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Daily Market Report Archive

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:

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:

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:

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:

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  at  7073 
  Dec up  at  7145 
 March down  at  7215 
 May down  at  7285 
 July down  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 
medium grain rice is 
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 A
Prices 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.