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Daily Market Report Archive

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:

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:

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:

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  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:

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 
medium grain rice is 
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 A
Prices 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.