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Daily Market Report Archive

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:

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:

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:

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:

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  at  1380 
 Sept up  4 1/2  at  1407 
 Nov up  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 
medium grain rice is 
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 A
Prices 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.