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Daily Market Report Archive

Grain & Soybean Date: June 22, 2012

Soybeans

Local Elevators:
(June) EAST AR:  1402 to 1431
(NC) Summ. 1360 to 1385
River Elevators:
(June) MISS: 1439 to 1468 ; AR & White 1411 to 1429
(NC) Summ. 1370 to 1397
Ark. Processor Bids: (June) 1428 to 1446  (NC) 1380 to 1381
Memphis:  (June) 1448 1/2 to 1469 1/2 (NC)  1395 1/2 to 1397 1/2
Riceland Foods:  (June) Stuttgart 1428 ; Pendleton 1430 
 (NC) Stuttgart 1380 ; Pendleton 1385 

Chicago Futures: July up 4 at  1442 1/2
  Aug  up  at  1426
  Sept up 2 3/4  at  1394 1/4
  Nov up 4 1/4  at  1375 1/2
  Jan up at  1374
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans ended the session mixed as profit taking reduced early weather concern gains. With dry, hot conditions still playing wide areas of the Midwest the market moved higher overnight and into today’s early trading. Traders were reluctant to bold positions over the weekend. At its peak November was less than a dime under the $14 contract high, which remains key resistance. The market continues to give producers good pricing opportunities.

Wheat
Cash bid for June at Memphis  663 1/4 to 668 1/4;

Bids to farmers at Local Elevators 633-653;
River Elevators 634-668;

Chicago Futures: July up  11 1/2  at  673 1/4 
  Sept up at  687 1/2 
  Dec up  6 1/2  at  706 3/4 
  March up  5 1/2  at  723 3/4 
  May up  4 3/4  at  728 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  1030 to - - -;

Bids to farmers at River Elevators 948-975;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for June at Memphis   602 to 621;
  New Crop at Memphis   511 1/4 to 531 1/4;
Bids to farmers at River Elevators  608 to 621

Chicago Futures: July up  4 1/2  at  591 
  Sept up  at  551 1/4 
  Dec up  at  554 
  March up  at  565 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat posted solid gains following corn. Weather for the wheat crop is generally favorable in the U.S., but dry weather in the Canadian plains and parts of Europe and Russia are providing support. Smaller crops in those areas mean less competition on the world market. That should give the U.S. a good opportunity, at least for a while.

Corn backed off early gains but still closed higher for the day. December ended the week above $5.50 and could move higher depending on weather and Thursday’s reports. Stocks could increase, but there is a strong chance that planted acres could change as well. A lot of things “hanging” that could impact the market dramatically. Smaller 2012 production from weather reduced yields or acres could boost the market. While any sizeable increase in projected ending stocks would be negative.



Cotton & Rice  Date: June 22, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 205 at  7080
  Greenwood up  205 at 7080

New York Futures: July down  400  at  7417 
  Oct up  205  at  6930 
 Dec up  141  at  6912 
 March up  149  at  7057 
 May up  134  at  7158 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton closed mixed with the July contract down 4 cents as the spread between that and December unwinds. Just a few days ago July was trading at a 14 cents premium to December. Today the premium is less than 5 cents. Contracts from October forward firmed, but upside potential will be limited by world economic conditions and large world stocks.

Rice

Long Grain Cash Bid for  June 1368/cwt  to  1397/cwt
  NC 1343/cwt  to  1343/cwt

Chicago Futures: July up  13 1/2  at  1447 
 Sept up  14  at  1472 1/2 
 Nov up  14  at  1498 1/2 
 Jan up  12  at  1523 1/2 
 March up  at  1548 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were slightly higher as September is consolidating just below Wednesday’s rebound high. There was a lack of fresh fundamental news to give the market direction. Big world stocks will keep the export market in turmoil, but at some point a smaller U.S. crop and tighter long grain stocks should come into play. Likely that will be much later in the year.



Cattle & Hogs  Date: June 22, 2012

Cattle
As reported by Federal-State Market News, receipts were 14005 head at sales in Arkansas this week.  Compared with last week, feeder steers under 500lbs sold mostly steady, over 500 lbs weak to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 178.50 to - - -
  500 to 550 lbs. 158.50 to - - -
  600 to 650 lbs. 152.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 160.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 149.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 144.00 to - - -

Slaughter Cows, Boners 77.00   to   85.00
Light Weight 60.00 to 68.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   93.00   to   103.00
Midwest Steers   were   at   116.00   to   - - -
Panhandle Steers   were   at   116.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 161.00 to 189.00
  500 to 550 lbs. 158.00 to 184.00
Heifers 450 to 500 lbs. 149.00 to 177.00
  500 to 550 lbs. 145.00 to 162.00

Chicago Futures:
Live Cattle: June up 90 at 11690
  Aug up 35 at 11690
Feeders: Aug up 15 at 15280
  Sept up 12 at 15490

Cattle Comment
Cattle futures were higher across the board as traders evened positions ahead of this afternoon’s cattle on feed report. The market is looking for May placement numbers to be large because of quickly deteriorating pasture conditions in much of the Plains area.

Hogs
Peoria: were     steady   at   61.50   to   63.50

Chicago Futures: July down 67 at 9492
  Aug down 75 at 9137

Hogs Comment
Hog futures were lower today on pre-weekend profit taking and general economic concerns. July found support near $94.



Poultry  Date: June 22, 2012

Eggs

New York:  Ex. Lg. 105-109; Lg. 103-107; Med. 77-81;
Chicago:  Ex. Lg. 96-104; Lg. 94-102; Med. 67-75;

National Turkeys
Hens: 8-16 lbs 107.50
Toms: 16-24 lbs 107.75
 

Delmarva Broilers
U.S. Grade A
Prices for whole broiler/fryers are steady to instances weak. Offerings are moderate to at times heavy. Demand is light to moderate entering the weekend. Market activity is mostly moderate. In production areas, live supplies are moderate at mostly desirable to heavy weights.