Grain & Soybean Date: November 06, 2012
Soybeans
Local Elevators:
(Nov) EAST AR: 1475 to 1514
(NC) Summ. 1479 to 1518
River Elevators:
(Nov) MISS: 1522 to 1540 ; AR & White 1477
to 1520
(NC) Summ. 1481 to 1556
Ark. Processor Bids: (Nov) 1502 to 1514
(NC) 1506 to 1528
Memphis:
(Nov) 1539 1/2 to 1540 1/2 (NC)
- - - to - - -
Riceland Foods:
(Nov) Stuttgart 1502 ; Pendleton
1514
(NC) Stuttgart 1315 ; Pendleton
1320
| Chicago Futures: |
Nov |
up |
12 1/2 |
at |
1516 3/4 |
| |
Jan |
up |
12 1/4 |
at |
1515 1/2 |
| |
March |
up |
8 1/2 |
at |
1491 |
| |
May |
up |
8 3/4 |
at |
1465 1/4 |
| |
July |
up |
9 1/2 |
at |
1450 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans turned higher today. Reuter’s released their pre-report poll results today, and show that the soybean estimate is expected to increase to 2.89 billion bushels, up 32 million from the October report. Expiring November has resistance at $15 and /or the recent low near $14.85. Those same points are significant for the most active January contract as well.
Wheat
Cash bid for November at Memphis 825 to 872;
| Bids to farmers at Local Elevators |
835-855; |
| River Elevators |
845-870; |
| Chicago Futures: |
Dec |
up |
11 |
at |
877 |
| |
March |
up |
11 1/4 |
at |
890 1/2 |
| |
May |
up |
11 1/4 |
at |
897 1/2 |
| |
July |
up |
5 1/2 |
at |
879 1/2 |
| |
Sept |
up |
5 1/4 |
at |
887 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for November at Memphis 1189 to 1198;
| Bids to farmers at River Elevators |
1091-1198; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
November at Memphis
746 to - - -; |
| |
New Crop at Memphis
628 to - - -; |
| Bids to farmers at River Elevators |
711 to 746 |
| Chicago Futures: |
Dec |
up |
5 1/2 |
at |
741 |
| |
March |
up |
5 |
at |
743 |
| |
May |
up |
4 1/4 |
at |
739 3/4 |
| |
July |
up |
4 1/4 |
at |
731 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures were also higher today. As expected, the crop conditions report released yesterday afternoon showed further deterioration in the winter wheat crop. Only 39% of the crop is rated good to excellent at this point.
Corn posted gains as well. December is still trading near the bottom of a narrow range that has contained the market for the last six weeks. Reuters pre-report poll results show traders expecting a corn crop of 10.65 billion bushels, down slightly from last month’s estimate. Demand remains a concern as end users are finding substitutes like wheat from sources like India and Former Soviet Union countries.
Cotton & Rice Date: November 06, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 25 at
6690 |
| |
Greenwood up
25 at 6690 |
| New York Futures: |
Dec |
down |
30 |
at |
7010 |
| |
March |
down |
41 |
at |
7124 |
| | May |
down |
37 |
at |
7238 |
| | July |
down |
45 |
at |
7325 |
| | Oct |
down |
39 |
at |
7492 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was lower today. Long term cotton is looking for improved world economic conditions, while attempting to woo back part of the textile market that was lost to manmade fibers. World production should ratchet down in 2013, but it will likely take at least two years to get stocks back to a more manageable number.
Rice
| Long Grain Cash Bid for |
Nov |
1392/cwt |
to |
- - - |
| |
NC |
1462/cwt |
to |
- - - |
| Chicago Futures: |
Nov |
up |
17 1/2 |
at |
1503 1/2 |
| | Jan |
up |
16 |
at |
1532 |
| | March |
up |
16 1/2 |
at |
1563 |
| | May |
up |
16 1/2 |
at |
1591 1/2 |
| | July |
up |
16 1/2 |
at |
1612 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures turned higher, mostly on carryover strength from other markets. There are few fresh fundamentals to give this market direction. Prospects of smaller U.S. plantings in 2013 are a positive for the market. On the other hand, large world stocks remain a negative factor. Look for minor changes if any in Friday’s supply demand report.
Cattle & Hogs Date: November 06, 2012
Cattle
As reported by Federal-State Market News, receipts were 968 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers sold unevenly .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
172.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
153.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
140.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
154.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
139.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
140.00 |
to |
- - - |
Slaughter Cows, Boners 70.00 to 77.00
Light Weight 53.00 to 61.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 86.50
to 92.50
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
163.00 |
to |
173.00 |
| |
550 |
to |
600 lbs. |
149.50 |
to |
157.50 |
| Heifers |
450 |
to |
500 lbs. |
142.00 |
to |
156.50 |
| |
500 |
to |
550 lbs. |
134.00 |
to |
145.00 |
Chicago Futures:
| Live Cattle: |
Dec |
up |
40 |
at |
12567 |
| |
Feb |
up |
37 |
at |
12937 |
| Feeders: |
Nov |
down |
5 |
at |
14485 |
| |
Jan |
down |
5 |
at |
14672 |
Cattle Comment
Cattle futures were mostly higher. Uncertainty about the election and what it means for the economy kept volume relatively light. Nearby December was supported by its premium to cash prices.
Hogs
Peoria: were steady to $4 lower
at 50 to 52
| Chicago Futures: |
Dec |
up |
65 |
at |
7757 |
| |
Feb |
up |
47 |
at |
8342 |
Hogs Comment
Hog futures were mixed. Yesterday’s weakness was attributed to the $1.77 drop in the cutout on Monday. Cash values improved today, and the market posted small gains. The chart for June 2013 has taken on a bearish appearance, with prices moving to a 5 week low.
Poultry Date: November 06, 2012
Eggs
| New York: |
Ex. Lg. 130-134; Lg. 128-132; Med. 113-112; |
| Chicago: |
Ex. Lg. 125-133; Lg. 123-131; Med. 108-116; |
National Turkeys
| Hens: |
8-16 lbs |
109.58 |
| Toms: |
16-24 lbs |
112.17 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices are trending steady to firm for whole broiler/fryers. Offerings are sufficient for current trade needs. Demand is moderate for early week trading. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.