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Daily Market Report Archive

Grain & Soybean Date: November 15, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1375 to 1414
(NC) Summ. 1372 to 1411
River Elevators:
(Nov) MISS: 1435 to 1452 ; AR & White 1372 to 1418
(NC) Summ. 1374 to 1452
Ark. Processor Bids: (Nov) 1402 to 1422  (NC) 1399 to 1422
Memphis:  (Nov) 1449 to 1450 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1402 ; Pendleton 1414 
 (NC) Stuttgart 1241 ; Pendleton 1246 

Chicago Futures: Jan down 17 at  1402
  March  down  14 3/4  at  1384
  May down 15  at  1362 1/4
  July down 11 3/4  at  1354 1/2
  Aug down 9 1/2  at  1331
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were lower today pressured by outside markers and economic news. Good weather in South America continues to be a negative factor for the market. Argentina projected an almost 4% increase in plantings about 48 million acres. Some private forecasts are higher. Technically, January soybeans are just above $14 with key support just a dime or so lower. Inability to hold here could see the market move toward the early June low near $12.60.

Wheat
Cash bid for November at Memphis  855 1/2 to 860 1/2;

Bids to farmers at Local Elevators 809-829;
River Elevators 819-844;

Chicago Futures: Dec down  3 1/4  at  845 1/2 
  March down 2 3/4  at  861 1/4 
  May down  at  867 3/4 
  July down  4 1/4  at  854 1/2 
  Sept down  5 1/4  at  862 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1172 to 1181;

Bids to farmers at River Elevators 1091-1154;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for November at Memphis   755 1/4 to 756 1/4;
  New Crop at Memphis   597 1/4 to 602 1/4;
Bids to farmers at River Elevators  714 to 746

Chicago Futures: Dec down  4 1/2  at  721 1/4 
  March down  4 1/4  at  725 
  May down  4 3/4  at  720 1/4 
  July down  4 3/4  at  708 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
The price action in wheat turned negative today. Pressure from outside markets carried over into wheat, with lower crude oil and stock markets impacting prices. Deteriorating crop conditions, though, could keep a floor under prices. July is working to build on support at Tuesday’s low of $8.47, but a close below that level would signal further weakness, possibly a retest of support near $8.25.

Corn declined slightly with old crop contracts generally trading above 7.00. December continues to have long term support at $7.05. There is talk of improving export demand as South American supplies dwindle and price there continues to rise. Gulf basis levels firmed again today as exporters attempt to entice corn down the Mississippi.



Cotton & Rice  Date: November 15, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 233 at  7096
  Greenwood up  233 at 7096

New York Futures: Dec up  233  at  7396 
  March up  98  at  7224 
 May up  72  at  7312 
 July up  60  at  7410 
 Oct up  60  at  7592 
This week's LDP rate for cotton is  cents
  The estimate for next week is  cents
Cotton Comment
Cotton firmed again today as the market attempts to retrace a portion of recent declines. Overall upside potential will be limited by demand and huge world stocks.

Rice

Long Grain Cash Bid for  Nov 1347/cwt  to  - - -
  NC 1415/cwt  to  - - -

Chicago Futures: Jan up  21 1/2  at  1486 1/2 
 March up  22  at  1518 1/2 
 May up  22 1/2  at  1546 1/2 
 July up  21  at  1565 
 Sept up  21  at  1514 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures rallied back to the previous support level at $14.86. Demand for U.S. rice remains good despite milling quality problems. The international market ranges to major extremes. Thai interventions are being held at artificially high levels which are limiting sales. At the same time business in Vietnam and India has been brisk. Logistics problems are weighing on the market in India and that is likely to curtail sales. In the U.S. rice plantings are expected to decline as corn and soybean price levels pull acreage.



Cattle & Hogs  Date: November 15, 2012

Cattle
As reported by Federal-State Market News, receipts were 1746 head at sales in Charlotte, Ratcliff, & Green Forest.  Compared with last week, feeder steers sold mostly weak to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 170.00 to - - -
  500 to 550 lbs. 156.00 to - - -
  600 to 650 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 157.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 132.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 130.50 to - - -

Slaughter Cows, Boners 66.00   to   73.00
Light Weight 58.00 to 66.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   83.00   to   90.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

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

Chicago Futures:
Live Cattle: Dec up 17 at 12560
  Feb up 25 at 12937
Feeders: Nov up 20 at 14340
  Jan up 27 at 14515

Cattle Comment
Cattle futures ended mostly higher. Demand concerns continue to weigh on the market, but expectations for USDA to report smaller October placements were supportive. 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 2 at 8007
  Feb up 10 at 8615

Hogs Comment
Hog futures were mixed. 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 15, 2012

Eggs

New York:  Ex. Lg. 138-142; Lg. 136-140; Med. 111-115;
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.