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Daily Market Report Archive

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:

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  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:

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:

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:

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  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  at  1648 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
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 A
Prices 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.