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Daily Market Report Archive

Grain & Soybean Date: July 26, 2012

Soybeans

Local Elevators:
(July) EAST AR:  1615 to 1666
(NC) Summ. 1546 to 1577
River Elevators:
(July) MISS: 1583 to 1689 ; AR & White 1624 to 1677
(NC) Summ. 1562 to 1589
Ark. Processor Bids: (July) 1641 to 1676  (NC) 1572 to 1573
Memphis:  (July) 1660 3/4 to 1695 3/4 (NC)  1581 1/2 to 1584 1/2
Riceland Foods:  (July) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Aug down 38 1/2 at  1655 3/4
  Sept  down  44  at  1596 1/2
  Nov down 48  at  1567 1/2
  Jan down 43 1/2  at  1555
  March down 34 1/4  at  1440
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans reversed yesterday’s gains despite fairly good economic news and positive outside markets. At this point the market is very nervous and quick to react to any factor. Cooler temperatures are forecast for much of the Midwest and overnight showers in some areas are expected to offer temporary relief. November worked back toward trendline support. Yesterday’s low of $15.36 is key support, while the early week contract high of $16.91 is key resistance. A close to the outside of this trading range would indicate further movement in the direction of the breakout.

Wheat
Cash bid for July at Memphis  814 to 839;

Bids to farmers at Local Elevators 824-854;
River Elevators 805-844;

Chicago Futures: Sept down  19 1/4  at  884 
  Dec down 17 3/4  at  897 1/4 
  March down  9 3/4  at  900 1/4 
  May down  at  882 1/2 
  July down  at  810 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for July at Memphis  1208 to 1234;

Bids to farmers at River Elevators 1181-1208;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for July at Memphis   751 1/4 to 766 1/4;
  New Crop at Memphis   751 1/4 to 766 1/4;
Bids to farmers at River Elevators  739 to 750

Chicago Futures: Sept down  13 1/4  at  781 1/4 
  Dec down  11 3/4  at  776 1/4 
  March down  9 1/4  at  773 1/4 
  May down  8 1/4  at  768 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Volatility continued in the wheat pit today with futures posting sharp losses in nearby contracts. The market looks toppy. Rains this week mostly were in areas that weren’t in such bad shape to start with, and did not turn out to be a drought-breaker.

Corn was lower today as pressure developed from Brazilian imports into the U.S. and declining ethanol use. December corn support is Tuesday’s low of $7.45, while $8 continues to offer stiff resistance to further gains.



Cotton & Rice  Date: July 26, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 158 at  6743
  Greenwood up  158 at 6743

New York Futures: Oct up  158  at  7068 
  Dec up  188  at  7139 
 March up  177  at  7217 
 May up  158  at  7288 
 July up  146  at  7369 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Good economic news gave cotton a boost and kept trade within the narrow range that has contained the market since late June. Increased cotton demand will depend on additional improvement in world economics. The U.S. crop has good potential in the mid-south and southeast, while Texas continues to have major problems with a fairly substantial acreage expected not to be harvested.

Rice

Long Grain Cash Bid for  July - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Sept down  18 1/2  at  1538 
 Nov down  18 1/2  at  1565 
 Jan down  19  at  1592 
 March down  18 1/2  at  1617 1/2 
 May down  18 1/2  at  1636 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was slightly lower as September futures consolidate around $15.50. This year’s Southern crop is rushing toward harvest. Water has been an issue in a few areas, and of course high temperatures could impact quality. Large world stocks will hang over the export market and the U.S. will have to find a way to be competitive as we move forward.



Cattle & Hogs  Date: July 26, 2012

Cattle
As reported by Federal-State Market News, receipts were 3057 head at sales in Charolotte, Ratcliff, and Green Forest.  Compared with last week, feeder steers under 400 lbs steady to $5 higher, over 400 lbs steady to $10 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 155.00 to - - -
  500 to 550 lbs. 135.75 to - - -
  600 to 650 lbs. 127.25 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 144.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 125.75 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 128.00 to - - -

Slaughter Cows, Boners 67.00   to   74.00
Light Weight 52.00 to 61.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   85.00   to   94.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 450 lbs. 160.00 to 165.00
  500 to 600 lbs. 142.00 to 147.50
Heifers 400 to 450 lbs. 130.00 to 139.00
  500 to 550 lbs. 135.00 to 137.50

Chicago Futures:
Live Cattle: Aug up 22 at 11817
  Oct up 25 at 12317
Feeders: Aug up 132 at 13600
  Sept up 145 at 13882

Cattle Comment
Cattle futures ended mixed. Herd liquidation due to drought and higher corn prices weighed on live cattle. Weak wholesale beef and tight packer margins are likely to limit demand for cattle.

Hogs
Peoria: were     steady   at   55.00   to   57.00

Chicago Futures: Aug up 125 at 9580
  Oct up 122 at 8142

Hogs Comment
Hog futures posted gains today. Packer buying for next week’s kill supported prices today. Upside potential appears to be limit because of big cold storage stocks, however.



Poultry  Date: July 26, 2012

Eggs

New York:  Ex. Lg. 154-158; Lg. 152-156; Med. 113-117;
Chicago:  Ex. Lg. 125-133; Lg. 123-131; Med. 94-102;

National Turkeys
Hens: 8-16 lbs 106.50
Toms: 16-24 lbs 107.00
 

Delmarva Broilers
U.S. Grade A
Prices for whole broiler/fryers are steady to weak. Offerings are moderate to instances heavy for trade needs. Demand is light to moderate approaching the weekend. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.