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Daily Market Report Archive

Grain & Soybean Date: October 02, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1484 to 1523
(NC) Summ. 1491 to 1530
River Elevators:
(Oct) MISS: 1528 to 1536 ; AR & White 1489 to 1525
(NC) Summ. 1496 to 1569
Ark. Processor Bids: (Oct) 1509 to 1514  (NC) 1516 to 1545
Memphis:  (Oct) 663 1/4 to 1535 1/2 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart 1509 ; Pendleton 1523 
 (NC) Stuttgart 1290 ; Pendleton 1295 

Chicago Futures: Nov down 29 3/4 at  1530 1/2
  Jan  down  29 3/4  at  1533 1/4
  March down 27 3/4  at  1501 3/4
  May down 27  at  1461 1/2
  July down 22 1/4  at  1447
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were hit hard as harvest continues to move at a rapid pace, and yields appear to be better than expected. In addition, record plantings are projected for South America. Brazil plantings are estimated at 68 million acres w3ith production just over 79 million metric tonnes. Drier weather is expected to allow field preparation in areas of Argentina. November futures appear headed to the 50% retracement objective of $15.18, or perhaps the gap that extends from $14.93 to $14.78. November 2013 closed at $13.24 and appears to have support around $43.

Wheat
Cash bid for October at Memphis  803 1/2 to - - -;

Bids to farmers at Local Elevators 804-814;
River Elevators 814-829;

Chicago Futures: Dec down  12 3/4  at  871 1/2 
  March down 13  at  883 
  May down  10 1/2  at  884 1/2 
  July down  at  848 3/4 
  Sept down  at  852 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for October at Memphis  1167 to - - -;

Bids to farmers at River Elevators 1068-1131;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for October at Memphis   663 1/4 to 738 1/4;
  New Crop at Memphis   613 to 625;
Bids to farmers at River Elevators  695 to 733

Chicago Futures: Dec up  1 1/2  at  758 1/4 
  March down  1/4  at  759 3/4 
  May down  3/4  at  755 
  July down  at  747 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted losses again today. Export opportunities for U.S. wheat continue to be elusive as lower prices origins keep filling the available tenders. The first level of support for July is last week’s low of $8.28.

Corn closed narrowly mixed again today with last week’s stocks report remaining a factor. December futures are hanging around a shallow downtrend drawn off the secondary high of $8.40 that occurred in late August. It will take a close above yesterday’s high of $7.68 ½ to extend the upturn. Support is the Friday low of $7.05.



Cotton & Rice  Date: October 02, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 65 at  6760
  Greenwood up  65 at 6760

New York Futures: Oct up  59  at  7030 
  Dec up  65  at  7185 
 March up  49  at  7269 
 May up  28  at  7342 
 July up  at  7412 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures closed on the positive side in all the forward contracts. Gains continue to be limited with trading in a narrow range just above 71 cents. Poor world economic conditions don’t bode well for cotton. At the same time cotton must regain market share that was lost to man-made fibers when China pushed the market above the $2 level two years ago. Carryover stocks are projected to be more than 76 million bales with China, the U.S.’s best customer, holding almost half of those stocks.

Rice

Long Grain Cash Bid for  Oct 1412/cwt  to  - - -
  NC 1475/cwt  to  - - -

Chicago Futures: Nov up  13  at  1537 
 Jan up  13  at  1569 
 March up  13  at  1597 
 May up  12  at  1618 
 July up  12  at  1640 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were slightly higher on the front end contracts with November well below resistance around $45.50. Upside potential remains limited by large world stocks particularly in Thailand. Fresh export demand will be needed to give the market a boost.



Cattle & Hogs  Date: October 02, 2012

Cattle
As reported by Federal-State Market News, receipts were 1130 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold mostly steady to $1 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 170.00 to - - -
  500 to 550 lbs. 147.00 to - - -
  600 to 650 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 153.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 132.00 to - - -

Slaughter Cows, Boners 72.00   to   77.00
Light Weight 54.00 to 60.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   85.00   to   95.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 500 lbs. 157.50 to 178.00
  500 to 600 lbs. 147.00 to 163.00
Heifers 400 to 500 lbs. 137.00 to 156.00
  500 to 600 lbs. 133.00 to 145.00

Chicago Futures:
Live Cattle: Oct up 25 at 12327
  Dec up 25 at 12637
Feeders: Oct up 70 at 14537
  Nov up 87 at 14650

Cattle Comment
Cattle futures were higher across the board today. Strong gains in cutout values today supported live futures. Feeders continue to be supported by profit taking.

Hogs
Peoria: were     steady   at   49.00   to   49.50

Chicago Futures: Oct up 157 at 7915
  Dec up 172 at 7685

Hogs Comment
The rally in reaction to Friday’s inventory report continued today in the hog pit. The report confirmed that farmers are liquidating herds. The total number of hogs weighing under 119 lbs. was 99.9% of last year’s total.



Poultry  Date: October 02, 2012

Eggs

New York:  Ex. Lg. 128-132; Lg. 126-130; Med. 101-105;
Chicago:  Ex. Lg. 134-142; Lg. 132-140; Med. 105-113;

National Turkeys
Hens: 8-16 lbs 110.86
Toms: 16-24 lbs 112.56
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryer prices are holding steady. Offerings are moderate. Demand is moderate with trading usually limited to regular commitments. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.