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Daily Market Report Archive

Grain & Soybean Date: November 02, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1475 to 1519
(NC) Summ. 1480 to 1524
River Elevators:
(Nov) MISS: 1528 to 1547 ; AR & White 1477 to 1526
(NC) Summ. 1482 to 1567
Ark. Processor Bids: (Nov) 1502 to 1525  (NC) 1507 to 1539
Memphis:  (Nov) 1551 3/4 to 1552 3/4 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1512 ; Pendleton 1524 
 (NC) Stuttgart 1307 ; Pendleton 1312 

Chicago Futures: Nov down 31 1/2 at  1527
  Jan  down  33 1/4  at  1526 3/4
  March down 29 3/4  at  1503 3/4
  May down 21 3/4  at  1471 1/4
  July down 20  at  1454
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans posted huge losses today. A stronger dollar caused weakness across the board today. Informa released a new crop estimate for soybeans today, raising their total crop estimate to 2.925 billion bushels. That comes on the heels of upward revisions from other private firms as well. On the plus side, export sales were up 42% from last week, but it just wasn’t enough to overcome the negative sentiment in the market today.

Wheat
Cash bid for November at Memphis  811 1/2 to 859 1/2;

Bids to farmers at Local Elevators 830-850;
River Elevators 840-865;

Chicago Futures: Dec down  at  864 1/2 
  March down 4 3/4  at  878 1/2 
  May down  4 3/4  at  885 1/2 
  July down  2 1/4  at  875 
  Sept down  2 1/2  at  883 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1187 to - - -;

Bids to farmers at River Elevators 1088-1194;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for November at Memphis   744 1/2 to 749 1/2;
  NC at Memphis   627 1/2 to - - -;
Bids to farmers at River Elevators  700 to 745

Chicago Futures: Dec down  11 1/2  at  739 1/2 
  March down  11  at  742 1/2 
  May down  10  at  739 1/2 
  July down  9 1/4  at  730 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was lower, too, but losses were limited. 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. Wheat exports were down 37% from last week, but still within trade expectations.

Corn did not escape the selloff, and closed lower. Inability to push through resistance above $7.60 this week sparked weakness yesterday. Corn exports were 167,900 metric tons for the week, which was within trade expectations. Informa cut their corn production estimate to 10.738 billion bushels today, which should be supportive for prices. New crop December 2013 remains a very tight trading range that has a slight upward bias.



Cotton & Rice  Date: November 02, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 14 at  6660
  Greenwood up  14 at 6660

New York Futures: Dec up  14  at  7035 
  March down  at  7144 
 May down  at  7270 
 July down  at  7379 
 Oct down  at  7537 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was mixed, with nearby December higher. A stronger dollar added pressure to commodities, as it makes U.S. goods more expensive to foreign buyers. Upside potential remains limited with growing world stocks a major factor.

Rice

Long Grain Cash Bid for  Nov 1361/cwt  to  - - -
  NC 1430/cwt  to  - - -

Chicago Futures: Nov down  5 1/2  at  1471 
 Jan down  at  1500 1/2 
 March down  at  1531 
 May down  at  1559 1/2 
 July down  at  1580 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice also succumbed to the sell-off. 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 02, 2012

Cattle
As reported by Federal-State Market News, receipts were 11,075 head at sales in Arkansas this week.  Compared with last week, feeder steers sold mostly weak to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 174.50 to - - -
  500 to 550 lbs. 154.00 to - - -
  600 to 650 lbs. 137.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 163.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 135.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 138.50 to - - -

Slaughter Cows, Boners 68.00   to   76.00
Light Weight 56.00 to 64.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   82.00   to   92.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 159.00 to 184.00
  500 to 550 lbs. 147.00 to 174.50
Heifers 450 to 500 lbs. 132.00 to 164.00
  500 to 550 lbs. 127.00 to 150.00

Chicago Futures:
Live Cattle: Dec up 10 at 12542
  Feb down 5 at 12917
Feeders: Nov up 25 at 14490
  Jan up 32 at 14667

Cattle Comment
Cattle futures were mixed. Feeders were supported by losses in corn. Falling beef prices and already weak packer margins are pushing live contracts lower.

Hogs
Peoria: were     steady   at   52.00   to   54.00

Chicago Futures: Dec down 10 at 7775
  Feb down 25 at 8390

Hogs Comment
Hog futures were lower across the board. Packer margins have shown some improvement, and there could be increased demand for hogs as some plants attempt to fill in for lost production from East coast plants. The market is chopping along mostly sideways with December holding between resistance at $79.80 and support at $76.82.



Poultry  Date: November 02, 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 109.58
Toms: 16-24 lbs 112.17
 

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