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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:

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  at  732 
  Sept up 4 1/4  at  751 1/4 
  Dec up  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:

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

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.



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  at  1474 
 Sept down  at  1501 
 Nov down  at  1527 
 Jan down  at  1553 
 March down  at  1578 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
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.



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.



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.