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 |
5 |
at |
1456 |
| |
July |
down |
4 1/2 |
at |
1441 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
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 |
6 |
at |
904 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
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: |
0¢ |
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 |
3 |
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: |
0¢ |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 APrices 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.