Grain & Soybean Date: November 14, 2012
Soybeans
Local Elevators:
(Nov) EAST AR: 1382 to 1424
(NC) Summ. 1387 to 1426
River Elevators:
(Nov) MISS: 1449 to 1469 ; AR & White 1384
to 1435
(NC) Summ. 1389 to 1469
Ark. Processor Bids: (Nov) 1409 to 1439
(NC) 1414 to 1439
Memphis:
(Nov) 1469 to - - - (NC)
- - - to - - -
Riceland Foods:
(Nov) Stuttgart 1409 ; Pendleton
1421
(NC) Stuttgart 1245 ; Pendleton
1250
| Chicago Futures: |
Nov |
up |
5 3/4 |
at |
1432 3/4 |
| |
Jan |
up |
11 |
at |
1419 |
| |
March |
up |
13 |
at |
1398 3/4 |
| |
May |
up |
4 3/4 |
at |
1377 1/4 |
| |
July |
up |
3 1/4 |
at |
1366 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were mostly higher as the market posted a second day of gains in the front end months. Sharp equity losses tempered buying, but it appears there was some bargain hunting as investors repositioned in the market after declines of over $1.50 the last two weeks. January futures revered at old resistance points near $13.90. Inability to hold here would likely bring a test of trendline support around $13.50. 2013 November is below $13 and is looking for support in a mid-August congestion area that has a low around $12.60.
Wheat
Cash bid for November at Memphis 848 3/4 to 863 3/4;
| Bids to farmers at Local Elevators |
814-834; |
| River Elevators |
824-849; |
| Chicago Futures: |
Dec |
down |
2 1/4 |
at |
848 3/4 |
| |
March |
down |
1 3/4 |
at |
864 |
| |
May |
down |
1 3/4 |
at |
870 3/4 |
| |
July |
up |
2 3/4 |
at |
858 3/4 |
| |
Sept |
up |
3 1/4 |
at |
867 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for November at Memphis 1180 to 1189;
| Bids to farmers at River Elevators |
1100-1162; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
November at Memphis
750 3/4 to - - -; |
| |
New Crop at Memphis
599 1/2 to 604 1/2; |
| Bids to farmers at River Elevators |
709 to 750 |
| Chicago Futures: |
Dec |
up |
2 1/4 |
at |
725 3/4 |
| |
March |
up |
3 |
at |
729 1/4 |
| |
May |
up |
2 1/2 |
at |
725 |
| |
July |
up |
2 |
at |
713 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures ended mixed. New crop wheat was supported by the crop ratings report, which showed only 36% of the crop rated good to excellent. That is down from 39% just a week ago. July could work to build on support at Tuesday’s low of $8.47, but a close below that level would signal further weakness.
Corn closed mixed with old crop contracts holding gains of 2 to 3 cents with distant contracts declining the same amount. Tight supplies are being offset by poor demand. At this stage of the game traders are wary about pushing the downside. While demand is poor any potential problems in South America or here in the U.S. next spring would rekindle market fires.
Cotton & Rice Date: November 14, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 82 at
6863 |
| |
Greenwood up
82 at 6863 |
| New York Futures: |
Dec |
up |
82 |
at |
7163 |
| |
March |
up |
65 |
at |
7126 |
| | May |
up |
75 |
at |
7240 |
| | July |
up |
67 |
at |
7350 |
| | Oct |
up |
67 |
at |
7532 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton ended the day higher, but upside potential will be limited. Either demand must improve, or supplies must decline. The latter will take time as stocks are projected to exceed 80 million bales. China’s use continues to decline and they are now projected to have more cotton in storage than will be used this year.
Rice
| Long Grain Cash Bid for |
Nov |
13.25/cwt |
to |
- - - |
| |
NC |
13.94/cwt |
to |
- - - |
| Chicago Futures: |
Nov |
down |
13 1/2 |
at |
1438 |
| | Jan |
down |
13 1/2 |
at |
1465 |
| | March |
down |
13 |
at |
1496 1/2 |
| | May |
down |
14 1/2 |
at |
1524 |
| | July |
down |
12 |
at |
1544 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures continued to nose dive which took January below the early September low. Long grain demand appears good despite mid-south milling quality problems. At this point it appears it will take more rice to fill needs as a result of lower mill turnout. On the other hand the Asian markets seem to be a world apart. Thailand is struggling with big intervention stocks that while handing over the market are priced well above other origins. Vietnam and India have met vigorous demand with big sales. Logistics problems in India are now slowing trade there. South America has little old crop left but have a new crop in the ground with strong expectations for 2013.
Cattle & Hogs Date: November 14, 2012
Cattle
As reported by Federal-State Market News, receipts were 757 head
at sales in Conway & Pocahontas.
Compared with last week, feeder steers sold weak to $5 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
165.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
148.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
137.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
152.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
134.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
124.50 |
to |
- - - |
Slaughter Cows, Boners 66.00 to 73.00
Light Weight 51.00 to 58.00
Bulls, Yield Grade 1
1000 to 2000 lbs. 80.00
to 87.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
159.00 |
to |
172.00 |
| |
500 |
to |
550 lbs. |
146.00 |
to |
159.00 |
| Heifers |
450 |
to |
500 lbs. |
134.00 |
to |
146.00 |
| |
500 |
to |
550 lbs. |
135.00 |
to |
149.00 |
Chicago Futures:
| Live Cattle: |
Dec |
down |
37 |
at |
12542 |
| |
Feb |
down |
67 |
at |
12912 |
| Feeders: |
Nov |
down |
32 |
at |
14320 |
| |
Jan |
down |
127 |
at |
14487 |
Cattle Comment
Cattle futures were lower across the board. Demand concerns continue to weigh on the market. Next week’s holiday shortened schedule is impacting packer demand and bids as well.
Hogs
Peoria: were steady
at 50.00 to 52.00
| Chicago Futures: |
Dec |
down |
40 |
at |
8010 |
| |
Feb |
down |
80 |
at |
8605 |
Hogs Comment
Hog futures were also lower. Supplies remain higher than expected, but lighter carcass weights are helping keep a lid on supplies. Cash hog markets are weak, as packers needs are lighter due to the holiday.
Poultry Date: November 14, 2012
Eggs
| New York: |
Ex. Lg. 136-140; Lg. 134-138; 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 AWhole broiler/fryers are trending higher. Offerings are light. Demand is moderate to instances good for mid-week business. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.