Grain & Soybean Date: May 31, 2012
Soybeans
Local Elevators:
(May) EAST AR: 1309 to 1337
(NC) Summ. 1249 to 1279
River Elevators:
(May) MISS: 1336 to 1355 ; AR & White 1308
to 1326
(NC) Summ. 1264 to 1290
Ark. Processor Bids: (May) 1335 to 1343
(NC) 1274 to 1275
Memphis:
(May) 1345 to 1358 (NC)
1283 1/4 to 1285 1/4
Riceland Foods:
(May) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
July |
down |
33 1/4 |
at |
1340 |
| |
Aug |
down |
31 3/4 |
at |
1322 3/4 |
| |
Sept |
down |
27 1/4 |
at |
1293 3/4 |
| |
Nov |
down |
22 3/4 |
at |
1270 1/4 |
| |
Jan |
down |
22 1/4 |
at |
1273 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were the downside leader today with losses up to 30 cents. Rains across parts of the Midwest and southeast production areas dampened not only crops but speculative concerns. While there remain dry pockets around the country overall soybean conditions are good with 89% of the crop planted, and 61% of crop emerged. Emergence is double the 5 year average of just 30%. November futures closed over 20 cents lower and remains in position to test support around $12.50.
Wheat
Cash bid for May at Memphis 635 3/4 to 638 3/4;
| Bids to farmers at Local Elevators |
619-634; |
| River Elevators |
608-634; |
| Chicago Futures: |
July |
down |
10 |
at |
643 3/4 |
| |
Sept |
down |
8 1/2 |
at |
660 3/4 |
| |
Dec |
down |
7 1/2 |
at |
684 1/4 |
| |
March |
down |
6 1/4 |
at |
704 1/74 |
| |
May |
down |
5 3/4 |
at |
713 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for May at Memphis 956 to 965;
| Bids to farmers at River Elevators |
884-911; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
May at Memphis
568 1/4 to 585 1/4; |
| |
New Crop at Memphis
505 1/2 to 510 1/2; |
| Bids to farmers at River Elevators |
570 to 585 |
| Chicago Futures: |
July |
down |
4 1/4 |
at |
555 1/4 |
| |
Sept |
down |
1 1/4 |
at |
525 1/2 |
| |
Dec |
up |
1 1/2 |
at |
522 |
| |
March |
up |
1 3/4 |
at |
532 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat was lower again today. There wasn’t much in the fundamental arena to move the market much either way. Much needed moisture has materialized in U.S. and European growing regions, causing conjecture about the quality of the wheat crop in those areas. July doesn’t have much technical support above the key $6 mark at this point.
Corn ended the session narrowly mixed with new crop December support near $5. Rain is easing concern about the crop and cooler temperatures are reducing crop stress. This year crop appears well on the way to making a production record. A crop of 14.8 billion bushels remains not only possible but likely at this point.
Cotton & Rice Date: May 31, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 64 at
6755 |
| |
Greenwood up
64 at 6755 |
| New York Futures: |
July |
up |
64 |
at |
7155 |
| |
Oct |
up |
26 |
at |
7185 |
| | Dec |
up |
7 |
at |
7035 |
| | March |
up |
12 |
at |
7242 |
| | May |
up |
15 |
at |
7396 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton firmed closing slightly higher. However, that is about all that can be said. There is going to be huge stocks of cotton available to market that is struggling to regain lost market share. Upside potential will be tied to demand and chances of the market making a major upsurge is limited. Long term charts have some support around 66 cents.
Rice
| Long Grain Cash Bid for |
May |
1276/cwt |
to |
- - - |
| |
NC |
1300/cwt |
to |
- - - |
| Chicago Futures: |
July |
down |
4 |
at |
1422 1/2 |
| | Sept |
down |
3 1/2 |
at |
1449 |
| | Nov |
down |
2 1/2 |
at |
1475 |
| | Jan |
down |
1 1/2 |
at |
1499 1/2 |
| | March |
down |
1 1/2 |
at |
1524 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was slightly lower today as September futures continue to test moderate support at $14.50. This week’s crop progress report indicate a little deterioration, but overall at 66% good to excellent is much better than last year. Large world stocks will continue to be a major factor in the international market. Thailand has around 12 mmt of rice stocked away in this year’s intervention program. At some point a good portion of it is likely to find its way into the market.
Cattle & Hogs Date: May 31, 2012
Cattle
As reported by Federal-State Market News, receipts were 3089 head
at sales in Charlotte, Ratcliff, & Green Forest.
Compared with last week, feeder steers sold steady to $4 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
192.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
175.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
162.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
177.25 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
157.25 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
157.25 |
to |
- - - |
Slaughter Cows, Boners 77.00 to 87.00
Light Weight 65.00 to 73.00
Bulls, Yield Grade 1-2
1000 to 2100 lbs. 99.00
to 105.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
168.00 |
to |
178.00 |
| |
550 |
to |
600 lbs. |
159.00 |
to |
166.00 |
| Heifers |
450 |
to |
500 lbs. |
166.00 |
to |
169.00 |
| |
500 |
to |
600 lbs. |
149.50 |
to |
164.00 |
Chicago Futures:
| Live Cattle: |
June |
up |
85 |
at |
11730 |
| |
Aug |
up |
107 |
at |
11900 |
| Feeders: |
Aug |
up |
72 |
at |
15680 |
| |
Sept |
up |
75 |
at |
15812 |
Cattle Comment
Cattle futures recovered most of what was lost in yesterday’s trade. Strength in wholesale beef prices and smaller showlists were supportive. Carryover strength from the hog pit was also a factor.
Hogs
Peoria: were steady
at 53.00 to 55.00
| Chicago Futures: |
June |
up |
252 |
at |
8970 |
| |
July |
up |
285 |
at |
9085 |
Hogs Comment
Hog futures posted sharp gains. Yesterday’s $1.95 increase in the composite pork cutout went a long way in improving packer margins. Holiday pork clearance was strong and has given the market something to build on. Packer margins have gotten a boost this week from higher carcass values. Ample hog supplies are expected to limit upside potential, however. The June contract is now in position to challenge resistance at a chart gap between $90.07 and $90.22.
Poultry Date: March 31, 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 for current trade needs. 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.