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: |
0¢ |
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 |
5 |
at |
848 3/4 |
| |
Sept |
down |
4 |
at |
852 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
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: |
0¢ |
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 |
1 |
at |
747 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
4 |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 AWhole 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.