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Daily Market Report Archive

Grain & Soybean Date: October 05, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1513 to 1551
(NC) Summ. 1509 to 1548
River Elevators:
(Oct) MISS: 1562 to 1554 ; AR & White 1518 to 1549
(NC) Summ. 1514 to 1587
Ark. Processor Bids: (Oct) 1535 to 1538  (NC) 1534 to 1563
Memphis:  (Oct) 1558 1/2 to 1564 1/2 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Nov unchanged - - - at  1551 1/2
  Jan  unchanged  - - -  at  1551
  March down 5 1/2  at  1513
  May down 9 1/2  at  1460 1/2
  July down 12  at  1442 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybean futures were unchanged to lower today. Informa released their new crop estimates today. They now believe the average soybean yield in the U.S. will be 37.8 bushels/acre, with the crop coming in at 2.86 billion bushels. Whether the market has bottomed is still in question with the gap between $14.78 and $14.93 a potential objective.

Wheat
Cash bid for October at Memphis  804 1/2 to 822 1/2;

Bids to farmers at Local Elevators 795-805;
River Elevators 805-820;

Chicago Futures: Dec down  11 3/4  at  857 1/2 
  March down 11  at  868 3/4 
  May down  10 1/4  at  869 1/2 
  July down  3 1/2  at  840 1/4 
  Sept down  2 3/4  at  844 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for October at Memphis  1148 to - - -;

Bids to farmers at River Elevators 1068-1113;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for October at Memphis   663 to 736;
  New Crop at Memphis   599 1/2 to 611 1/2;
Bids to farmers at River Elevators  695 to 728

Chicago Futures: Dec down  at  748 
  March down  8 3/4  at  748 1/2 
  May down  9 1/2  at  743 3/4 
  July down  8 1/2  at  737 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were lower in all 2012-2013 crops. Exports continue to lag, and optimism that buyers will turn to higher priced U.S. wheat as Russia runs out is waning. This is despite the fact that Russia has announced they will release almost 1 million metric tons of grain into the domestic market to keep prices in check, another signal they are finished in the export market. The first level of support for July is last week’s low of $8.28.

Corn was also lower. Informa now estimates the average corn yield will be 127 bushels/acre, bringing the crop total to 11.194 billion 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 05, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 60 at  6724
  Greenwood down  60 at 6724

New York Futures: Oct down  60  at  6980 
  Dec down  60  at  7149 
 March down  79  at  7230 
 May down  68  at  7323 
 July down  55  at  7413 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was lower. 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  26 1/2  at  1510 1/2 
 Jan down  26  at  1543 
 March down  26  at  1571 
 May down  26  at  1591 1/2 
 July down  15 1/2  at  1624 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice seems to be in a trend of up one day and down the next right now, 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 05, 2012

Cattle
As reported by Federal-State Market News, receipts were 8935 head at sales in Arkansas this week.  Compared with last week, feeder steers sold unevenly, averaging near steady .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 167.00 to - - -
  500 to 550 lbs. 153.00 to - - -
  600 to 650 lbs. 139.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 153.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 136.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 137.00 to - - -

Slaughter Cows, Boners 68.00   to   76.00
Light Weight 53.00 to 61.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   84.00   to   94.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 156.00 to 184.00
  500 to 550 lbs. 140.00 to 175.00
Heifers 450 to 500 lbs. 131.00 to 156.00
  500 to 550 lbs. 128.00 to 145.00

Chicago Futures:
Live Cattle: Oct up 72 at 12305
  Dec up 50 at 12620
Feeders: Oct up 35 at 14482
  Nov up 37 at 14620

Cattle Comment
Cattle futures were mixed today. Nearby contracts were supported by the Labor Department’s surprising employment report, showing the lowest level of unemployment in 4 years. That is good news for meat demand.

Hogs
Peoria: were     steady   at   51.50   to   52.00

Chicago Futures: Oct down 47 at 8132
  Dec up 50 at 7655

Hogs Comment
Hog futures ended mixed. December continues to trend higher, with trendline support near $74.50.



Poultry  Date: October 05, 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 111.02
Toms: 16-24 lbs 111.61
 

Delmarva Broilers
U.S. Grade A
Prices are holding steady for whole broiler/fryers. Offerings are sufficient for current trade needs. Demand into retail and food service channels is moderate entering the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.