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Daily Market Report Archive

Grain & Soybean Date: May 30, 2012

Soybeans

Local Elevators:
(May) EAST AR:  1342 to 1370
(NC) Summ. 1272 to 1302
River Elevators:
(May) MISS: 1369 to 1388 ; AR & White 1341 to 1359
(NC) Summ. 1287 to 1313
Ark. Processor Bids: (May) 1368 to 1376  (NC) 1297 to 1298
Memphis:  (May) 1378 1/4 to 1391 1/4 (NC)  1308 to 1310
Riceland Foods:  (May) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: July down 13 1/2 at  1373 1/4
  Aug  down  12 3/4  at  1354 1/2
  Sept down 5 3/4  at  1321
  Nov down 1/2  at  1293
  March up 1 1/4  at  1274
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans ended mixed. A higher dollar pressured nearby futures, but deferred contracts turned higher late in the day. Prospects of a smaller Chinese crop provided some support. Crop condition ratings for soybeans didn’t change from last week, so no support from that report this week. November futures have resistance at $13.

Wheat
Cash bid for May at Memphis  643 3/4 to 651 3/4;

Bids to farmers at Local Elevators 629-644;
River Elevators 618-645;

Chicago Futures: July down  at  653 3/4 
  Sept down at  669 1/4 
  Dec down  3 1/4  at  691 3/4 
  March down  at  710 1/2 
  May down  2 1/2  at  719 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  643 3/4 to 651 3/4;

Bids to farmers at River Elevators 893-920;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   572 1/2 to 589 1/2;
  NC at Memphis   506 3/4 to 511 3/4;
Bids to farmers at River Elevators  577 to 590

Chicago Futures: July down  at  559 1/2 
  Sept up  4 1/4  at  526 3/4 
  Dec up  at  520 1/2 
  March up  3 1/2  at  531 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was lower again today. A stronger dollar was a factor. Much needed rain fell in wheat growing regions in the U.S. and in Europe over the weekend. Wheat futures in Europe were sharply lower today, and that weakness carried over to the U.S. markets. July fell below last week’s low near $6.60, which could signal further losses are possible.

Corn futures ended mixed, with nearby contracts impacted by the stronger dollar. New crop contracts were higher thanks to a 5% drop in the percent of the crop rated good to excellent in the weekly USDA crop ratings. Forecasts of more rain this week added to the negative pressure. The December chart still has a negative appearance, and the market has slipped back toward the bottom of a 50 cents wide trading range, and is in position to test support just under $5.



Cotton & Rice  Date: May 30, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 189 at  6691
  Greenwood down  189 at 6691

New York Futures: July down  189  at  7091 
  Oct down  112  at  7159 
 Dec down  102  at  7028 
 March down  70  at  7230 
 May down  70  at  7381 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton closed lower across the board. USDA says that 57% of the crop is in good to excellent condition, with 76% of the crop planted. 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 projecting growth in world stocks of almost 7 million bales with this year’s crop.

Rice

Long Grain Cash Bid for  May 1276/cwt  to  - - -
  NC 1300/cwt  to  - - -

Chicago Futures: July up  1 1/2  at  1426 1/2 
 Sept up  1 1/2  at  1452 1/2 
 Nov up  at  1477 1/2 
 Jan unchanged  - - -  at  15010 
 March unchanged  - - -  at  15255 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were unchanged to higher. September has found some support at $14.50. There is little fresh fundamental news to give the market a new direction. 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 other markets added to the negative undertone.



Cattle & Hogs  Date: May 30, 2012

Cattle
As reported by Federal-State Market News, receipts were 823 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers sold $1 to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 183.00 to - - -
  500 to 550 lbs. 171.00 to - - -
  600 to 650 lbs. 157.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 150.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 142.50 to - - -

Slaughter Cows, Boners 80.00   to   88.50
Light Weight 64.00 to 74.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   97.00   to   107.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: June down 145 at 11645
  Aug down 167 at 11792
Feeders: Aug down 150 at 15607
  Sept down 142 at 15737

Cattle Comment
Cattle futures turned lower across the board, and outside markets were given the blame. Weaker stock markets and crude oil and a higher dollar all carried over to pressure futures. Sharp declines in cash bids were also a factor.

Hogs
Peoria: were $1 higher to $3     lower   at   53.00   to   55.00

Chicago Futures: June up 82 at 8717
  July up 32 at 8800

Hogs Comment
Hog futures posted gains. Packer margins have gotten a boost this week from higher carcass values. Ample hog supplies are expected to limit upside potential, however.



Poultry  Date: March 30, 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 about steady. Offerings are moderate for end of the month business. 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.