Grain & Soybean Date: June 15, 2012
Soybeans
Local Elevators:
(June) EAST AR: 1335 to 1364
(NC) Summ. 1298 to 1323
River Elevators:
(June) MISS: 1372 to 1406 ; AR & White 1344
to 1362
(NC) Summ. 1308 to 1334
Ark. Processor Bids: (June) 1361 to 1379
(NC) 1318 to 1319
Memphis:
(June) 1381 to 1403 (NC)
1329 to - - -
Riceland Foods:
(June) Stuttgart 1361 ; Pendleton
1363
(NC) Stuttgart 1318 ; Pendleton
1323
| Chicago Futures: |
July |
down |
10 |
at |
1376 |
| |
Aug |
down |
6 3/4 |
at |
1357 |
| |
Sept |
down |
2 1/4 |
at |
1332 |
| |
Nov |
up |
5 1/4 |
at |
1314 |
| |
Jan |
up |
7 1/2 |
at |
1316 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed mixed with front end contracts lower, despite positive outside markets. The lower dollar and strong equities limited downside movement in distant contracts. Disappointing rains kept traders on the long side for new crop contracts. Gains were limited but did stop the downward slide of the last two days and kept November futures well above $13. Pending elections in Greece kept traders nervous about adding to long positions going into the weekend.
Wheat
Cash bid for June at Memphis 597 1/2 to 604 1/2;
| Bids to farmers at Local Elevators |
570-590; |
| River Elevators |
571-608; |
| Chicago Futures: |
July |
down |
14 |
at |
609 1/2 |
| |
Sept |
down |
14 1/2 |
at |
626 3/4 |
| |
Dec |
down |
15 1/4 |
at |
651 1/4 |
| |
March |
down |
15 1/2 |
at |
671 |
| |
May |
down |
16 1/4 |
at |
680 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for June at Memphis 999 to 1008;
| Bids to farmers at River Elevators |
929-955; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
June at Memphis
598 1/2 to 615 1/2; |
| |
New Crop at Memphis
579 1/2 to 493 1/2; |
| Bids to farmers at River Elevators |
597 to 610 |
| Chicago Futures: |
July |
down |
22 |
at |
579 1/2 |
| |
Sept |
down |
11 1/4 |
at |
509 1/2 |
| |
Dec |
down |
10 |
at |
506 |
| |
March |
down |
9 3/4 |
at |
518 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures posted large losses by the end of the day today, accelerating the downtrend. Look for wheat futures to take direction from corn futures in the near term. Today’s loses pushed July back toward key support at $6.
Corn quickly lost upward momentum and shifted to the downside after July failed to move through resistance just above $6. July ended the session sharply lower and kept the market on the defensive. This is negative considering the strong basis levels being seen and a lack of significant rainfall. December is back to week before last lows and appears ready to test support at $5.
Cotton & Rice Date: June 15, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis - - - at
75.98 |
| |
Greenwood
- - - at 75.98 |
| New York Futures: |
July |
up |
189 |
at |
7998 |
| |
Oct |
up |
58 |
at |
7088 |
| | Dec |
up |
42 |
at |
7102 |
| | March |
up |
32 |
at |
7270 |
| | May |
up |
27 |
at |
7388 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was a little higher today but upside potential is likely very limited, unless and until demand improves. USDA moved projected ending world stocks for the 2012-13 marketing year another 750,000 bales higher. So stocks are projected to be 24.5 million bales, that is a stocks to use of 68%. About 40% would be a more normal situation. Without strong demand from China U.S. stocks could easily exceed the current projection of 4.9 million bales.
Rice
| Long Grain Cash Bid for |
June |
13.42/cwt |
to |
- - - |
| |
NC |
12.75/cwt |
to |
- - - |
| Chicago Futures: |
July |
down |
5 |
at |
1392 |
| | Sept |
down |
6 1/2 |
at |
1415 |
| | Nov |
down |
5 1/2 |
at |
1440 1/2 |
| | Jan |
down |
3 |
at |
1468 |
| | March |
unchanged |
- - - |
at |
1496 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was slightly lower again today as the market can’t seem to muster any upward momentum despite prospects of a smaller 2012 U.S. crop. Milled export demand continues limited with huge stocks of rice available from a number of other countries. Thai stocks continue to build and the =question is how and when they will be sold, or if they will. Offerings from Vietnam and India are hanging around $410 to $420 per tonne. While Thai quotes are near $600 per tonne. U.S. stocks will continue to tighten and that should firm the market eventually.
Cattle & Hogs Date: June 15, 2012
Cattle
As reported by Federal-State Market News, receipts were 13,945 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold mostly weak to $5 lower, instances $6 to $8 lower on lightweight calves .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
179.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
165.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
151.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
168.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
148.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
150.00 |
to |
- - - |
Slaughter Cows, Boners 75.00 to 83.00
Light Weight 60.00 to 68.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 90.00
to 100.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
170.00 |
to |
200.00 |
| |
550 |
to |
600 lbs. |
155.00 |
to |
178.00 |
| Heifers |
450 |
to |
500 lbs. |
156.00 |
to |
171.00 |
| |
500 |
to |
550 lbs. |
142.00 |
to |
166.50 |
Chicago Futures:
| Live Cattle: |
June |
down |
20 |
at |
11615 |
| |
Aug |
down |
37 |
at |
11665 |
| Feeders: |
Aug |
down |
17 |
at |
15602 |
| |
Sept |
down |
7 |
at |
15742 |
Cattle Comment
Cattle futures were under pressure from economic uncertainty ahead of the weekend’s elections in Greece. 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 60.00 to 62.00
| Chicago Futures: |
July |
down |
150 |
at |
9302 |
| |
Aug |
down |
180 |
at |
9120 |
Hogs Comment
Hog futures were also lower. Economic uncertainty and pre-weekend profit taking resulted in lower prices today. Tight hog supplies will help provide support, however.
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 |
109.50 |
| Toms: |
16-24 lbs |
106.00 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are steady to weak. Offerings are moderate to heavy for currents trade needs. 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 to heavy weights.