Grain & Soybean Date: November 13, 2012
Soybeans
Local Elevators:
(Nov) EAST AR: 1371 to 1410
(NC) Summ. 1376 to 1415
River Elevators:
(Nov) MISS: 1431 to 1458 ; AR & White 1373
to 1424
(NC) Summ. 1373 to 1458
Ark. Processor Bids: (Nov) 1398 to 1428
(NC) 1403 to 1428
Memphis:
(Nov) 1458 to - - - (NC)
- - - to - - -
Riceland Foods:
(Nov) Stuttgart 1398 ; Pendleton
1410
(NC) Stuttgart 1252 ; Pendleton
1257
| Chicago Futures: |
Nov |
up |
16 |
at |
1427 |
| |
Jan |
up |
3 |
at |
1408 |
| |
March |
down |
2 1/4 |
at |
1385 3/4 |
| |
May |
down |
3 |
at |
1372 1/2 |
| |
July |
down |
5 1/2 |
at |
1363 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans ended mixed with nearby contracts recovering some of yesterday’s big losses. Deferred contracts were under pressure again today. Much of the selling appeared to be technical in nature as chart support was breeched late last week.. January futures are now testing support 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 has fallen below $13 and has additional support in the $12.70 to $12.25 area.
Wheat
Cash bid for November at Memphis 851 to 866;
| Bids to farmers at Local Elevators |
811-831; |
| River Elevators |
821-846; |
| Chicago Futures: |
Dec |
down |
6 3/4 |
at |
851 |
| |
March |
down |
6 3/4 |
at |
865 3/4 |
| |
May |
down |
6 3/4 |
at |
872 1/2 |
| |
July |
down |
4 1/2 |
at |
856 |
| |
Sept |
down |
5 |
at |
864 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for November at Memphis 1176 to 1185;
| Bids to farmers at River Elevators |
1078-1158; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
November at Memphis
748 1/2 to - - -; |
| |
New Crop at Memphis
602 1/2 to 607 1/2; |
| Bids to farmers at River Elevators |
704 to 744 |
| Chicago Futures: |
Dec |
up |
5 1/2 |
at |
723 1/2 |
| |
March |
up |
4 |
at |
726 1/4 |
| |
May |
up |
3 |
at |
722 1/2 |
| |
July |
up |
1 1/4 |
at |
711 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures continued to move lower today and the 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, and a retest of that support now looks likely.
Corn ended mixed. December broke out of a very tight 6 week trading range and closed just above key support at $7.05. Today price action showed that support to be firm for now, but a close below that level would send December toward the bottom of the early June breakaway gap at $6.60. New crop December has support at $6.00, then $5.89.
Cotton & Rice Date: November 13, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 173 at
6781 |
| |
Greenwood up
173 at 6781 |
| New York Futures: |
Dec |
down |
7 |
at |
7081 |
| |
March |
down |
59 |
at |
7061 |
| | May |
down |
75 |
at |
7165 |
| | July |
down |
76 |
at |
7283 |
| | Oct |
down |
76 |
at |
7465 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton couldn’t overcome the negativity in commodities two days in a row, and turned lower today. Demand concerns continue to plague the market. There is no indication 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 |
1339/cwt |
to |
- - - |
| |
NC |
1406/cwt |
to |
- - - |
| Chicago Futures: |
Nov |
down |
11 |
at |
1451 1/2 |
| | Jan |
down |
12 1/2 |
at |
1478 1/2 |
| | March |
down |
13 1/2 |
at |
1509 1/2 |
| | May |
down |
13 1/2 |
at |
1538 1/2 |
| | July |
down |
14 1/2 |
at |
1556 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice fell victim to the overall weakness in soybeans and grains and violated support at the early September low. That opens the door to further losses from a technical perspective. 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 13, 2012
Cattle
As reported by Federal-State Market News, receipts were 2790 head
at sales in Ft. Smith, Heber Springs, Springdale, Ash Flat & Ola.
Compared with last week, feeder steers sold unevenly .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
172.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
153.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
137.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
158.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
134.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
135.50 |
to |
- - - |
Slaughter Cows, Boners 67.00 to 73.00
Light Weight 58.00 to 64.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 82.50
to 90.50
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
172.00 |
to |
185.00 |
| |
500 |
to |
550 lbs. |
157.50 |
to |
169.00 |
| Heifers |
450 |
to |
500 lbs. |
144.00 |
to |
152.50 |
| |
500 |
to |
550 lbs. |
137.00 |
to |
143.00 |
Chicago Futures:
| Live Cattle: |
Dec |
up |
45 |
at |
12580 |
| |
Feb |
up |
45 |
at |
12980 |
| Feeders: |
Nov |
down |
47 |
at |
14352 |
| |
Jan |
up |
20 |
at |
14615 |
Cattle Comment
Cattle futures ended mostly higher. Lower corn prices were supportive for feeders. Live cattle prices were higher as well, but the upside will be limited by negative packer margins.
Hogs
Peoria: were steady
at 50.00 to 52.00
| Chicago Futures: |
Dec |
up |
17 |
at |
8050 |
| |
Feb |
up |
57 |
at |
8685 |
Hogs Comment
Hog futures were higher as well. Supplies remain higher than expected, but lighter carcass weights are helping keep a lid on supplies. Futures’ discount to cash prices was supportive.
Poultry Date: November 13, 2012
Eggs
| New York: |
Ex. Lg. 134-138; Lg. 132-136; Med. 113-117; |
| Chicago: |
Ex. Lg. 127-135; Lg. 125-133; Med. 106-114; |
National Turkeys
| Hens: |
8-16 lbs |
110.04 |
| Toms: |
16-24 lbs |
111.37 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices are trending higher for whole broiler/fryers. Offerings are light and clearing well for current trade needs. Demand into retail and food service channels is moderate to good following the weekend. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.