Grain & Soybean Date: October 09, 2012
Soybeans
Local Elevators:
(Oct) EAST AR: 1510 to 1549
(NC) Summ. 1515 to 1553
River Elevators:
(Oct) MISS: 1558 to 1562 ; AR & White 1516
to 1550
(NC) Summ. 1520 to 1585
Ark. Processor Bids: (Oct) 1536 to 1545
(NC) 1540 to 1561
Memphis:
(Oct) 1558 to 1563 (NC)
- - - to - - -
Riceland Foods:
(Oct) Stuttgart 1536 ; Pendleton
1549
(NC) Stuttgart 1308 ; Pendleton
1313
| Chicago Futures: |
Nov |
down |
1 |
at |
1550 |
| |
Jan |
up |
1 1/4 |
at |
1549 1/4 |
| |
March |
up |
2 1/4 |
at |
1504 1/4 |
| |
May |
up |
2 |
at |
1451 1/4 |
| |
July |
up |
2 |
at |
1437 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans traded higher throughout most of the electronic session before closing narrowly mixed as traders await the October supply demand report. A slightly larger crop is anticipated and when combined with a 10% increase in Brazil’s plantings it has pressured prices. November closed just under $15.50, or almost $2.40 off the recent high. The market appears to have bottomed, but Thursday’s report could move November toward lower objectives at $14.78 or $14.57 if yields are better than anticipated. At some point, the market could rebound toward $16.50.
Wheat
Cash bid for October at Memphis 811 1/4 to 829 1/4;
| Bids to farmers at Local Elevators |
798-808; |
| River Elevators |
808-828; |
| Chicago Futures: |
Dec |
up |
3 1/4 |
at |
864 1/4 |
| |
March |
up |
4 1/2 |
at |
875 3/4 |
| |
May |
up |
4 3/4 |
at |
876 1/2 |
| |
July |
up |
2 1/4 |
at |
843 |
| |
Sept |
up |
1 3/4 |
at |
846 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for October at Memphis 1146 to - - -;
| Bids to farmers at River Elevators |
1057-1138; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
October at Memphis
662 to 737; |
| |
New Crop at Memphis
599 to 626; |
| Bids to farmers at River Elevators |
697 to 727 |
| Chicago Futures: |
Dec |
unchanged |
- - - |
at |
742 |
| |
March |
up |
1/4 |
at |
742 1/4 |
| |
May |
up |
1/4 |
at |
736 1/4 |
| |
July |
up |
1/4 |
at |
730 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures turned higher today. The trade is expecting Thursday’s report to be bullish. Expectations are for a lower crop estimate for Russia, Ukraine and Australia, resulting in a lower ending stocks number.
Corn market traded around yesterday’s close through much of the session. Late harvest yields are better than expected, but more acreage is expected to be abandoned and the average trade estimate is for a production number around 10.6 billion, down 127 million from September. Retracement objectives of 7.77 and 7.94 for the December contract could come into play on a lower production number. The recent low near $7.05 should be solid support.
Cotton & Rice Date: October 09, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 35 at
6759 |
| |
Greenwood up
35 at 6759 |
| New York Futures: |
Oct |
up |
6 |
at |
7049 |
| |
Dec |
up |
6 |
at |
7184 |
| | March |
up |
12 |
at |
7274 |
| | May |
up |
15 |
at |
7372 |
| | July |
up |
14 |
at |
7456 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton firmed ever so slightly as December continues to fold near the bottom of a trading range (77.5 to 70 cents) that has persisted since late June. Good yields in the midsouth will partially offset higher abandonment in Texas. Slow world economic conditions, including China, don’t bode well for cotton, as it tries to reclaim lost market share. China will bargain hunt but is expected to import substantially less Cotton during the 2012-13 season.
Rice
| Long Grain Cash Bid for |
Oct |
1398/cwt |
to |
- - - |
| |
NC |
1488/cwt |
to |
- - - |
| Chicago Futures: |
Nov |
down |
13 1/2 |
at |
1523 |
| | Jan |
down |
13 1/4 |
at |
1555 1/2 |
| | March |
down |
13 1/2 |
at |
1583 1/2 |
| | May |
down |
13 |
at |
1605 1/2 |
| | July |
down |
13 |
at |
1628 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice reversed yesterday’s gains and closed lower in the active front end contracts. Lower plated acreage in South America, and possibly next springs in the U.S. could be a springboard to firmer price levels. However, at this juncture there is nothing solid to hang your hat on. November futures have strong resistance around $15.50.
Cattle & Hogs Date: October 09, 2012
Cattle
As reported by Federal-State Market News, receipts were 2970 head
at sales in Ft. Smith, Heber Springs, Springdale & Ash Flat.
Compared with last week, feeder steers sold mostly firm to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
175.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
156.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
138.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
163.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
136.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
140.00 |
to |
- - - |
Slaughter Cows, Boners 70.00 to 78.00
Light Weight 53.00 to 61.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 84.00
to 93.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
164.00 |
to |
173.00 |
| |
500 |
to |
550 lbs. |
154.50 |
to |
169.50 |
| Heifers |
450 |
to |
500 lbs. |
138.00 |
to |
155.00 |
| |
500 |
to |
550 lbs. |
133.50 |
to |
143.50 |
Chicago Futures:
| Live Cattle: |
Oct |
up |
135 |
at |
12470 |
| |
Dec |
up |
32 |
at |
12672 |
| Feeders: |
Oct |
down |
12 |
at |
14470 |
| |
Nov |
up |
40 |
at |
14670 |
Cattle Comment
Cattle futures were mostly higher. Live contracts were higher on expectations for higher cash trade in the $125 area this week. Feeders were supported by higher live cattle prices. A stronger dollar and weaker stock markets limited gains.
Hogs
Peoria: were steady
at 50.00 to 52.00
| Chicago Futures: |
Oct |
up |
47 |
at |
8190 |
| |
Dec |
down |
7 |
at |
7680 |
Hogs Comment
Hog futures were mostly higher. December continues to trend higher, but has resistance at $77.75.
Poultry Date: October 09, 2012
Eggs
| New York: |
Ex. Lg. 117-121; Lg. 115-119; Med. 94-98; |
| Chicago: |
Ex. Lg. 110-118; Lg. 108-116; Med. 85-93; |
National Turkeys
| Hens: |
8-16 lbs |
111.02 |
| Toms: |
16-24 lbs |
111.61 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices are holding steady for whole broiler/fryers. Offerings are sufficient for current trade needs with trading usually limited to regular commitments. Demand into retail and food service channels is moderate following the holiday the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.