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 |
3 |
at |
1426 |
| |
Sept |
up |
2 3/4 |
at |
1394 1/4 |
| |
Nov |
up |
4 1/4 |
at |
1375 1/2 |
| |
Jan |
up |
4 |
at |
1374 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
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 |
9 |
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: |
0¢ |
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: |
0¢ |
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 |
1 |
at |
551 1/4 |
| |
Dec |
up |
4 |
at |
554 |
| |
March |
up |
4 |
at |
565 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
9 |
at |
1548 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
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 APrices 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.