Grain & Soybean Date: July 02, 2012
Soybeans
Local Elevators:
(July) EAST AR: 1491 to 1520
(NC) Summ. 1422 to 1447
River Elevators:
(July) MISS: 1458 to 1557 ; AR & White 1497
to 1515
(NC) Summ. 1432 to 1459
Ark. Processor Bids: (July) 1516 to 1517
(NC) 1433 to 1442
Memphis:
(July) 1537 1/4 to 1549 1/4 (NC)
1458 to 1463
Riceland Foods:
(July) Stuttgart 1517 ; Pendleton
1519
(NC) Stuttgart 1442 ; Pendleton
1447
| Chicago Futures: |
July |
up |
19 1/2 |
at |
1532 1/4 |
| |
Aug |
up |
12 1/2 |
at |
1494 1/4 |
| |
Sept |
up |
12 1/4 |
at |
1462 1/2 |
| |
Nov |
up |
10 1/4 |
at |
1438 |
| |
Jan |
up |
11 |
at |
1437 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans rode dry, hot weather concerns to solid gains to start the week. Crop condition reports to be released later today are expected to show further deteriorations. Weaker U.S. manufacturing data was a negative factor and likely limited upside movement. Some rain fell in limited areas of the Midwest and long range forecasts suggest cooler wetter weather is probable next week. The question is how much damage will be done by then. Technically, November moved to a new high above 14.50 in the overnight trade. However a good portion of those gains were retraced later in the session. A close above $14.55 would signal a move toward $15.
Wheat
Cash bid for July at Memphis 744 1/2 to 747 1/2;
| Bids to farmers at Local Elevators |
715-735; |
| River Elevators |
755-758; |
| Chicago Futures: |
July |
up |
15 1/2 |
at |
754 1/2 |
| |
Sept |
up |
15 1/4 |
at |
772 1/2 |
| |
Dec |
up |
14 |
at |
790 3/4 |
| |
March |
up |
13 |
at |
804 |
| |
May |
up |
8 3/4 |
at |
807 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for July at Memphis 1091 to - - -;
| Bids to farmers at River Elevators |
1032-1077; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
July at Memphis
700 1/2 to 712 1/4; |
| |
New Crop at Memphis
627 1/4 to 632 1/4; |
| Bids to farmers at River Elevators |
611 to 622 |
| Chicago Futures: |
July |
up |
20 |
at |
692 1/2 |
| |
Sept |
up |
23 3/4 |
at |
652 1/4 |
| |
Dec |
up |
21 |
at |
655 3/4 |
| |
March |
up |
20 1/4 |
at |
664 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
September wheat futures are in position to move toward the next major resistance which is near $8.50, but would need to clear minor resistance around $7.90 first. Declining world crop estimates are positive for wheat. The International Grains Council pared to 665 mmt, well below the June USDA projection of 672 mmt. Much of the decline in the Black Sea area were Russia’s crop estimate fell 6 mmt and the Ukraine which fell 1 mmt. World ending stocks are projected to be at a 4 year low of 182 mmt.
Corn continued to be the leader of the grain complex closing with gains of 20 cents or better in all the forward contracts. With nearly half the corn acreage in or approaching pollination high temperatures are a major concern. Yields could be severely impacted, and many crop analysts have lower expectations with some many in the 150 to 155 bushels per acre range. That would likely move the projected ending stocks toward 1 billion bushels as opposed to the current projection of 1.88 billion bushels. December futures topped at less than a dime under the contract high of $6.73 in overnight trade.
Cotton & Rice Date: July 02, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 73 at
7055 |
| |
Greenwood up
73 at 7055 |
| New York Futures: |
July |
down |
1 |
at |
7215 |
| |
Oct |
up |
73 |
at |
7230 |
| | Dec |
up |
69 |
at |
7202 |
| | March |
up |
68 |
at |
7319 |
| | May |
up |
67 |
at |
7422 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton firmed again today with December closing just above 72 cents. Smaller plantings were seen with just 12.64 million acres in the U.S. Drought conditions are still prevalent in Texas and a large abandonment is anticipated again this year.
Rice
| Long Grain Cash Bid for |
July |
- - - |
to |
- - - |
| |
NC |
1358/cwt |
to |
- - - |
| Chicago Futures: |
July |
up |
20 |
at |
1439 |
| | Sept |
up |
19 |
at |
1468 |
| | Nov |
up |
18 1/2 |
at |
1494 |
| | Jan |
up |
19 1/2 |
at |
1521 |
| | March |
up |
18 |
at |
1545 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures finally reversed and closed higher after declining the 3 previous sessions. An extra 100,000 acres of rice sent the market in a downward spiral on Friday. Arkansas planted 80,000 acres more long grain than was indicated in March intentions and that was a major factor in the decline. Upside potential appears limited in the near term with September showing resistance around $15.25.
Cattle & Hogs Date: July 02, 2012
Cattle
As reported by Federal-State Market News, receipts were 4045 head
at sales in Ash Flat & Springdale.
Compared with last week, feeder steers sold mostly $5 to $15 lower, instances $20 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
169.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
151.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
142.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
161.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
133.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
137.00 |
to |
- - - |
Slaughter Cows, Boners 72.00 to 80.00
Light Weight 62.00 to 70.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 90.00
to 97.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
163.50 |
to |
170.50 |
| |
500 |
to |
600 lbs. |
148.00 |
to |
155.00 |
| Heifers |
400 |
to |
500 lbs. |
140.00 |
to |
153.00 |
| |
500 |
to |
600 lbs. |
140.00 |
to |
150.50 |
Chicago Futures:
| Live Cattle: |
Aug |
down |
117 |
at |
11927 |
| |
Oct |
down |
105 |
at |
12335 |
| Feeders: |
Aug |
down |
180 |
at |
14965 |
| |
Sept |
down |
167 |
at |
15272 |
Cattle Comment
Feeder cattle futures were sharply lower as the rising corn values weigh on the market. Dry, hot conditions continue to impact potential corn yield which will be a factor in the feeder market as we move forward. Seasonal weakness in wholesale beef also pressured cattle prices.
Hogs
Peoria: were steady
at - - - to 63.00
| Chicago Futures: |
July |
up |
27 |
at |
9690 |
| |
Aug |
up |
20 |
at |
9497 |
Hogs Comment
Hogs were mixed following what was termed a mildly favorable quarterly pig crop report. The breeding herd was up just 1% from a year ago, while farrowing intentions were down about 1% in coming months. Surveys for this report were made in early June before the corn market exploded higher and actual plans may have changed.
Poultry Date: July 02, 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 steady. Offerings are moderate for current trade needs. Demand entering the holiday week is moderate with trading usually limited to regular commitments. Market activity is moderate. In production areas, live supplies are moderate at mostly desirable weights.