Grain & Soybean Date: June 11, 2012
Soybeans
Local Elevators:
(June) EAST AR: 1384 to 1413
(NC) Summ. 1315 to 1340
River Elevators:
(June) MISS: 1421 to 1457 ; AR & White 1393
to 1411
(NC) Summ. 1325 to 1351
Ark. Processor Bids: (June) 1410 to 1428
(NC) 1335 to 1336
Memphis:
(June) 1432 3/4 to 1449 3/4 (NC)
1344 1/4 to 1346 1/4
Riceland Foods:
(June) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
July |
down |
1 1/2 |
at |
1424 3/4 |
| |
Aug |
down |
1 1/2 |
at |
1399 |
| |
Sept |
down |
1 |
at |
1361 |
| |
Nov |
down |
1 1/4 |
at |
1331 1/4 |
| |
Jan |
down |
1 3/4 |
at |
1330 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed slightly lower ahead of the June supply demand report. Dry weather remains a key factor as anticipated rains across dry areas of the Midwest failed to materialize. Upside potential will be determined by the report & whether there is rain in the near future. A November closed above $12.50 wild signal further gains.
Wheat
Cash bid for June at Memphis 625 1/2 to 626 1/2;
| Bids to farmers at Local Elevators |
591-606; |
| River Elevators |
592-627; |
| Chicago Futures: |
July |
up |
1/4 |
at |
630 1/2 |
| |
Sept |
up |
1/4 |
at |
648 1/4 |
| |
Dec |
down |
1 |
at |
671 3/4 |
| |
March |
down |
1 1/4 |
at |
693 1/2 |
| |
May |
down |
2 1/2 |
at |
708 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for June at Memphis 1021 to 1030;
| Bids to farmers at River Elevators |
950-977; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
June at Memphis
609 to 628; |
| |
New Crop at Memphis
520 1/2 to 524 1/2; |
| Bids to farmers at River Elevators |
607 to 622 |
| Chicago Futures: |
July |
down |
5 1/2 |
at |
592 1/2 |
| |
Sept |
down |
10 1/2 |
at |
540 1/2 |
| |
Dec |
down |
10 |
at |
534 |
| |
March |
down |
10 |
at |
546 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures ended mixed today. Export inspections were as expected. Wheat harvest is progressing well ahead of schedule, but yield reports are highly variable. Tomorrow's report is expected to show total wheat production of 2.222 billion bushels.
Corn was hit hard going into tomorrow's report. Funds were evening up as most outside markets turned negative after making early gains. A bailout for Spain lost momentum early. December futures failed to break above $5.50, which would have signaled further gains. Dry weather impacts may be over ridden by the report.
Cotton & Rice Date: June 11, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 219 at
7109 |
| |
Greenwood up
219 at 7109 |
| New York Futures: |
July |
up |
219 |
at |
7509 |
| |
Oct |
up |
3 |
at |
6875 |
| | Dec |
down |
59 |
at |
6929 |
| | March |
down |
71 |
at |
7101 |
| | May |
down |
66 |
at |
7194 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton was mostly lower, the exception being nearby July. Upside potential will be limited by big world stocks. Unless there are some big surprises in the report it will be difficult for December to move to the 38 percent retrace meant near 77 cents.
Rice
| Long Grain Cash Bid for |
June |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
July |
up |
1/2 |
at |
1405 1/2 |
| | Sept |
up |
1/2 |
at |
1430 |
| | Nov |
down |
1 |
at |
1455 |
| | Jan |
down |
1 1/2 |
at |
1483 |
| | March |
down |
1 1/2 |
at |
1511 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice closed narrowly mixed ahead of the June report. Overall fundamentals remain mixed with large world stocks overhanging the market. On the positive side another small crop should leave U.S. stocks tighter and allow for possible price improvement sometime down the line.
Cattle & Hogs Date: June 11, 2012
Cattle
As reported by Federal-State Market News, receipts were 3074 head
at sales in Ash Flat, Springdale, Ola, and Heber Springs.
Compared with last week, feeder steers sold unevenly, averaging near steady .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
187.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
171.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
157.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
174.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
152.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
149.50 |
to |
- - - |
Slaughter Cows, Boners 73.00 to 80.00
Light Weight 62.00 to 68.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 94.00
to 102.00
Midwest Steers were at 119.00
to 122.00
Panhandle Steers were at 122.00
to 122.00
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
193.50 |
to |
198.00 |
| |
550 |
to |
600 lbs. |
169.00 |
to |
172.50 |
| Heifers |
400 |
to |
500 lbs. |
160.00 |
to |
170.00 |
| |
500 |
to |
550 lbs. |
158.50 |
to |
164.50 |
Chicago Futures:
| Live Cattle: |
June |
down |
37 |
at |
11950 |
| |
Aug |
down |
52 |
at |
12030 |
| Feeders: |
Aug |
up |
87 |
at |
16025 |
| |
Sept |
up |
90 |
at |
16142 |
Cattle Comment
Feeder cattle were higher today on lower corn futures. Live cattle were under pressure from ideas cash prices have set a seasonal top.
Hogs
Peoria: were $1 lower to $3 higher
at 58.00 to 60.00
| Chicago Futures: |
June |
up |
30 |
at |
9332 |
| |
July |
up |
75 |
at |
9367 |
Hogs Comment
Hog futures were mostly higher on Friday's 95 cent rise in the composite pork cutout. Improving packer margins are a result. However, average hog weights are 5 lbs. heavier than a year ago, and that is limiting the upside.
Poultry Date: June 11, 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 |
107.00 |
| Toms: |
16-24 lbs |
108.00 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are steady. Offerings are moderate. 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 mostly desirable weights.