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: |
0¢ |
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 |
8 |
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: |
0¢ |
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: |
0¢ |
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: |
0¢ |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 APrices 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.