Grain & Soybean Date: October 03, 2012
Soybeans
Local Elevators:
(Oct) EAST AR: 1485 to 1524
(NC) Summ. 1490 to 1529
River Elevators:
(Oct) MISS: 1532 to 1539 ; AR & White 1490
to 1529
(NC) Summ. 1495 to 1568
Ark. Processor Bids: (Oct) 1510 to 1515
(NC) 1515 to 1544
Memphis:
(Oct) 1531 3/4 to 1538 3/4 (NC)
- - - to - - -
Riceland Foods:
(Oct) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
Nov |
up |
1 1/4 |
at |
1531 3/4 |
| |
Jan |
down |
1 |
at |
1532 1/4 |
| |
March |
down |
1/4 |
at |
1501 1/2 |
| |
May |
up |
2 3/4 |
at |
1464 1/4 |
| |
July |
up |
4 3/4 |
at |
1451 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans traded sharply lower into the late morning with November stopping just above $15. A late session rally allowed most contracts to end the day on a positive note. November completed a 50% retracement of the June to September rally. Whether the market has bottomed is still in question with the gap between $14.78 and $14.93 a potential objective. Better than expected yields in the western Corn Belt have resulted in higher private production forecasts. F.C. Stone forecast a crop of 2.849 billion bushels, or 215 million bushels above the USDA September number. Coupled with big acreages in South America this has been a major factor in the almost $3 per bushel slide in November futures.
Wheat
Cash bid for October at Memphis 804 to 838;
| Bids to farmers at Local Elevators |
807-817; |
| River Elevators |
817-832; |
| Chicago Futures: |
Dec |
up |
1 1/2 |
at |
873 |
| |
March |
up |
1 |
at |
884 |
| |
May |
unchanged |
- - - |
at |
884 1/2 |
| |
July |
up |
2 3/4 |
at |
851 1/2 |
| |
Sept |
up |
3 |
at |
855 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for October at Memphis 1164 to - - -;
| Bids to farmers at River Elevators |
1066-1128; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
October at Memphis
661 3/4 to 736 3/4; |
| |
New Crop at Memphis
614 1/2 to 626 1/2; |
| Bids to farmers at River Elevators |
694 to 737 |
| Chicago Futures: |
Dec |
down |
1 1/2 |
at |
756 3/4 |
| |
March |
down |
2 1/4 |
at |
757 1/2 |
| |
May |
down |
2 |
at |
753 |
| |
July |
down |
1 1/2 |
at |
746 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures recovered a bit today, ending a penny or two higher. Export opportunities remain elusive for U.S. wheat. Egypt opted for lower priced wheat from France and Argentina in their weekly tender. The first level of support for July is last week’s low of $8.28.
Corn also firmed in the late trade but ended the session mostly lower. Corn, too, had had better yields which has prompted a slight upward adjustment in private forecasts. Last week’s lower than expected stock report suggests ending stocks of less than 600 million bushels. New Crop 2013 corn appears to be developing good support between $6.00 and $6.25, with strong resistance around $6.50 to $6.60.
Cotton & Rice Date: October 03, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 31 at
67.91 |
| |
Greenwood up
31 at 67.91 |
| New York Futures: |
Oct |
up |
24 |
at |
7054 |
| |
Dec |
up |
31 |
at |
7216 |
| | March |
up |
28 |
at |
7297 |
| | May |
up |
29 |
at |
7371 |
| | July |
up |
33 |
at |
7445 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton followed the lead of soybeans and reversed early losses to close with slight gains. There is little to suggest that this market will catch fire in the near future. Poor world economic conditions and a slowing Chinese economy don’t bode well for cotton, especially with huge stocks looming over the market. Support at 70 cents appears solid at this point. Like rice some mid-south cotton acreage will shift to corn and beans in 2013.
Rice
| Long Grain Cash Bid for |
Oct |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
Nov |
down |
1/2 |
at |
1532 |
| | 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 moved lower, while continuing to hold in a sideway consolidation pattern. The market remains fairly quiet as the harvest proceeds. Generally speaking it appears yields are down about 10% after Isaac. Quality is a problem in some areas with milling yields below normal. As we look ahead to 2013, some acreage could be lost to beans and corn.
Cattle & Hogs Date: October 03, 2012
Cattle
As reported by Federal-State Market News, receipts were 800 head
at sales in Conway & Pocahontas.
Compared with last week, feeder steers sold steady to $2 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
156.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
143.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
134.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
142.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
129.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
124.00 |
to |
- - - |
Slaughter Cows, Boners 67.00 to 75.00
Light Weight - - - to - - -
Bulls, Yield Grade 1
1000 to 2000 lbs. 84.00
to 90.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
156.00 |
to |
170.00 |
| |
500 |
to |
550 lbs. |
140.00 |
to |
153.00 |
| Heifers |
450 |
to |
500 lbs. |
131.00 |
to |
144.00 |
| |
500 |
to |
550 lbs. |
128.00 |
to |
140.00 |
Chicago Futures:
| Live Cattle: |
Oct |
down |
20 |
at |
12307 |
| |
Dec |
down |
35 |
at |
12602 |
| Feeders: |
Oct |
down |
7 |
at |
14530 |
| |
Nov |
up |
30 |
at |
14680 |
Cattle Comment
Cattle futures were under pressure today. Nearby contracts are feeling the burden of large fed cattle supplies. Deferred contracts were lower today on demand uncertainty.
Hogs
Peoria: were $2.50 lower to $1.50 higher
at 51.00 to 51.50
| Chicago Futures: |
Oct |
up |
87 |
at |
8002 |
| |
Dec |
down |
97 |
at |
7587 |
Hogs Comment
Hog futures were mostly lower today as traders took profits after the recent rally. Nearby October was supported by Tuesday’s $3 jump in the composite pork cutout.
Poultry Date: October 03, 2012
Eggs
| New York: |
Ex. Lg. 120-124; Lg. 118-122; Med. 95-99; |
| 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 sufficient. Demand is moderate for mid-week business. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.