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Daily Market Report Archive

Grain & Soybean Date: October 04, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1512 to 1551
(NC) Summ. 1509 to 1548
River Elevators:
(Oct) MISS: 1552 to 1562 ; AR & White 1518 to 1549
(NC) Summ. 1514 to 1587
Ark. Processor Bids: (Oct) 1535 to 1538  (NC) 1534 to 1563
Memphis:  (Oct) 1559 1/2 to 1564 1/2 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Nov up 19 3/4 at  1551 1/2
  Jan  up  18 3/4  at  1551
  March up 17  at  1518 1/2
  May up 5 3/4  at  1470
  July up 2 1/2  at  1454 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Current crop soybeans rallied strongly today in reaction to positive export news and bargain buying after November completed a 50% retracement of the June to September rally yesterday. Whether the market has bottomed is still in question with the gap between $14.78 and $14.93 a potential objective. USDA reported export sales of 1.3 million metric tons last week, significantly higher than the average trade guess of 700,000 to 900,000 bushels.

Wheat
Cash bid for October at Memphis  816 1/4 to 834 1/4;

Bids to farmers at Local Elevators 799-809;
River Elevators 809-824;

Chicago Futures: Dec down  3 3/4  at  869 1/4 
  March down 4 1/4  at  879 3/4 
  May down  4 3/4  at  879 3/4 
  July down  7 3/4  at  843 3/4 
  Sept down  8 1/2  at  846 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for October at Memphis  1164  to - - -;

Bids to farmers at River Elevators 1066-1129;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for October at Memphis   667 to 745;
  New Crop at Memphis   606 3/4 to 618 3/4;
Bids to farmers at River Elevators  699 to 737

Chicago Futures: Dec up  1/4  at  757 
  March down  1/4  at  757 1/4 
  May up  1/4  at  753 1/4 
  July up  1/4  at  746 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were lower across the board. Export totals for last week were disappointing at 307,000 metric tons, down 28% from a week earlier. The first level of support for July is last week’s low of $8.28.

Corn was narrowly mixed. Exports totaled 326,900 metric tons last week. Cumulative exports are down 25% from a year ago. 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 04, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 7 at  6784
  Greenwood down  7 at 6784

New York Futures: Oct down  14  at  7040 
  Dec down  at  7209 
 March up  12  at  7309 
 May up  20  at  7391 
 July up  23  at  7468 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was mixed. 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 up  13  at  1537 
 Jan up  8 1/2  at  1569 
 March up  13 1/2  at  1597 
 May up  12  at  1617 1/2 
 July up  11 1/2  at  1640 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was higher today, and continues 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 04, 2012

Cattle
As reported by Federal-State Market News, receipts were 1153 head at sales in Ratfliff & Green Forest.  Compared with last week, feeder steers sold mostly firm to $7 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 167.00 to - - -
  500 to 550 lbs. 155.00 to - - -
  600 to 650 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 151.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 138.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 136.00 to - - -

Slaughter Cows, Boners 70.00   to   76.00
Light Weight 62.00 to 67.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   84.00   to   89.00
Midwest Steers   were   at   124.00   to   - - -
Panhandle Steers   were   at   124.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 160.00 to 174.00
  500 to 550 lbs. 150.00 to 160.00
Heifers 450 to 500 lbs. 137.00 to 149.00
  500 to 550 lbs. 129.00 to 139.00

Chicago Futures:
Live Cattle: Oct down 75 at 12232
  Dec down 32 at 12570
Feeders: Oct down 82 at 14447
  Nov down 97 at 14582

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, despite strong exports.

Hogs
Peoria: were steady to $1     higher   at   51.50   to   52.00

Chicago Futures: Oct up 177 at 8180
  Dec up 17 at 7605

Hogs Comment
Hog futures were mostly lower today as traders took profits after the recent rally. Nearby contracts were supported by a weaker dollar and stronger cash prices.



Poultry  Date: October 04, 2012

Eggs

New York:  Ex. Lg. 117-121; Lg. 115-119; Med. 94-98;
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
Prices are holding steady for whole broiler/fryers. Offerings are sufficient for current trade needs. Demand is moderate approaching the weekend. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.