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Daily Market Report Archive

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 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:

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:

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:

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  at  522 1/2 
  Dec down  at  517 1/2 
  March down  5 1/4  at  527 1/2 
  Today's Arkansas LDP rate for corn is:

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  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 
medium grain rice is 
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 A
Prices 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.