Grain & Soybean Date: June 29, 2012
Soybeans
Local Elevators:
(June) EAST AR: 1472 to 1501
(NC) Summ. 1412 to 1437
River Elevators:
(June) MISS: 1509 to 1542 ; AR & White 1481
to 1491
(NC) Summ. 1422 to 1449
Ark. Processor Bids: (June) 1498 to 1516
(NC) 1432 to 1433
Memphis:
(June) 1517 3/4 to 1537 3/4 (NC)
1447 3/4 to 1452 3/4
Riceland Foods:
(June) Stuttgart 1498 ; Pendleton
1500
(NC) Stuttgart 1432 ; Pendleton
1437
| Chicago Futures: |
July |
up |
46 3/4 |
at |
1512 3/4 |
| |
Aug |
up |
35 1/2 |
at |
1481 3/4 |
| |
Sept |
up |
32 3/4 |
at |
1450 1/4 |
| |
Nov |
up |
24 1/4 |
at |
1427 3/4 |
| |
Jan |
up |
23 1/2 |
at |
1426 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans made strong gains as the market seemingly ignored bigger than stocks and a larger than projected planted acreage. U.S. plantings were placed at 76.1 million acres almost 2.2 million more than March intentions and 500,000 acres more than the average pre report estimate. Stocks at 667 million bushels were 27 million more than the average estimate and above the high end of those polled. However, the market never hesitated as there is growing concern about hot, dry conditions. Also, supportive was action in outside markets which were driven by a pleasing conclusion to European economic woes. The dollar plunged, while equities and crude oil soared, all positive for grains. November futures ended the day near recent highs around $14.50.
Wheat
Cash bid for June at Memphis 726 to 729;
| Bids to farmers at Local Elevators |
699-719; |
| River Elevators |
700-736; |
| Chicago Futures: |
July |
up |
13 |
at |
739 |
| |
Sept |
up |
11 1/4 |
at |
757 1/4 |
| |
Dec |
up |
10 |
at |
776 3/4 |
| |
March |
up |
9 3/4 |
at |
791 |
| |
May |
up |
9 3/4 |
at |
798 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for June at Memphis 1053 to - - -;
| Bids to farmers at River Elevators |
1095-1121; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
June at Memphis
680 1/2 to 687 1/2; |
| |
New Crop at Memphis
598 1/2 to 608 1/2; |
| Bids to farmers at River Elevators |
671 to 698 |
| Chicago Futures: |
July |
up |
20 1/2 |
at |
672 1/2 |
| |
Sept |
up |
2 1/4 |
at |
628 1/2 |
| |
Dec |
up |
2 1/2 |
at |
634 3/4 |
| |
March |
up |
2 1/2 |
at |
643 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
The wheat acreage report was friendly to prices. Spring wheat acreage was pegged at 12.0 million acres, up from the March intentions report estimate of 11.98 million, but below analysts’ expectations for 12.66 million. That is down 400,000 acres from last year. All wheat acreage was pegged at 56 million acres. Exports are slow-going this year, with the total now at 6.7 MMT, compared with 8.3 MMT this time last year.
Corn traded a wide range with tight stocks giving expiring July a big boost. Corn planted acreage was up 550,000 acres over March intentions. Stocks were lower than expectations and toward the low end of the expected range. Trading vacillated over a wide range before new crop trimmed gains and closed just slightly higher. December tested Wednesday’s highs before retracing gains. Weather conditions will likely push December toward the contract high of 6.73.
Cotton & Rice Date: June 29, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 181 at
6982 |
| |
Greenwood up
181 at 6982 |
| New York Futures: |
July |
up |
186 |
at |
7216 |
| |
Oct |
up |
206 |
at |
7157 |
| | Dec |
up |
182 |
at |
7133 |
| | March |
up |
181 |
at |
7251 |
| | May |
up |
186 |
at |
7355 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton moved higher with the USDA reported showing a planted acreage of 12.64 million acres, a decrease of 2.06 million acres from last year. Plantings were below March intentions and the average estimate prior to the report. Indications Europe has put a good proposal on the table had outside markets moving the right way. A sharply lower dollar and perceived improvement in world economics supported cotton. December appears to be building support around 68 cents, although there has been no clear indication the market has bottomed.
Rice
| Long Grain Cash Bid for |
June |
1384/cwt |
to |
- - - |
| |
NC |
1339/cwt |
to |
1376/cwt |
| Chicago Futures: |
July |
down |
37 1/2 |
at |
1419 |
| | Sept |
down |
41 1/2 |
at |
1449 |
| | Nov |
down |
40 1/2 |
at |
1475 1/2 |
| | Jan |
down |
41 |
at |
1501 1/2 |
| | March |
down |
41 1/2 |
at |
1527 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was hit hard by a planted acreage report that at 2.66 million acres a 100,000 acres over the March intentions. In Arkansas producers planted 1.14 million acres of long grain, a 200,000 acrea increase from 2011, and 80,000 higher than March intentions. Medium grain acreage fell to just 110,000 acres from 255,000 in 2011. Only Arkansas and Missouri increased 2012 plantings. Texas acreage declined 37%, while smaller declines were noted in California, Louisiana and Mississippi. The increased plantings sent futures sharply lower, as funds moved to the sidelines.
Cattle & Hogs Date: June 29, 2012
Cattle
As reported by Federal-State Market News, receipts were 17045 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold mostly $5 to $10 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
165.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
149.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
143.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
152.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
142.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
140.00 |
to |
- - - |
Slaughter Cows, Boners 76.00 to 84.00
Light Weight 60.00 to 69.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 91.00
to 105.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
156.00 |
to |
183.50 |
| |
500 |
to |
550 lbs. |
147.00 |
to |
177.00 |
| Heifers |
450 |
to |
500 lbs. |
134.00 |
to |
155.00 |
| |
500 |
to |
548 lbs. |
132.00 |
to |
152.00 |
Chicago Futures:
| Live Cattle: |
June |
up |
10 |
at |
11660 |
| |
Aug |
up |
112 |
at |
12045 |
| Feeders: |
Aug |
up |
100 |
at |
15145 |
| |
Sept |
up |
102 |
at |
15440 |
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 $.50 higher to $1.50 lower
at 62.50 to 63.00
| Chicago Futures: |
July |
down |
10 |
at |
9662 |
| |
Aug |
up |
87 |
at |
9477 |
Hogs Comment
Hog futures were mixed. Hot conditions across the Midwest are seen as supportive, as they could limit runs and bring tight supplies near term. Demand is expected to slow, however, after the Independence Day holiday.
Poultry Date: June 29, 2012
Eggs
| New York: |
Ex. Lg. 105-109; Lg. 103-107; Med. 77-81; |
| Chicago: |
Ex. Lg. 96-104; Lg. 94-102; Med. 69-77; |
National Turkeys
| Hens: |
8-16 lbs |
106.50 |
| Toms: |
16-24 lbs |
106.70 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are mostly steady. Offerings are moderate. Demand entering the weekend is moderate with trading usually limited to regular commitments. Market activity is moderate. In production areas, live supplies are moderate at mostly desirable weights.