Grain & Soybean Date: July 19, 2012
Soybeans
Local Elevators:
(July) EAST AR: 1692 to 1763
(NC) Summ. 1636 to 1661
River Elevators:
(July) MISS: 1672 to 1766 ; AR & White 1701
to 1754
(NC) Summ. 1646 to 1675
Ark. Processor Bids: (July) 1718 to 1753
(NC) 1656 to 1657
Memphis:
(July) 1737 3/4 to 1783 3/4 (NC)
1671 1/4 to 1684 1/4
Riceland Foods:
(July) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
Aug |
up |
50 1/4 |
at |
1733 3/4 |
| |
Sept |
up |
43 1/4 |
at |
1691 1/4 |
| |
Nov |
up |
32 1/4 |
at |
1652 1/4 |
| |
Jan |
up |
22 3/4 |
at |
1634 |
| |
March |
down |
18 1/4 |
at |
1526 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans exploded to a record level in early trading this morning on the electronic platform. August beans hit $17.49 before retracing a portion of the gains. Fundamental news is basically unchanged with weather and resultant crop conditions during the market. Outside markets were supportive with crude oil up over $2.50 and the dollar weaker. Distant futures remain under pressure with most 2013 contracts declining 10 cents or more.
Wheat
Cash bid for July at Memphis 865 to 890;
| Bids to farmers at Local Elevators |
875-905; |
| River Elevators |
866-910; |
| Chicago Futures: |
Sept |
up |
31 3/4 |
at |
935 |
| |
Dec |
up |
22 |
at |
934 1/2 |
| |
March |
down |
3 |
at |
913 1/2 |
| |
May |
down |
17 |
at |
880 |
| |
July |
down |
20 1/4 |
at |
816 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for July at Memphis 1212 to 1238;
| Bids to farmers at River Elevators |
1184-1211; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
July at Memphis
797 3/4 to 802 3/4; |
| |
New Crop at Memphis
777 3/4 to 784 3/4; |
| Bids to farmers at River Elevators |
766 to 777 |
| Chicago Futures: |
Sept |
up |
12 3/4 |
at |
807 3/4 |
| |
Dec |
down |
5 3/4 |
at |
778 1/2 |
| |
March |
down |
12 3/4 |
at |
770 1/2 |
| |
May |
down |
12 3/4 |
at |
767 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Nearby wheat futures continued to rally today while deferred contracts posted losses. The market continues to follow corn futures closely. The drought in the Black Sea region and in the U.S. is beginning to spark discussion about food security. Export bans could result so countries can have enough to feed their own people. September futures have moved above previous resistance at $9, with the next level of resistance in the $9.50 area.
Corn futures also traded mixed with old crop September moving to a new record high of $8.16 ¾ early this morning. A weak export report added pressure as higher price levels appear to be reducing demand. Ethanol production has slipped as profit margins slipped to the negative side. New crop December was unable to top $8 as the market turned at $7.99. 2013 crops contracts continue under pressure with big reversals in both the September and December contracts.
Cotton & Rice Date: July 19, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 69 at
6854 |
| |
Greenwood up
69 at 6854 |
| New York Futures: |
Oct |
up |
69 |
at |
7179 |
| |
Dec |
up |
70 |
at |
7263 |
| | March |
up |
47 |
at |
7333 |
| | May |
up |
43 |
at |
7405 |
| | July |
up |
29 |
at |
7492 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton managed a second consecutive upward move with December again trading around 73 cents. However, concerns about the U.S. and world economics continue to weigh on the market. Signs of improvement bring funds back to the market, while the market loses momentum on reports of weak economic activity. December continues to trade within a 10 cents range that features resistance around 75 cents. The market had consolidated in a tight 3 cents range the past 3 weeks.
Rice
| Long Grain Cash Bid for |
July |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
Sept |
down |
4 |
at |
1549 1/2 |
| | Nov |
down |
4 1/2 |
at |
1575 1/2 |
| | Jan |
down |
4 1/2 |
at |
1603 |
| | March |
down |
3 1/2 |
at |
1629 |
| | May |
down |
4 |
at |
1648 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were slightly lower today, and didn’t exhibit much enthusiasm. A larger U.S. long grain crop will limit upside until there is increased demand. The U.S. export market is trading well below year ago levels. Much of that can be attributed to the inability to make specifications on tenders from Iraq. Milled exports continue to move to Haiti, while rough rice sales are also slow.
Cattle & Hogs Date: July 19, 2012
Cattle
As reported by Federal-State Market News, receipts were 2516 head
at sales in Charlotte, Ratcliff, & Green Forest.
Compared with last week, feeder steers sold mostly $3 to $8 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
154.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
141.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
138.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
146.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
124.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
124.00 |
to |
- - - |
Slaughter Cows, Boners 65.00 to 72.00
Light Weight 51.00 to 59.00
Bulls, Yield Grade 1-2
1000 to 2100 lbs. 84.00
to 94.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
144.00 |
to |
147.00 |
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| Heifers |
500 |
to |
550 lbs. |
132.00 |
to |
137.50 |
| |
600 |
to |
650 lbs. |
127.00 |
to |
132.50 |
Chicago Futures:
| Live Cattle: |
Aug |
up |
87 |
at |
11895 |
| |
Oct |
up |
157 |
at |
12440 |
| Feeders: |
Aug |
up |
190 |
at |
13910 |
| |
Sept |
up |
152 |
at |
14152 |
Cattle Comment
Cattle futures ended mostly higher. Oversold conditions and profit taking on short positions were supportive. Demand concerns and higher corn values have been pressuring the market, and plunging wholesale beef values don’t bode well for cattle in the near term. Futures’ current premium to cash prices is also a negative.
Hogs
Peoria: were steady
at 55.00 to 57.00
| Chicago Futures: |
Aug |
up |
42 |
at |
9305 |
| |
Oct |
down |
5 |
at |
8000 |
Hogs Comment
Hogs ended mixed. October was lower today after charting a bullish key reversal yesterday, but still ended near the top of yesterday’s trading range. The composite pork cutout value is showing signs that it may have bottomed for the time being.
Poultry Date: July 19, 2012
Eggs
| New York: |
Ex. Lg. 133-137; Lg. 131-135; Med. 102-106; |
| Chicago: |
Ex. Lg. 101-109; Lg. 99-107; Med. 69-77; |
National Turkeys
| Hens: |
8-16 lbs |
106.10 |
| Toms: |
16-24 lbs |
106.50 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers remain steady. Offerings of all sizes are moderate for trade needs. Retail and distributive demand is light to moderate for late week trading. Market activity is light to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.