Grain & Soybean Date: May 29, 2012
Soybeans
Local Elevators:
(May) EAST AR: 1356 to 1384
(NC) Summ. 1273 to 1303
River Elevators:
(May) MISS: 1383 to 1404 ; AR & White 1355
to 1373
(NC) Summ. 1288 to 1314
Ark. Processor Bids: (May) 1382 to 1390
(NC) 1298 to 1299
Memphis:
(May) 1391 3/4 to 1404 3/4 (NC)
1308 1/2 to 1312 1/2
Riceland Foods:
(May) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
July |
up |
4 3/4 |
at |
1386 3/4 |
| |
Aug |
up |
5 1/4 |
at |
1367 1/4 |
| |
Sept |
up |
5 |
at |
1326 3/4 |
| |
Nov |
up |
4 1/4 |
at |
1293 1/2 |
| |
March |
up |
6 1/2 |
at |
1272 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans maintained a steady to firm market undertone. Moves by the Chinese government to stimulate their economic growth played well with soybeans. Prospects of a smaller Chinese crop provided some support and kept the market from following corn and wheat lower. November futures moved above $13 briefly, but couldn’t hold under pressure from weakness in grains.
Wheat
Cash bid for May at Memphis 646 3/4 to 650 3/4;
| Bids to farmers at Local Elevators |
632-647; |
| River Elevators |
621-647; |
| Chicago Futures: |
July |
down |
23 1/4 |
at |
656 3/4 |
| |
Sept |
down |
22 1/4 |
at |
672 1/4 |
| |
Dec |
down |
20 1/2 |
at |
695 |
| |
March |
down |
17 1/2 |
at |
713 1/2 |
| |
May |
down |
16 1/2 |
at |
721 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for May at Memphis 969 to 978;
| Bids to farmers at River Elevators |
898-925; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
May at Memphis
582 1/2 to 592 1/2; |
| |
New Crop at Memphis
502 1/2 to 512 1/2; |
| Bids to farmers at River Elevators |
578 to 593 |
| Chicago Futures: |
July |
down |
16 |
at |
562 1/2 |
| |
Sept |
down |
4 |
at |
522 1/2 |
| |
Dec |
down |
4 |
at |
517 1/2 |
| |
March |
down |
5 1/4 |
at |
527 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat posted double-digit losses in today’s trade. Much needed rain fell in wheat growing regions in the U.S. and in Europe over the weekend. Enough, at least, to call into question just how much yield will be impacted by the drought. A weaker dollar should have been supportive today. July fell below last week’s low near $6.60, which could signal further losses are possible.
Corn was under pressure early as the market focused on the fact that some areas received rain over the weekend. Forecasts of more rain this week added to the negative pressure. December futures have slipped back toward the bottom of a 50 cents wide trading range, and are in position to test support just under $5.
Cotton & Rice Date: May 29, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 82 at
6880 |
| |
Greenwood down
82 at 6880 |
| New York Futures: |
July |
down |
82 |
at |
7280 |
| |
Oct |
down |
1 |
at |
7271 |
| | Dec |
up |
41 |
at |
7130 |
| | March |
up |
83 |
at |
7300 |
| | May |
up |
95 |
at |
7451 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton closed mixed with nearby contracts lower. December futures have retraced a portion of recent declines, rebounding after briefly falling below 68 cents. Huge world stocks will limit upside potential in the foreseeable future. USDA is projected growth in world stocks of almost 7 million bales with this year’s crop.
Rice
| Long Grain Cash Bid for |
May |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
July |
down |
25 1/2 |
at |
1425 |
| | Sept |
down |
24 1/2 |
at |
1451 |
| | Nov |
down |
24 |
at |
1476 1/2 |
| | Jan |
down |
24 |
at |
1501 |
| | March |
down |
24 |
at |
1525 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures continued last week’s downturn with September hitting $14.50 in today’s trading. There is little fresh fundamental news to give the market a new direction. September is approaching the next technical support at $14.30. A smaller U.S. crop could be a factor at some point later in the year, but for now the market seems focused on big supplies in Thailand and India. Weakness in corn and wheat just added to the negative undertone.
Cattle & Hogs Date: May 29, 2012
Cattle
As reported by Federal-State Market News, receipts were 3923 head
at sales in Ash Flat, Springdale, Ola, and Heber Springs.
Compared with last week, feeder steers sold mostly $1 to $3 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
186.25 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
169.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
156.25 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
175.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
153.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
155.50 |
to |
- - - |
Slaughter Cows, Boners 78.00 to 86.00
Light Weight 64.00 to 70.50
Bulls, Yield Grade 1
1000 to 2100 lbs. 95.00
to 105.00
Midwest Steers were at 120.00
to 122.00
Panhandle Steers were at 117.50
to 123.00
Oklahoma City Feeders
|
| Steers |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| Heifers |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Chicago Futures:
| Live Cattle: |
June |
up |
20 |
at |
11785 |
| |
Aug |
up |
50 |
at |
11960 |
| Feeders: |
Aug |
down |
92 |
at |
15757 |
| |
Sept |
down |
80 |
at |
15867 |
Cattle Comment
Cattle futures were mixed, with live contracts moving higher. Optimism about the global economic situation carried over from the stock market and the weaker dollar today, and live cattle futures were carried higher. Shrinking supplies are also a positive for the market.
Hogs
Peoria: were steady
at 54.00 to 56.00
| Chicago Futures: |
June |
up |
115 |
at |
8635 |
| |
July |
up |
110 |
at |
8767 |
Hogs Comment
Hog futures posted gains as well. Ample hog supplies are expected to limit upside potential, however. Packer margins are still very much in the red, and that will likely be a factor as well.
Poultry Date: March 29, 2012
Eggs
| New York: |
Ex. Lg. 105-109; Lg. 103-107; Med. 75-79; |
| Chicago: |
Ex. Lg. 96-104; Lg. 94-102; 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 following the holiday weekend. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.