Grain & Soybean Date: June 12, 2012
Soybeans
Local Elevators:
(June) EAST AR: 1394 to 1423
(NC) Summ. 1321 to 1346
River Elevators:
(June) MISS: 1431 to 1467 ; AR & White 1403
to 1421
(NC) Summ. 1331 to 1357
Ark. Processor Bids: (June) 1420 to 1438
(NC) 1341 to 1342
Memphis:
(June) 1438 to 1465 (NC)
1350 to 1352
Riceland Foods:
(June) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
July |
up |
10 1/4 |
at |
1435 |
| |
Aug |
up |
2 1/4 |
at |
1401 1/4 |
| |
Sept |
up |
3 |
at |
1364 |
| |
Nov |
up |
5 3/4 |
at |
1337 |
| |
Jan |
up |
6 |
at |
1336 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans posted gains today, but the gains were less than spectacular considering the USDA supply/demand report. The carryout estimate of 175 million bushels is down 17% from last month’s estimate and a whopping 100 million bushels (36%) below the February estimate. However, big estimates for South American production seemed to keep the market grounded today. November is struggling with resistance at $13.50.
Wheat
Cash bid for June at Memphis 601 to 606;
| Bids to farmers at Local Elevators |
576-596; |
| River Elevators |
577-612; |
| Chicago Futures: |
July |
down |
14 1/2 |
at |
616 |
| |
Sept |
down |
13 1/2 |
at |
634 3/4 |
| |
Dec |
down |
12 1/4 |
at |
659 1/2 |
| |
March |
down |
12 3/4 |
at |
680 3/4 |
| |
May |
down |
14 1/2 |
at |
693 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for June at Memphis 1007 to 1016;
| Bids to farmers at River Elevators |
936-963; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
June at Memphis
597 to 620; |
| |
New Crop at Memphis
491 1/2 to 510 1/2; |
| Bids to farmers at River Elevators |
601 to 614 |
| Chicago Futures: |
July |
down |
8 |
at |
584 |
| |
Sept |
down |
14 |
at |
526 1/2 |
| |
Dec |
down |
11 1/2 |
at |
522 1/2 |
| |
March |
down |
11 1/2 |
at |
534 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
The supply/demand report was also bullish for wheat, but futures followed corn l lower instead. USDA lowered the world production estimate by 7 million metric tons, mostly due to dry weather in Russia and Eastern Europe.
Corn carryout was unchanged in today’s report, and that was seen as bearish. Add to that beneficial rains throughout Missouri and Southern Illinois and you get double-digit losses in the corn pit. December has key support at $5.
Cotton & Rice Date: June 12, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 48 at
71.57 |
| |
Greenwood up
48 at 71.57 |
| New York Futures: |
July |
up |
48 |
at |
7557 |
| |
Oct |
down |
94 |
at |
6781 |
| | Dec |
down |
45 |
at |
6884 |
| | March |
down |
26 |
at |
7075 |
| | May |
down |
9 |
at |
7185 |
| This week's LDP rate for cotton is |
0¢ cents |
| |
The estimate for next week is |
0¢ cents |
Cotton Comment
Cotton futures ended mixed. Old crop contracts were supported by a 200,000 bale cut in the 2011-2012 carryout estimate due to recent increased exports. New crop contracts turned lower as 12-13 numbers were unchanged. World carryout for 2012 is estimated at 67.3 million bales, and 2013 is expected to increase to a whopping 74.5 million.
Rice
| Long Grain Cash Bid for |
June |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
July |
up |
4 1/2 |
at |
1410 |
| | Sept |
up |
4 |
at |
1434 |
| | Nov |
up |
6 |
at |
1460 |
| | Jan |
up |
2 1/2 |
at |
1485 1/2 |
| | March |
unchanged |
- - - |
at |
1511 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were higher today in reaction to the supply/demand report. Carryout was lowered to 29.5 million bushels, down from 34 million. This is due mainly to a smaller U.S. crop, and large world stocks continue to hang over the market.
Cattle & Hogs Date: June 12, 2012
Cattle
As reported by Federal-State Market News, receipts were 1360 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers sold mostly firm to $3 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
187.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
160.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
153.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
171.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
151.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
141.00 |
to |
- - - |
Slaughter Cows, Boners 73.00 to 80.00
Light Weight 59.00 to 66.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 94.00
to 104.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
178.00 |
to |
184.00 |
| |
500 |
to |
600 lbs. |
163.00 |
to |
177.00 |
| Heifers |
450 |
to |
500 lbs. |
160.50 |
to |
165.00 |
| |
500 |
to |
550 lbs. |
154.50 |
to |
163.50 |
Chicago Futures:
| Live Cattle: |
June |
up |
5 |
at |
11955 |
| |
Aug |
steady |
- - - |
at |
12030 |
| Feeders: |
Aug |
up |
90 |
at |
16115 |
| |
Sept |
up |
80 |
at |
16222 |
Cattle Comment
Cattle futures were mixed. Feeders continue to be supported by lower corn prices. Live futures are under pressure from ideas cash prices have set a seasonal top.
Hogs
Peoria: were $1.50 lower to $2.50 higher
at 58.50 to 60.50
| Chicago Futures: |
June |
up |
20 |
at |
9352 |
| |
July |
down |
87 |
at |
9280 |
Hogs Comment
Hog futures turned lower across the board. USDA increased their pork production estimate by 85 million pounds in today’s report. The increase was partially offset by an increased export projection, however, the price estimate was lowered $59-$61, down from the previous estimate of $61-$63.
Poultry Date: June 12, 2012
Eggs
| New York: |
Ex. Lg. 96-104; Lg. 94-102; Med. 67-75; |
| Chicago: |
Ex. Lg. 105-109; Lg. 103-107; Med. 75-79; |
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. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.