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Daily Market Report Archive

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:

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:

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:

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 
medium grain rice is 
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 A
Prices 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.