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Daily Market Report Archive

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  at  1408
  March down 2 1/4  at  1385 3/4
  May down at  1372 1/2
  July down 5 1/2  at  1363
  Today's Arkansas LDP rate for soybeans is:

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  at  864 1/4 
  Today's Arkansas LDP rate for wheat is:

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:

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  at  726 1/4 
  May up  at  722 1/2 
  July up  1 1/4  at  711 1/2 
  Today's Arkansas LDP rate for corn is:

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  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 
medium grain rice is 
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 A
Prices 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.