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Daily Market Report Archive

Grain & Soybean Date: November 12, 2012

Due to the observance of Veterans Day, our report will have limited pricing.

Soybeans

Local Elevators:
(Nov) EAST AR:  - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(Nov) MISS: - - - to - - - ; AR & White - - - to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (Nov) - - - to - - -  (NC) - - - to - - -
Memphis:  (Nov) - - - to - - - (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1395 ; Pendleton 1407 
 (NC) Stuttgart 1256 ; Pendleton 1261 

Chicago Futures: Nov down 41 at  1411
  Jan  down  46 1/4  at  1405
  March down 48 1/2  at  1388
  May down 43 3/4  at  1375 1/2
  July down 39 1/2  at  1368 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans saw an accelerated selloff today with losses exceeding 30 to 40 cents. Much of the selling appeared to be technical in nature as chart support was breeched late last week. The Veteran’s day holiday left the market with little fresh fundamental news, as export and crop progress reports were delayed until tomorrow. Concern about economic conditions in Greece, Germany and France contributed to a stronger dollar. January futures fell near $14. Inability to hold support in this general area would set the market up for a possible move to the early June low near $12.50. New crop November fell below $13 and has additional support in the $12.70 to $12.25 area.

Wheat
Cash bid for November at Memphis  - - - to - - -;

Bids to farmers at Local Elevators - - -;
River Elevators - - -;

Chicago Futures: Dec down  28 3/4  at  857 3/4 
  March down 29   at  872 1/2 
  May down  28 3/4  at  879 
  July down  28  at  860 1/2 
  Sept down  28 1/4  at  869 1/4 
  Today's Arkansas LDP rate for wheat is:

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

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

Corn

Cash bid for November at Memphis   - - - to - - -;
  New Crop at Memphis   - - - to - - -;
Bids to farmers at River Elevators  - - - to - - -

Chicago Futures: Dec down  20 3/4  at  718 
  March down  19 3/4  at  722 1/4 
  May down  19 1/4  at  719 1/2 
  July down  18 3/4  at  710 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted huge losses and now the price charts have taken on a bearish appearance. July has broken out of the short-term uptrend that was building on support at $8.24-$8.25. Today’s sharp losses make a retest of that support look likely. The weekly crop progress report will be delayed until tomorrow due to the Veterans’ Day holiday, but is expected to show further deterioration of the crop as cold temperatures could have damaged the crop that is just emerging.

Corn started the day about steady but quickly followed soybeans and wheat to the downside. December broke out of a very tight 6 week trading range and closed just above key support at $7.05. Inability to hold here sends December toward the bottom of the early June breakaway gap at $6.60. Rebounds following this decline should be viewed as selling opportunities. New crop December has support at $6.00, then $5.89.



Cotton & Rice  Date: November 12, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis  - - - at  - - -
  Greenwood   - - - at - - -

New York Futures: Dec up  13  at  7088 
  March up  76  at  7120 
 May up  68  at  7240 
 July up  78  at  7359 
 Oct up  89  at  7541 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was the only crop to show any positive numbers today. That is probably related to reports suggesting that China has weathered their economic storm. It doesn’t, however, suggest China will increase their cotton use and long term that is a major factor in what happens in the cotton market.

Rice

Long Grain Cash Bid for  Nov 1351/cwt  to  - - -
  NC 1420/cwt  to  - - -

Chicago Futures: Nov down  31 1/2  at  1462 1/2 
 Jan down  31 1/2  at  1491 
 March down  30 1/2  at  1523 
 May down  30  at  1552 
 July down  28 1/2  at  1570 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice fell victim to the overall weakness in soybeans and grains and fell within a nickel of the early September low. A lack of fresh fundamental news left the market with little direction other than technical. Long term fundamentals suggesting a tightening of stocks, and a strong probability that U.S. 2012 plantings will decline should provide some upward momentum in the future.



Cattle & Hogs  Date: November 12, 2012

Cattle
As reported by Federal-State Market News, receipts were - - - head at sales in - - -.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners - - -   to   - - -
Light Weight - - - to - - -
Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were   at   124.00   to   125.00
Panhandle Steers   were   at   125.00   to   126.00

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: Dec down 40 at 12535
  Feb steady - - - at 12935
Feeders: Nov down 20 at 14400
  Jan up 35 at 14595

Cattle Comment
Cattle futures were mixed. Live futures were under pressure from negative packer margins and negative action in outside markets. Lower corn prices were supportive for feeders, however.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures: Dec down 42 at 8032
  Feb down 5 at 8627

Hogs Comment
Hog futures ended lower. Supplies remain higher than expected, but lighter carcass weights are helping keep a lid on supplies. Weakness in outside markets added to the negative undertone today.



Poultry  Date: November 12, 2012

Eggs

New York:  Ex. Lg. - - - ; Lg. - - -; Med. - - -;
Chicago:  Ex. Lg. - - -; Lg. - - -; Med. - - -;

National Turkeys
Hens: 8-16 lbs - - -
Toms: 16-24 lbs - - -
 

Delmarva Broilers
U.S. Grade A