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Daily Market Report Archive

Grain & Soybean Date: November 01, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1507 to 1551
(NC) Summ. 1513 to 1557
River Elevators:
(Nov) MISS: 1545 to 1586 ; AR & White 1507 to 1548
(NC) Summ. 1515 to 1600
Ark. Processor Bids: (Nov) 1534 to 1558  (NC) 1540 to 1572
Memphis:  (Nov) 1579 to 1588 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1534 ; Pendleton 1551 
 (NC) Stuttgart 1319 ; Pendleton 1324 

Chicago Futures: Nov up 11 1/2 at  1558 1/2
  Jan  up  11 1/4  at  1560
  March up 9 3/4  at  1533 1/2
  May up 14 3/4  at  1493
  July up 13 1/4  at  1474
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed higher, although gains were pared in late trading. During the morning hours gains moved above 20 cents, but ended the well off the high. Weather concerns range from extremely dry in Central Brazil to too wet in Southern Brazil and Argentina. Current estimates put the Brazilian crop at or near 3 billion bushels. For now the market is looking at improving economic factors in China and expected good demand. November made another strong move toward $15.75 before backing off. A close above that level would be technically positive.

Wheat
Cash bid for November at Memphis  815 1/2 to 863 1/2;

Bids to farmers at Local Elevators 832-852;
River Elevators 842-867;

Chicago Futures: Dec up  at  868 1/2 
  March up at  883 1/4 
  May up  at  890 1/4 
  July up  3 3/4  at  877 1/4 
  Sept up  3 1/4  at  885 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1207 to - - -;

Bids to farmers at River Elevators 1109-1211;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for November at Memphis   761 to - - -;
  New Crop at Memphis   636 1/4 to - - -;
Bids to farmers at River Elevators  696 to 756

Chicago Futures: Dec down  4 3/4  at  751 
  March down  3 1/2  at  753 1/2 
  May down  at  749 1/2 
  July down  at  740 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat closed slightly higher with outside markets providing solid support. New crop July continues to inch toward the mid-September spike high of $8.95. In the first crop ratings report only 40% of the crop is rated good to excellent. So there is some concern about how this crop will progress.

Corn closed mixed as old crop contracts gave back early gains. Inability to push through resistance above $7.60 led to late technical selling and a December close just above $7.50. New crop December 2013 remains a very tight trading range that has a slight upward bias. The soybeans/corn price ratio is around 2.11 while still favors corn.



Cotton & Rice  Date: November 01, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 14 at  6646
  Greenwood up  14 at 6646

New York Futures: Dec up  14  at  7021 
  March up  11  at  7150 
 May up  17  at  7274 
 July up  16  at  7388 
 Oct up  16  at  7546 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was steady with minor gains registered across the board. Improving U.S. economic reports were sufficient to provide a steady undertone to the cotton market. Upside potential remains limited with growing world stocks a major factor.

Rice

Long Grain Cash Bid for  Nov 1358/cwt  to  - - -
  NC 1448/cwt  to  - - -

Chicago Futures: Nov down  6 1/2  at  1476 1/2 
 Jan down  6 1/2  at  1507 1/2 
 March down  6 1/2  at  1538 
 May down  5 1/2  at  1566 1/2 
 July down  at  1587 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice attempted to build on yesterday’s firmer market, but couldn’t hold gains and ended the day lower. At this point the trend is down with January futures having support at $15 and then $14.85. Movement is fairly steady with mill schedules full through the end of the year. The international market is steady to firm with growing concern about Thai intervention stocks.



Cattle & Hogs  Date: November 01, 2012

Cattle
As reported by Federal-State Market News, receipts were 2278 head at sales in Charlotte, Ratcliff, & Green Forest.  Compared with last week, feeder steers sold unevenly, mostly steady .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 174.00 to - - -
  500 to 550 lbs. 159.00 to - - -
  600 to 650 lbs. 143.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 161.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 136.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 138.50 to - - -

Slaughter Cows, Boners 66.00   to   74.00
Light Weight 59.00 to 65.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   83.00   to   90.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: Dec down 60 at 12532
  Feb down 65 at 12922
Feeders: Nov down 165 at 14465
  Jan down 235 at 14635

Cattle Comment
Cattle futures were pressured again today. Yesterday’s wholesale beef decline and continued negative cutout margins have caused packers to reduce slaughter. That has also led to pressure on feeders.

Hogs
Peoria: were     steady   at   52.00   to   54.00

Chicago Futures: Dec down 40 at 7787
  Feb down 32 at 8415

Hogs Comment
Hog futures declined on a weak undertone in the cash market. Packer margins have shown some improvement, and there could be increased demand for hogs as some plants attempt to fill on for lost production from East coast plants.



Poultry  Date: November 01, 2012

Eggs

New York:  Ex. Lg. 128-132; Lg. 126-130; Med. 115-119;
Chicago:  Ex. Lg. 120-128; Lg. 118-126; Med. 105-113;

National Turkeys
Hens: 8-16 lbs 110.07
Toms: 16-24 lbs 114.16
 

Delmarva Broilers
U.S. Grade A
Prices are trending steady for whole broiler/fryers. Offerings are sufficient for current trade needs. Demand is moderate for late week trading. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.