Grain & Soybean Date: July 30, 2012
Soybeans
Local Elevators:
(July) EAST AR: 1685 to 1721
(NC) Summ. 1622 to 1653
River Elevators:
(July) MISS: 1659 to 1731 ; AR & White 1694
to - - -
(NC) Summ. 1638 to 1665
Ark. Processor Bids: (July) 1711 to 1746
(NC) 1648 to 1649
Memphis:
(July) 1730 3/4 to 1745 3/4 (NC)
1657 1/2 to 1661 1/2
Riceland Foods:
(July) Stuttgart 1711 ; Pendleton
1713
(NC) Stuttgart 1648 ; Pendleton
1653
| Chicago Futures: |
Aug |
up |
41 1/2 |
at |
1725 3/4 |
| |
Sept |
up |
39 1/2 |
at |
1667 1/4 |
| |
Nov |
up |
41 3/4 |
at |
1643 1/2 |
| |
Jan |
up |
41 1/4 |
at |
1632 1/2 |
| |
Mar |
up |
45 1/2 |
at |
1524 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans moved sharply higher in the overnight trade and maintained the gains until this afternoon’s close. November gapped higher but is still almost 50 cents below last week’s high of $16.91. With little rain projected over the next week to 10 days, the crop is expected to show further deterioration. Rain, at this point, would still help most of the Midwest soybeans. But, obviously, the sooner the better. Resistance at $16.91 and $17 could be penetrated this week.
Wheat
Cash bid for July at Memphis 844 1/2 to 869 1/2;
| Bids to farmers at Local Elevators |
845-885; |
| River Elevators |
836-875; |
| Chicago Futures: |
Sept |
up |
16 1/2 |
at |
914 1/2 |
| |
Dec |
up |
16 |
at |
927 1/4 |
| |
Mar |
up |
13 1/2 |
at |
926 1/2 |
| |
May |
up |
7 |
at |
902 3/4 |
| |
July '13 |
up |
1 1/2 |
at |
831 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for July at Memphis 1239 to 1275;
| Bids to farmers at River Elevators |
1239-1266; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
July at Memphis
790 to 802; |
| |
New Crop at Memphis
790 to 797; |
| Bids to farmers at River Elevators |
778 to 789 |
| Chicago Futures: |
Sept |
up |
21 1/2 |
at |
820 |
| |
Dec |
up |
20 3/4 |
at |
814 |
| |
Mar |
up |
19 |
at |
806 1/2 |
| |
May |
up |
16 1/4 |
at |
797 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures were higher today. This market is mostly following corn, as we have been saying for weeks now. Expectations for yield forecasts to be decreased pushed corn and soybeans higher today. September topped out last week at $9.47 and will need to break through that resistance to suggest further gains are possible.
December corn moved to a new contract high as it made a solid close above $8. The talk is centered on two factors now, yield and harvested acres. Most of the yield talk is in the 120 to 130 bushels per acre, while harvested acreage may be 10 million or more off planted acreage. Some corn will be abandoned and some will be cut for silage. In any respect, production is now approaching the 11 billion bushels number or perhaps lower. The move above $8 projects another leg higher, with the gap objective of $8.55 looming just above the current trade.
Cotton & Rice Date: July 30, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 11 at
6737 |
| |
Greenwood down
11 at 6737 |
| New York Futures: |
Oct |
down |
11 |
at |
7062 |
| |
Dec |
down |
32 |
at |
7113 |
| | Mar |
down |
27 |
at |
7188 |
| | May |
down |
21 |
at |
7264 |
| | July '13 |
down |
11 |
at |
7354 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton ended lower as the market cannot develop any consistent traction. The U.S. crop appears to be fairly good in much of the Mid-South and Southeast growing regions. However, the Texas crop is still struggling. World stocks of 72 million plus bales will limit gains for the time being.
Rice
| Long Grain Cash Bid for |
July |
- - - |
to |
- - - |
| |
NC |
1474/cwt |
to |
- - - |
| Chicago Futures: |
Sept |
up |
23 1/2 |
at |
1583 1/2 |
| | Nov |
up |
24 |
at |
1611 |
| | Jan |
up |
24 |
at |
1638 |
| | Mar |
up |
23 1/2 |
at |
1663 |
| | May |
up |
23 1/2 |
at |
1682 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures firmed as the market followed grains and bean higher. September closed at the highest level since mid-May. Resistance is located around $16.20. Above that, long term charts indicate resistance around $17.25 and then a dollar higher. However, a move to those levels will be difficult considering world stocks and demand for U.S. milled rice exports.
Cattle & Hogs Date: July 30, 2012
Cattle
As reported by Federal-State Market News, receipts were 2,543 head
at sales in Ash Flat and Springdale.
Compared with last week, feeder steers under 400 lbs. sold mostly steady to $2 higher, over 400 lbs. sold unevenly, near steady. Feeder heifers sold mostly steady to $4 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
150.75 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
139.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
125 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
50 lbs. |
140.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
126.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
123.50 |
to |
- - - |
Slaughter Cows, Boners 66 to 67
Light Weight 57 to 65
Bulls, Yield Grade 1
1000 to 2100 lbs. 88
to 98
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
144 |
to |
149 |
| |
500 |
to |
600 lbs. |
140 |
to |
150 |
| Heifers |
400 |
to |
500 lbs. |
134.50 |
to |
140 |
| |
500 |
to |
600 lbs. |
127 |
to |
136.50 |
Chicago Futures:
| Live Cattle: |
Aug |
up |
5 |
at |
11965 |
| |
Oct |
up |
55 |
at |
12582 |
| Feeders: |
Aug |
up |
50 |
at |
13825 |
| |
Sept |
down |
32 |
at |
14007 |
Cattle Comment
Cattle futures ended mixed. October futures moved to their highest level in two months. Resistance at the May high of $127 must be broken in order to suggest another leg up. October already holds a wide premium to cash prices, however, and that could limit upside potential.
Hogs
Peoria: were steady
at 55 to 57
| Chicago Futures: |
Aug |
down |
65 |
at |
9455 |
| |
Oct |
up |
65 |
at |
8197 |
Hogs Comment
Hog futures were mostly higher today. October has bounced back from recent lows, and despite flat cash prices and pressure from the likelihood of increased pork stocks in the fall as producers liquidate their herds because of high feed prices, the market has upside potential to $84-$85.
Poultry Date: July 30, 2012
Eggs
| New York: |
Ex. Lg. 154-158; Lg. 152-156; Med. 113-117; |
| Chicago: |
Ex. Lg. 147-155; Lg. 145-153; Med. 106-114; |
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 steady to weak. Offerings of all sizes are moderate to heavy for trade needs. Retail and distributive demand is light following the weekend. Market activity is mostly slow. In production areas, live supplies are moderate at mixed but mostly desirable weights.