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Daily Market Report Archive

Grain & Soybean Date: June 13, 2012

Soybeans

Local Elevators:
(June) EAST AR:  1367 to 1396
(NC) Summ. 1304 to 1329
River Elevators:
(June) MISS: 1433 to 1440 ; AR & White 1376 to 1394
(NC) Summ. 1314 to 1340
Ark. Processor Bids: (June) 1393 to 1411  (NC) 1324 to 1325
Memphis:  (June) 1411 1/4 to 1438 1/4 (NC)  1334 3/4 to - - -
Riceland Foods:  (June) Stuttgart 1393 ; Pendleton 1395 
 (NC) Stuttgart 1324 ; Pendleton 1329 

Chicago Futures: July down 26 3/4 at  1408 1/4
  Aug  down  23 1/2  at  1377 3/4
  Sept down 20 3/4  at  1343 1/4
  Nov down 17 1/4  at  1319 3/4
  Jan down 15 1/2  at  1320 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans plummeted today. Negative economic news and forecasts for beneficial rains throughout the Midwest added to the negative undertone. November failed at resistance at $13.50.

Wheat
Cash bid for June at Memphis  600 to 606;

Bids to farmers at Local Elevators 576-596;
River Elevators 577-612;

Chicago Futures: July unchanged  - - -  at  616 
  Sept down 1/2  at  634 1/4 
  Dec unchanged  - - -  at  659 1/2 
  March down  1/2  at  680 1/4 
  May down  at  691 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  1022 to 1031;

Bids to farmers at River Elevators 952-979;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for June at Memphis   611 1/2 to 628 1/2;
  New Crop at Memphis   480  to 499;
Bids to farmers at River Elevators  610 to 623

Chicago Futures: July up  8 1/2  at  592 1/2 
  Sept down  11 1/2  at  515 
  Dec down  12  at  510 1/2 
  March down  12  at  522 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were mixed on support from yesterday’s report. USDA lowered the world production estimate by 7 million metric tons, mostly due to dry weather in Russia and Eastern Europe. Today’s weaker dollar was also supportive.

Corn futures were mixed today, with new crop posting double digit losses again today. Beneficial rains throughout Missouri and Southern Illinois this week and forecasts for more widespread moisture throughout the Midwest continue to pressure the market. December has key support at $5.



Cotton & Rice  Date: June 13, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 48 at  7109
  Greenwood down  48 at 7109

New York Futures: July down  48  at  7509 
  Oct up  145  at  6926 
 Dec up  157  at  7041 
 March up  163  at  7238 
 May up  169  at  7354 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures were mixed again today. Old crop contracts were supported by a 200,000 bale cut in the 2011-2012 carryout estimates 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 13.40/cwt  to  - - -
  NC 12.71/cwt  to  - - -

Chicago Futures: July down  20 1/2  at  1389 1/2 
 Sept down  23  at  1411 
 Nov down  23  at  1437 
 Jan down  21  at  1464 1/2 
 March down  18 1/2  at  1493 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures succumbed to carryover pressure from other markets today. Yesterday’s supply/demand report provided mixed news. 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 13, 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 unevenly .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 182.00 to - - -
  500 to 550 lbs. 170.00 to - - -
  600 to 650 lbs. 157.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 161.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 150.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 144.50 to - - -

Slaughter Cows, Boners 72.00   to   79.00
Light Weight 56.00 to 63.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   90.00   to   100.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 500 lbs. 193.50 to 200.00
  500 to 600 lbs. 168.00 to 184.00
Heifers 400 to 500 lbs. 160.00 to 171.00
  500 to 600 lbs. 152.00 to 166.50

Chicago Futures:
Live Cattle: June down 245 at 11710
  Aug down 232 at 11797
Feeders: Aug down 280 at 15835
  Sept down 272 at 15950

Cattle Comment
Cattle futures lower across the board. 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   59.00   to   61.00

Chicago Futures: June up 45 at 9397
  July up 115 at 9395

Hogs Comment
Hog futures posted gains today on firmer cash prices. USDA increased their pork production estimate by 85 million pounds in yesterday’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 13, 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 A
Prices for whole broiler/fryers are steady to weak. Offerings are moderate to heavy. Demand is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.