Grain & Soybean Date: June 05, 2012
Soybeans
Local Elevators:
(June) EAST AR: 1309 to 1338
(NC) Summ. 1261 to 1286
River Elevators:
(June) MISS: 1346 to 1378 ; AR & White 1318
to 1336
(NC) Summ. 1271 to 1297
Ark. Processor Bids: (June) 1335 to 1353
(NC) 1281 to 1282
Memphis:
(June) 1355 1/2 to 1374 1/2 (NC)
1290 to 1292
Riceland Foods:
(June) Stuttgart 1335 ; Pendleton
1337
(NC) Stuttgart 1281 ; Pendleton
1286
| Chicago Futures: |
July |
up |
9 1/2 |
at |
1349 1/2 |
| |
Aug |
up |
12 3/4 |
at |
1332 1/2 |
| |
Sept |
up |
10 3/4 |
at |
1302 1/2 |
| |
Nov |
up |
8 3/4 |
at |
1277 |
| |
Jan |
up |
7 3/4 |
at |
1279 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed on a firm note following a lower than expected crop progress rating yesterday. The crop was rated 65% good to excellent, but that was the lowest in 7 years and 4% below market expectations. Dry, hot conditions in the Northern China soybean area also provided support, as did a slightly smaller Brazilian crop estimate. November futures are now holding above support at $42.50.
Wheat
Cash bid for June at Memphis 601 1/4 to - - -;
| Bids to farmers at Local Elevators |
573-593; |
| River Elevators |
574-605; |
| Chicago Futures: |
July |
down |
14 1/2 |
at |
613 1/4 |
| |
Sept |
down |
15 1/2 |
at |
630 1/2 |
| |
Dec |
down |
15 1/2 |
at |
657 |
| |
March |
down |
16 |
at |
679 3/4 |
| |
May |
down |
15 3/4 |
at |
693 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for June at Memphis 978 to 1013;
| Bids to farmers at River Elevators |
907-937; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
June at Memphis
580 1/2 to 601 1/2; |
| |
New Crop at Memphis
496 to 501; |
| Bids to farmers at River Elevators |
583 to 598 |
| Chicago Futures: |
July |
down |
1/2 |
at |
567 1/2 |
| |
Sept |
down |
11 1/2 |
at |
516 |
| |
Dec |
down |
16 |
at |
507 3/4 |
| |
March |
down |
16 |
at |
519 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat posted sharp losses today, after recovering a bit on Monday. A quickly moving harvest will pressure the market, while poor yields in the Sothern plains are supportive. July support is seen around $5.90.
Corn took a late hit which resulted in double digit declines in everything except nearby July. An almost 2 million metric tonne increase in the Brazilian corn crop provided most of the downside pressure. The late decline left December less than a dime above key support. A close below the recent low of $4.99 could signal another leg down in this market.
Cotton & Rice Date: June 05, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis unchanged - - - at
6289 |
| |
Greenwood unchanged
- - - at 6289 |
| New York Futures: |
July |
down |
164 |
at |
6689 |
| |
Oct |
down |
242 |
at |
6536 |
| | Dec |
down |
170 |
at |
6536 |
| | March |
down |
173 |
at |
6754 |
| | May |
down |
198 |
at |
6883 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton continued under heavy pressure with December closing at the lowest level in over 2 years. December has lost 20 cents over the last 4 weeks and there is relatively little chart support to suggest a possible bottom. Poor world economic conditions and huge world stocks are expected to plague this market for the foreseeable future.
Rice
| Long Grain Cash Bid for |
June |
12.60/cwt |
to |
- - - |
| |
NC |
12.57/cwt |
to |
- - - |
| Chicago Futures: |
July |
up |
4 |
at |
1380 |
| | Sept |
up |
4 1/2 |
at |
1407 |
| | Nov |
up |
6 |
at |
1434 1/2 |
| | Jan |
up |
7 1/2 |
at |
1460 1/2 |
| | March |
up |
8 1/2 |
at |
1485 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures firmed slightly with September again finding support at $14. The only positive factor is the smaller U.S. plantings which should allow for a fairly tight stocks situation here, sometime later in the year. World stocks remain large with Thailand holding huge 2012 intervention stocks. This will limit upside potential.
Cattle & Hogs Date: June 05, 2012
Cattle
As reported by Federal-State Market News, receipts were 1259 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers sold mostly $2 to $4 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
181.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
163.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
159.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
170.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
148.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
146.00 |
to |
- - - |
Slaughter Cows, Boners 77.00 to 85.00
Light Weight 59.00 to 67.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 94.50
to 105.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
400 |
to |
500 lbs. |
188.00 |
to |
201.00 |
| |
500 |
to |
550 lbs. |
171.00 |
to |
188.50 |
| Heifers |
450 |
to |
500 lbs. |
167.50 |
to |
177.50 |
| |
500 |
to |
600 lbs. |
156.00 |
to |
169.00 |
Chicago Futures:
| Live Cattle: |
June |
down |
55 |
at |
11712 |
| |
Aug |
down |
77 |
at |
11920 |
| Feeders: |
Aug |
up |
70 |
at |
15917 |
| |
Sept |
up |
32 |
at |
16000 |
Cattle Comment
Cattle turned mixed today. Negative economic news continues to limit upside movement. As supplies tighten, that will become less of a factor. Feeder futures remain in a long term uptrend.
Hogs
Peoria: were $3 lower to $1 higher
at 56.00 to 58.00
| Chicago Futures: |
June |
down |
10 |
at |
9110 |
| |
July |
up |
52 |
at |
9157 |
Hogs Comment
Hog futures closed mixed with seasonal tightness in numbers providing some support and essentially offsetting poor packer margins. Supplies should continue to tighten over the near term.
Poultry Date: June 05, 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 |
109.21 |
| Toms: |
16-24 lbs |
108.41 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are about steady. 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.