Grain & Soybean Date: July 06, 2012
Soybeans
Local Elevators:
(July) EAST AR: 1526 to 1597
(NC) Summ. 1489 to 1514
River Elevators:
(July) MISS: 1525 to 1600 ; AR & White 1535
to 1588
(NC) Summ. 1499 to 1528
Ark. Processor Bids: (July) 1552 to 1587
(NC) 1509 to 1510
Memphis:
(July) 1599 1/4 to 1632 1/4 (NC)
1525 3/4 to 1527 3/4
Riceland Foods:
(July) Stuttgart 1552 ; Pendleton
1554
(NC) Stuttgart 1510 ; Pendleton
1515
| Chicago Futures: |
July |
down |
6 3/4 |
at |
1619 3/4 |
| |
Aug |
down |
15 3/4 |
at |
1567 1/4 |
| |
Sept |
down |
19 1/2 |
at |
1532 |
| |
Nov |
down |
20 3/4 |
at |
1505 3/4 |
| |
Jan |
down |
21 1/2 |
at |
1501 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were a little lower, as we head into the weekend. Forecasts for lower temperatures and possible rainfall gave the market an opportunity to retrace a portion of recent gains. Negative outside markets, including a stronger dollar added downside pressure. What actually happens this weekend, weather wise, will determine whether the market rallies, or continues to work lower. A November close below yesterday’s low of $14.93 would suggest further declines, while the ability to hold above $15 and close above yesterday’s high of $15.29 would indicate further gains.
Wheat
Cash bid for July at Memphis 781 1/4 to 793 1/4;
| Bids to farmers at Local Elevators |
764-786; |
| River Elevators |
747-793; |
| Chicago Futures: |
July |
down |
31 1/4 |
at |
791 1/4 |
| |
Sept |
down |
31 3/4 |
at |
806 1/4 |
| |
Dec |
down |
25 1/4 |
at |
821 3/4 |
| |
March |
down |
22 3/4 |
at |
832 3/4 |
| |
May |
down |
23 1/2 |
at |
829 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for July at Memphis 1148 to - - -;
| Bids to farmers at River Elevators |
1098-1134; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
July at Memphis
711 1/4 to 725 1/4; |
| |
New Crop at Memphis
670 1/4 to 675 1/4; |
| Bids to farmers at River Elevators |
654 to 665 |
| Chicago Futures: |
July |
down |
24 3/4 |
at |
743 1/4 |
| |
Sept |
down |
13 1/2 |
at |
695 1/4 |
| |
Dec |
down |
15 1/2 |
at |
693 |
| |
March |
down |
15 3/4 |
at |
700 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures reversed direction and gave back most of yesterday’s big gains. Corn futures also posted big losses, and wheat has been sticking closely with corn for weeks. Smaller world production estimates and the potential for feed demand were supportive as well. Both the September and the July 2013 contracts failed to significantly challenge resistance at $8.50, and resistance at that level remains intact for now.
Corn closed lower for the day. Trading left an inside day on the on the charts and while December closed below $7 it help above yesterday’s low of $6.85 ½. A close above $7.13 would signal an extension of the current upturn. Like beans, weather and outside markets keyed the selloff.
Cotton & Rice Date: July 06, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 99 at
6728 |
| |
Greenwood down
99 at 6728 |
| New York Futures: |
July |
down |
14 |
at |
7078 |
| |
Oct |
down |
24 |
at |
7053 |
| | Dec |
up |
4 |
at |
7062 |
| | March |
down |
1 |
at |
7190 |
| | May |
up |
2 |
at |
7299 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed narrowly mixed despite negative outside markets. A potential U.S. crop of 17 million bales or more is too much considering the prospect of world stocks reaching 74 to 75 million bales. Texas is experiencing another dry year but should harvest a little more than last year. December futures are presently in a trading range of 10 cents, between 65 cents and 75 cents.
Rice
| Long Grain Cash Bid for |
July |
- - - |
to |
- - - |
| |
NC |
1396/cwt |
to |
- - - |
| Chicago Futures: |
July |
down |
9 1/2 |
at |
1476 1/2 |
| | Sept |
down |
9 1/2 |
at |
1505 1/2 |
| | Nov |
down |
9 1/2 |
at |
1533 |
| | Jan |
down |
9 1/2 |
at |
1561 |
| | March |
down |
9 1/2 |
at |
1587 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was under light selling pressure as the market follow beans, corn, and wheat lower. Last week’s reports suggest smaller stocks but offer the potential for a production number that is 4 to 5% above the June number. High temperatures may reduce that possibility. While tight U.S. stocks may offer additional upside potential, U.S. milled rice is already well above what is considered the world market value. Values in Vietnam and India are generally quoted around or just over $400 per M.T. Thailand’s intervention program has stocked away huge quantities of rice which is also priced above the market and exports are projected to be 65% or less than in 2011.
Cattle & Hogs Date: July 06, 2012
Cattle
As reported by Federal-State Market News, receipts were 5005 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold weak to $5 lower, instances $5 to $10 lower .
| Steers: |
| Medium & Large Frame 1 |
450 |
to |
500 lbs. |
152.00 |
to |
165.00 |
|
| |
500 |
to |
550 lbs. |
145.00 |
to |
157.00 |
|
| |
550 |
to |
600 lbs. |
140.00 |
to |
153.00 |
|
| Medium & Large Frame 2 |
450 |
to |
500 lbs. |
140.00 |
to |
157.00 |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
127.00 |
to |
143.00 |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
127.00 |
to |
147.50 |
Slaughter Cows, Boners - - - to - - -
Light Weight - - - to - - -
Bulls, Yield Grade - - -
- - - to - - - lbs. - - -
to - - -
Midwest Steers were at 117.00
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: |
Aug |
up |
5 |
at |
11920 |
| |
Oct |
up |
10 |
at |
12365 |
| Feeders: |
Aug |
up |
57 |
at |
14652 |
| |
Sept |
up |
67 |
at |
15005 |
Cattle Comment
Cattle futures posted gains. Losses in corn were a positive for feeders. October live cattle have resistance just below $124.50 and will need to move above that resistance to suggest another leg up is possible.
Hogs
Peoria: were steady
at 62.00 to - - -
| Chicago Futures: |
July |
up |
40 |
at |
9622 |
| |
Aug |
up |
42 |
at |
9330 |
Hogs Comment
Hog futures were also higher. Deferred contracts have been supported in recent days by concerns high corn values will keep producers from expanding production. Worsening packer margins are keeping a lid on nearby contracts.
Poultry Date: July 06, 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 |
108.00 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are steady. Offerings are moderate for current trade needs. Demand entering the weekend is moderate. Market activity is slow to mostly moderate. In production areas, live supplies are moderate; weights are to light.