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Daily Market Report Archive

Grain & Soybean Date: June 06, 2012

Soybeans

Local Elevators:
(June) EAST AR:  1345 to 1374
(NC) Summ. 1283 to 1308
River Elevators:
(June) MISS: 1382 to 1414 ; AR & White 1354 to 1372
(NC) Summ. 1293 to 1319
Ark. Processor Bids: (June) 1371 to 1389  (NC) 1303 to 1304
Memphis:  (June) 1392 1/4 to 1411 1/4 (NC)  1312 1/4 to 1314 1/4
Riceland Foods:  (June) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: July up 37 1/2 at  1387
  Aug  up  32  at  1364 1/2
  Sept up 10 3/4  at  1302 1/2
  Nov up 22  at  1299
  Jan up 7 3/4  at  1279 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed with solid gains for the second day in a row. An improved outlook in Europe and the U.S. boosted equities and crude oil while the dollar turned lower. All were positive for increased fund buying which lifted all the crops. November moved above $13 during the session, but retraced a portion of the gains to close just under that level. A close above $13.20 would signal another round of gains.

Wheat
Cash bid for June at Memphis  617 1/4 to 619 1/4;

Bids to farmers at Local Elevators 589-604;
River Elevators 588-621;

Chicago Futures: July up  11  at  624 1/4 
  Sept up 8 3/4  at  639 1/4 
  Dec up  at  665 
  March up  7 1/2  at  687 1/4 
  May up  9 1/2  at  703 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  1011 to 1020;

Bids to farmers at River Elevators 939-966;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for June at Memphis   601 1/4 to 620 1/4;
  New Crop at Memphis   507 1/2 to 512 1/2;
Bids to farmers at River Elevators  601 to 616

Chicago Futures: July up  18 3/4  at  586 1/4 
  Sept up  11 1/2  at  527 1/2 
  Dec up  11 3/4  at  519 1/2 
  March up  12 1/4  at  531 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat is attempting to consolidate in a pretty narrow range. Early support today came from optimism that the U.S. Federal Reserve and the European Central Bank with take action to stimulate the economy. As far as wheat market fundamentals go, 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 scored double digit gains to move December off support near $5. Gains were noted despite indications Brazil will become a competition of the U.S. for the Chinese import market. Brazil is expected to gain clearance to ship corn soon. For now December futures remain in a tight trading range of about 25 cents. A close below $4.99 would be negative, while a close $5.25 would be positive. Long range the market is likely to work lower.



Cotton & Rice  Date: June 06, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 300 at  6589
  Greenwood up  300 at 6589

New York Futures: July up  300  at  6989 
  Oct up  209  at  6745 
 Dec up  300  at  6836 
 March up  258  at  7012 
 May up  220  at  7103 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton registered limit gains in a couple of contracts as the market appears to have found support just under 65 cents. Expectations of improving economic conditions in Europe provided the basis for today’s upturn. Fundamentals are unchanged with huge world stocks expected to limit rebounds.

Rice

Long Grain Cash Bid for  June - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: July up  26 1/2  at  1406 1/2 
 Sept up  26  at  1433 
 Nov up  25  at  1459 1/2 
 Jan up  24 1/2  at  1485 
 March up  25 1/2  at  1510 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice bounced off recent support near $14 to close with solid gains. Without any fresh fundamental news buying appears to have been technical in nature. Positive outside markets were also a factor.



Cattle & Hogs  Date: June 06, 2012

Cattle
As reported by Federal-State Market News, receipts were 1152 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold weak to $6 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 175.50 to - - -
  500 to 550 lbs. 170.00 to - - -
  600 to 650 lbs. 149.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 164.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 144.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 145.50 to - - -

Slaughter Cows, Boners 75.00   to   82.00
Light Weight 64.00 to 68.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   95.00   to   104.00
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. 182.00 to 188.50
Heifers 450 to 500 lbs. 167.50 to 177.50
  500 to 550 lbs. 158.00 to 169.00

Chicago Futures:
Live Cattle: June up 55 at 11767
  Aug up 10 at 11930
Feeders: Aug down 122 at 15795
  Sept down 75 at 15925

Cattle Comment
Cattle futures were mixed again today. Economic worries continue 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 $1 lower to $3     higher   at   57.00   to   59.00

Chicago Futures: June up 85 at 9195
  July up 112 at 9270

Hogs Comment
Hog futures turned higher today. Supplies should continue to tighten over the near term, however, packer margins remain in the red for the time being and that could limit upside potential.



Poultry  Date: June 06, 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. Demand is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.