Grain & Soybean Date: July 27, 2012
Soybeans
Local Elevators:
(July) EAST AR: 1643 to 1679
(NC) Summ. 1580 to 1611
River Elevators:
(July) MISS: 1617 to 1689 ; AR & White 1652
to - - -
(NC) Summ. 1596 to 1623
Ark. Processor Bids: (July) 1669 to 1704
(NC) 1606 to 1607
Memphis:
(July) 1689 1/4 to 1717 1/4 (NC)
1615 3/4 to 1619 3/4
Riceland Foods:
(July) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
Aug |
up |
28 1/2 |
at |
1684 1/4 |
| |
Sept |
up |
31 1/4 |
at |
1627 3/4 |
| |
Nov |
up |
34 1/4 |
at |
1601 3/4 |
| |
Jan |
up |
36 1/4 |
at |
1591 1/4 |
| |
March |
up |
39 |
at |
1479 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans reversed closed higher, marking the 4th day of up, down movement this week. Yield estimates by carious marketing firms continue to ratchet down. Informa lowered their estimates to 134 for corn and 38.5 for beans. Another groups estimates were significantly lower, putting corn at 122 and beans at 35.7 bushels per acre. Weather remains a major factor with this weeks showers not offering much relief. November futures are consolidating below the recent $16.91 high. At this point the market hasn’t confirmed a top and the gap objective of $17.25 remains open.
Wheat
Cash bid for July at Memphis 828 to 853;
| Bids to farmers at Local Elevators |
828-868; |
| River Elevators |
819-858; |
| Chicago Futures: |
Sept |
up |
14 |
at |
898 |
| |
Dec |
up |
14 |
at |
911 1/4 |
| |
March |
up |
12 3/4 |
at |
913 |
| |
May |
up |
13 1/4 |
at |
895 3/4 |
| |
July |
up |
19 1/2 |
at |
830 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for July at Memphis 1202 to 1238;
| Bids to farmers at River Elevators |
1202-1229; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
July at Memphis
778 1/2 to 783 1/2; |
| |
New Crop at Memphis
768 1/2 to 782 1/2; |
| Bids to farmers at River Elevators |
757 to 768 |
| Chicago Futures: |
Sept |
up |
17 1/4 |
at |
798 1/2 |
| |
Dec |
up |
17 |
at |
793 1/4 |
| |
March |
up |
14 1/4 |
at |
787 1/2 |
| |
May |
up |
12 3/4 |
at |
781 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures were higher today, along with the rest of the grains and oilseeds. It has been a wild week with prices reversing direction about every day. The market looks toppy. September topped out at $9.47 and will need to break through that resistance to suggest further gains are possible.
Corn closed on a firm note with December hovering just below the recent high of $8. There are indications that several U.S. companies have or will import corn from Brazil. Smithfield executives are calling for EPA to drop its Ethanol mandate. Yield estimates continue to decline as does production. The consolidation action in corn does not appear to be topping action and the $8.55 gap objective remains viable.
Cotton & Rice Date: July 27, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 5 at
6748 |
| |
Greenwood up
5 at 6748 |
| New York Futures: |
Oct |
up |
5 |
at |
7073 |
| |
Dec |
up |
6 |
at |
7145 |
| | March |
down |
2 |
at |
7215 |
| | May |
down |
3 |
at |
7285 |
| | July |
down |
4 |
at |
7365 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed narrowly mixed as early gains were pared late in the session. December closed steady but was nearly 150 points off the days high. Trading was within the narrow range that has contained the market for over a month.
Rice
| Long Grain Cash Bid for |
July |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
Sept |
up |
22 |
at |
1560 |
| | Nov |
up |
22 |
at |
1587 |
| | Jan |
up |
22 |
at |
1614 |
| | March |
up |
22 |
at |
1639 1/2 |
| | May |
up |
22 |
at |
1658 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice ended the week on a firm note, while maintaining a sideways trading pattern. September futures are in an overall shallow uptrend with resistance around $15.70, and then at $16.20. Building demand for U.S. rice in the export market will be a key in upside potential.
Cattle & Hogs Date: July 27, 2012
Cattle
As reported by Federal-State Market News, receipts were 9850 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold uneven, mostly $1 to $3 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
151.75 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
134.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
128.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
141.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
129.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
126.50 |
to |
- - - |
Slaughter Cows, Boners 70.00 to 79.00
Light Weight 58.00 to 65.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 86.00
to 96.50
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
136.00 |
to |
158.00 |
| |
500 |
to |
550 lbs. |
120.00 |
to |
155.00 |
| Heifers |
450 |
to |
500 lbs. |
121.00 |
to |
145.00 |
| |
500 |
to |
550 lbs. |
115.00 |
to |
139.00 |
Chicago Futures:
| Live Cattle: |
Aug |
up |
142 |
at |
11960 |
| |
Oct |
up |
210 |
at |
12527 |
| Feeders: |
Aug |
up |
175 |
at |
13775 |
| |
Sept |
up |
157 |
at |
14040 |
Cattle Comment
Cattle futures ended higher. The positive GDP report, showing second-quarter growth at 1.5% provided support. The numbers weren’t great, certainly, but were better than expected. 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 |
down |
60 |
at |
9520 |
| |
Oct |
down |
10 |
at |
8132 |
Hogs Comment
Hog futures were mostly higher today. Stronger wholesale pork prices and firm cash hog markets were supportive today. The positive GDP report was also supportive for prices. However, large cold stocks and the potential for herd liquidation due to high corn prices continue to loom over the market.
Poultry Date: July 27, 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 |
107.50 |
| Toms: |
16-24 lbs |
106.34 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryers are weak. Offerings of all sizes are moderate to heavy for limited trade needs. Demand into all channels is light to moderate entering the weekend. Market activity is mostly slow. In production areas, live supplies are moderate; weights are mixed, but noted as mostly desirable.