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Daily Market Report Archive

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:

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:

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:

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  at  729 1/4 
  May up  2 1/2  at  725 
  July up  at  713 1/2 
  Today's Arkansas LDP rate for corn is:

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 
medium grain rice is 
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 A
Whole 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.