of fresh news to give the market direction going into the long Memorial holiday weekend. Upside potential remains limited by huge world stocks and poor export demand.
Rice
| Long Grain Cash Bid for |
May |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
July |
down |
39 |
at |
1450 1/2 |
| | Sept |
down |
39 |
at |
1475 1/2 |
| | Nov |
down |
39 |
at |
1500 1/2 |
| | Jan |
down |
39 |
at |
1525 |
| | March |
down |
39 |
at |
1549 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice ended the week lower as futures lost ground for the fourth day in a row. September futures fell below support from 3 weeks ago and appears headed forward the early March low of $14.30. Projected tightening of U.S. long grain stocks is long term positive, but huge world stocks will limit upside movement short term.
Cattle & Hogs Date: May 25, 2012
Cattle
As reported by Federal-State Market News, receipts were 11055 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold mostly steady to $3 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
191.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
169.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
160.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
173.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
154.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
157.00 |
to |
- - - |
Slaughter Cows, Boners 82.00 to 90.00
Light Weight 66.00 to 74.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 100.00
to 110.00
Midwest Steers were at 121.00
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
169.00 |
to |
188.00 |
| |
500 |
to |
550 lbs. |
162.00 |
to |
196.50 |
| Heifers |
450 |
to |
500 lbs. |
155.00 |
to |
176.00 |
| |
500 |
to |
550 lbs. |
150.00 |
to |
168.50 |
Chicago Futures:
| Live Cattle: |
June |
down |
22 |
at |
11765 |
| |
Aug |
down |
70 |
at |
11910 |
| Feeders: |
Aug |
down |
35 |
at |
15850 |
| |
Sept |
down |
62 |
at |
15947 |
Cattle Comment
Cattle futures turned lower, with some contracts posting bearish key reversals. The European debt crisis continues to have an impact on livestock markets. Nearby contracts are trading at a discount to cash prices, but that was ignored today, apparently.
Hogs
Peoria: were $2.50 lower to $1.50 higher
at 54.00 to 56.00
| Chicago Futures: |
June |
up |
100 |
at |
8520 |
| |
July |
up |
55 |
at |
8657 |
Hogs Comment
Hog futures posted gains. The market is optimistic that good product clearance will occur over the holiday weekend. Ample hog supplies are expected to limit upside potential, however.
Poultry Date: March 25, 2012
Eggs
| New York: |
Ex. Lg. 105-109; Lg. 103-107; Med. 75-79; |
| Chicago: |
Ex. Lg. 85-93; Lg. 83-91; Med. 67-75; |
National Turkeys
| Hens: |
8-16 lbs |
105.90 |
| Toms: |
16-24 lbs |
107.37 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are steady at best. Offerings are moderate to at times heavy. Demand is light to moderate entering the weekend. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.