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Daily Market Report Archive

Grain & Soybean Date: June 14, 2012

Due to our office closing at 2 p.m. today, our market report includes mid-day prices and comments.

Soybeans

Local Elevators:
(June) EAST AR:  - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(June) MISS: - - - to - - -  ; AR & White - - - to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (June) - - - to - - -  (NC) - - - to - - -
Memphis:  (June) - - - to - - -  (NC)  - - - to - - -
Riceland Foods:  (June) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: - - - - - - at  - - -
  - - -     - - -   at  - - -
  - - - - - -   at  - - -
  - - - - - -   at  - - -
  - - - - - -   at  - - -
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were under pressure again today. Forecasts for beneficial rains throughout the Midwest continue to weigh on the market. Concerns about the Eurozone ahead of Greece’s parliamentary elections are also weighing on futures. Export sales of 36.9 million bushels last week helped limit losses. November failed at resistance at $13.50, but so far have held above support at $13.

Wheat
Cash bid for June at Memphis  - - -  to - - - ;

Bids to farmers at Local Elevators - - - ;
River Elevators - - - ;

Chicago Futures: - - -   - - -   at  - - -  
  - - - - - -   at  - - -  
  - - -   - - -   at  - - -  
  - - -   - - -   at  - - -  
  - - -   - - -   at  - - -  
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  - - -  to - - - ;

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

Corn

Cash bid for June at Memphis   - - -  to - - - ;
  New Crop at Memphis   - - -  to - - - ;
Bids to farmers at River Elevators  - - - to - - -

Chicago Futures: - - -   - - -   at  - - -  
  - - -   - - -   at  - - -  
  - - -   - - -   at  - - -  
  - - -   - - -   at  - - -  
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were trading higher today, but the gains have done nothing to change the fact that the trend is still down. Potential for a smaller crop in Russia and Europe due to drought and tight supplies of high-protein old crop wheat continue to provide some support. Export inspections of 15.5 million bushels was well above trade expectations and also provided a boost today.

Corn futures were trading higher at midday. Beneficial rains throughout Missouri and Southern Illinois this week and forecasts for more widespread moisture throughout the Midwest continue to pressure the market. A weekly export total of only 6.7 million bushels did little to help prices. December has key support at $5.



Cotton & Rice  Date: June 14, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis  - - -  at  - - -
  Greenwood   - - -  at - - -

New York Futures: - - -   - - -   at  - - -  
  - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures up sharply, with nearby contracts up the limit. Weekly export sales of 796,000 bales, mostly to China, are credited with today’s big move. The next upside objective for December is the 38% retracement level of 74.18 cents.

Rice

Long Grain Cash Bid for  June - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
 - - -   - - -   at  - - -  
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were under pressure today. The U.S. market continues to be burdened with old crop supplies at home and large world stocks. According to the USDA however, world stocks are expected to decline in 2013 for the first time in 6 years.



Cattle & Hogs  Date: June 14, 2012

Cattle
As reported by Federal-State Market News, receipts were 3182 head at sales in Charlotte, Ratcliff, & Green Forest.  Compared with last week, feeder steers sold very unevenly, mostly steady to $3 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 189.00 to - - -
  500 to 550 lbs. 179.50 to - - -
  600 to 650 lbs. 164.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 176.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 154.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 155.00 to - - -

Slaughter Cows, Boners 72.00   to   79.00
Light Weight 58.00 to 64.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   93.00   to   104.50
Midwest Steers   were   at   118.00   to   - - -
Panhandle Steers   were   at   119.00   to   - - -

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: June down 75 at 11635
  Aug down 95 at 11702
Feeders: Aug down 215 at 15620
  Sept down 200 at 15750

Cattle Comment
Cattle futures lower across the board. Feeders were under pressure from higher 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   59.50   to   61.50

Chicago Futures: June up 77 at 9475
  July up 57 at 9452

Hogs Comment
Hog futures were mixed. USDA increased their pork production estimate by 85 million pounds in the monthly supply/demand 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 15, 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 for current trade needs. Demand is light approaching the weekend. Market activity is slow. In production areas, live supplies are moderate at mixed, but mostly desirable weights.