Daily Market Report Archive

Grain & Soybean Date: June 27, 2012

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 1456 ; Pendleton 1458 
 (NC) Stuttgart 1416 ; Pendleton 1421 

Chicago Futures:	July	up	1/2	at	1471
	Aug	up	1/2	at	1456
	Sept	up	1/4	at	1426
	Nov	down	1 1/4	at	1412
	Jan	down	1 1/4	at	1411
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans closed narrowly mixed after a late selloff retraced early gains. The market appears to have their eyes only on the weather. However, there are questions about what Friday’s report will reveal and that may quite markets tomorrow. November futures traded to another new high near $14.40 before giving back the gains. Upside potential is open ended, if current conditions prevail for a while longer.

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

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

Chicago Futures:	July	up	3	at	732
	Sept	up	4 1/4	at	751 1/4
	Dec	up	6	at	772 1/4
	March	up	4 3/4	at	786
	May	up	7 1/2	at	791 3/4
	Today's Arkansas LDP rate for wheat is:				0¢

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

Bids to farmers at River Elevators	- - -;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

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

Chicago Futures:	July	up	3 1/2	at	649 1/2
	Sept	up	8	at	627 1/2
	Dec	up	9	at	633
	March	up	8 1/4	at	641 3/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat rode the crest of the corn market gains to a positive close. That move was supported by a smaller Canadian crop estimate and growing concern about the European crop. Early reports from Russia indicate yields are barely half of what they were last year. Wheat futures have resistance about 25 cents above today’s high.

Corn made good gains for the day but closed well below the day’s highs. Yield projections are on a quick slide lower with some estimates down to 150 bushels per acre, or a 10% decline from the official USDA number of 166 bushels per acre. There aren’t many traders looking at the demand side, but ethanol use has slipped for the second week in a row. December futures topped $6.50 before retracing over 20 cents of those gains. The contract high of $6.73 could be tested soon.

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Cotton & Rice  Date: June 27, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 54 at  6731
	Greenwood down  54 at 6731

New York Futures:	July	down	30	at	6801
	Oct	down	54	at	6781
	Dec	down	24	at	6796
	March	down	39	at	6922
	May	down	61	at	7027
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was lower again today and appears to be clinging to support between 64 and 68 cents. Neither world economic conditions nor big world stocks give the market much upside hope. World stocks are expected to grow to over 74 million bales.

Rice

Long Grain Cash Bid for	June	1384/cwt	to	1390/cwt
	NC	1371/cwt	to	1376/cwt

Chicago Futures:	July	down	3	at	1474
	Sept	down	2	at	1501
	Nov	down	2	at	1527
	Jan	down	2	at	1553
	March	down	2	at	1578 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures were trimmed by late selling, although the market was never in high gear. September futures essentially completed a 62% retracement of the market decline with yesterday’s move. Further gains could come, if the dry hot conditions continue to fire the corn market, rice doesn’t have very strong fundamental support. Tightening U.S. stocks are being offset by large world stocks, particularly in Thailand.

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Cattle & Hogs  Date: June 27, 2012

Cattle
As reported by Federal-State Market News, receipts were 1932 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly $10 to $15 lower .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	161.00	to	- - -
	500	to	550 lbs.	148.50	to	- - -
	600	to	650 lbs.	143.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	140.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	140.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	132.00	to	- - -

Slaughter Cows, Boners 72.00   to   79.00
Light Weight 60.00 to 65.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   94.00   to   104.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

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

Chicago Futures:

Live Cattle:	June	up	115	at	11640
	Aug	up	177	at	11725
Feeders:	Aug	up	117	at	14885
	Sept	up	165	at	15190

Cattle Comment
Cattle futures were higher, supported by renewed strength in wholesale beef. This may not last long as softer demand is expected over the next several weeks. That will likely limit packer interest.

Hogs
Peoria: were     steady   at   63.00   to   65.00

Chicago Futures:	July	up	192	at	9557
	Aug	up	270	at	9170

Hogs Comment
Hog futures were sharply higher on short covering which was spurred by the bug discount to cash. Hot conditions across the Midwest also were supportive. This could limit runs and bring tight supplies near term. Fridays pig crop report is expected to show limited expansion.

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Poultry  Date: June 27, 2012

Eggs

New York:	Ex. Lg. - - -; Lg. - - -; Med. - - -;
Chicago:	Ex. Lg. - - -; Lg. - - -; Med. - - -;

National Turkeys

Hens:	8-16 lbs	- - -
Toms:	16-24 lbs	- - -

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. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable to heavy weights.