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: |
0¢ |
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 |
3 |
at |
653 3/4 |
| |
Sept |
down |
3 |
at |
669 1/4 |
| |
Dec |
down |
3 1/4 |
at |
691 3/4 |
| |
March |
down |
3 |
at |
710 1/2 |
| |
May |
down |
2 1/2 |
at |
719 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
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: |
0¢ |
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 |
3 |
at |
559 1/2 |
| |
Sept |
up |
4 1/4 |
at |
526 3/4 |
| |
Dec |
up |
3 |
at |
520 1/2 |
| |
March |
up |
3 1/2 |
at |
531 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
1 |
at |
1477 1/2 |
| | Jan |
unchanged |
- - - |
at |
15010 |
| | March |
unchanged |
- - - |
at |
15255 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
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 APrices 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.