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Daily Market Report Archive

Grain & Soybean Date: November 08, 2012

REMINDER: November Supply/Demand Report Webinar tomorrow (Fri., Nov 9, 2012) at 8:30 a.m. To participate in the Webinar click on the link and follow the instructions: www.tinyurl.com/arfbwebex. For more information call Matt King at 501-519-4297

Soybeans

Local Elevators:
(Nov) EAST AR:  1459 to 1498
(NC) Summ. 1464 to 1503
River Elevators:
(Nov) MISS: 1506 to 1526 ; AR & White 1461 to 1504
(NC) Summ. 1466 to 1536
Ark. Processor Bids: (Nov) 1486 to 1506  (NC) 1491 to 1508
Memphis:  (Nov) 1521 3/4 to 1528 3/4 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Nov down 9 1/2 at  1499 1/4
  Jan  down  11 1/4  at  1495 3/4
  March down 8 3/4  at  1476 1/2
  May down at  1456
  July down 4 1/2  at  1441 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans continued lower with the primary featuring being negative outside markets. Equities were sharply lower and the dollar stronger again today. Even a positive U.S. growth rate couldn’t keep the stock market from eventually moving lower. While total soybean export sales are nearly 75% of USDA’s annual projection this week’s sales were a 16 month low, which added to the negative undertone. January futures closed below $15 and are just over a dime above key support at $14.84. The next support is bottom of the early July breakaway gap at $14.41.

Wheat
Cash bid for November at Memphis  858 1/2 to 897 1/2;

Bids to farmers at Local Elevators 851-871;
River Elevators 861-886;

Chicago Futures: Dec up  8 1/2  at  902 1/2 
  March up 8 3/4  at  916 1/2 
  May up  8 1/2  at  922 1/2 
  July up  5 1/2  at  895 1/2 
  Sept up  at  904 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1199 to - - -;

Bids to farmers at River Elevators 1092-1199;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for November at Memphis   751 1/4 to 756 1/4;
  New Crop at Memphis   625  to - - -;
Bids to farmers at River Elevators  721 to 756

Chicago Futures: Dec down  at  741 1/4 
  March down  2 3/4  at  743 1/4 
  May down  2 1/4  at  740 1/4 
  July down  2 3/4  at  731 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat continued to move higher based on crop problems and situations in Australia, Argentina, Europe and the U.S. new crop July stopped just short of $9, closing near $8.96. Additional technical buying could be seen to close out the week, but it may depend on what happens with the November supply demand report which will be released at 7:30 a.m. central time tomorrow.

Corn was lower despite a smaller estimate for the Brazilian difficulties. Overall Brazilian corn exports for the coming year are projected to be down almost 15%. December futures are holding in the narrow trading range between $7.30 and $7.60. A close below $7.30 brings support around $7.05 back unto play.



Cotton & Rice  Date: November 08, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 57 at  6576
  Greenwood down  57 at 6576

New York Futures: Dec down  57  at  6926 
  March down  73  at  7034 
 May down  64  at  7158 
 July down  60  at  7252 
 Oct down  75  at  7414 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures dipped again today as equity weakness seems to always translate into a negative for cotton. There doesn’t appear to be any improvement in the overall fundamentals for cotton. Smaller world and U.S. plantings in 2013 are just a step in the right direction. It may take two years or more to get stocks down to a more reasonable number.

Rice

Long Grain Cash Bid for  Nov - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Nov down  16 1/2  at  1477 
 Jan down  16  at  1506 
 March down  15 1/2  at  1537 1/2 
 May down  15 1/2  at  1566 
 July down  16  at  1583 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
January Rice futures were sharply lower as the market has been unable to sustain any substantial upward movement. Support at this week’s low of $14.95 and the recent September low of $14.85 appear vulnerable, if new demand doesn’t surface.



Cattle & Hogs  Date: November 08, 2012

Cattle
As reported by Federal-State Market News, receipts were 2228 head at sales in Charlotte, Ratcliff, & Green Forest.  Compared with last week, feeder steers sold unevenly, mostly steady to $2 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 173.00 to - - -
  500 to 550 lbs. 155.00 to - - -
  600 to 650 lbs. 141.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 156.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 135.00 to - - -

Slaughter Cows, Boners 66.00   to   74.00
Light Weight 60.00 to 67.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   82.00   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 up 47 at 12542
  Feb up 50 at 12935
Feeders: Nov up 30 at 14450
  Jan up 37 at 14587

Cattle Comment
Firm cash bids coupled with a firmer wholesale beef trade lifted the futures market today despite weakness in the U.S. stock market. Weekly export sales were a supportive factor. Negative packer margins will likely limit further firming of cash bids.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures: Dec up 10 at 8020
  Feb up 5 at 8600

Hogs Comment
Hog futures were mixed with front ends lower as a result reduced packer demand. Packer margins continue to improve and that should bode well for cash prices which are showing indications of stabilizing.



Poultry  Date: November 08, 2012

Eggs

New York:  Ex. Lg. 134-138; Lg. 132-136; Med. 113-117;
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 firm to higher for whole broiler/fryers. Offerings are light to moderate for current trade needs. Demand is moderate to instances good approaching the weekend. Market activity is moderate to active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.