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Daily Market Report Archive

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 at  1364
  Nov up 5 3/4  at  1337
  Jan up at  1336
  Today's Arkansas LDP rate for soybeans is:

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:

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:

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  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:

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  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  at  1434 
 Nov up  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 
medium grain rice is 
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 A
Prices 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.