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Daily Market Report Archive

Grain & Soybean Date: December 03, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1427 to 1469
(NC) Summ. 1469 to - - -
River Elevators:
(Dec) MISS: 1484 to 1504 ; AR & White 1429 to 1433
(NC) Summ. 1454 to 1504
Ark. Processor Bids: (Dec) 1454 to 1474  (NC) 1474 to - - -
Memphis:  (Dec) 1503 3/4 to 1504 3/4 (NC)  1307 1/4 to - - -
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Jan up 15 at  1453 3/4
  March  up  15 3/4  at  1448 1/4
  May up 17 1/4  at  1427
  July up 16 1/4  at  1416 3/4
  Aug up 15 3/4  at  1392
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans firmed again today with strong demand for palm oil providing a boost. Chinese orders for the first quarter of 2013 are another reason to be optimistic about the soybean market. Too much moisture in some parts of the growing area of Argentina was seen as a positive for soybeans today. From the technical side the January contract has encountered resistance just above $14.60 for the second time in recent days. Above that there is little resistance before reaching $14.86 to $15. November 2013 reached last month’s breakout level at $13.20. The soybean/corn price ratio remains favorable to corn at 2.06.

Wheat
Cash bid for December at Memphis  870 to 872 3/4;

Bids to farmers at Local Elevators 829-844;
River Elevators 834-854;

Chicago Futures: Dec down  2 3/4  at  842 
  March down 2 3/4  at  860 3/4 
  May down  2 3/4  at  869 1/4 
  July down  1 3/4  at  868 3/4 
  Sept down  2 1/4  at  876 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1230 to 1232;

Bids to farmers at River Elevators 1159-1221;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for December at Memphis   774 to 777 3/4;
  New Crop at Memphis   629 3/4 to 631 3/4;
Bids to farmers at River Elevators  753 to 779

Chicago Futures: Dec up  at  749 
  March up  at  754 3/4 
  May up  2 1/4  at  754 1/4 
  July up  2 3/4  at  747 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Corn closed marginally higher despite continued strong export competition from Brazil. A supposedly dwindling supply seems to be still available as heavy sales were registered during November and are expected to continue through January 2013. Old crop December futures have hit resistance at 7.60 with additional resistance at $7.75. December 2013 is at the top of a trading band that has persisted since September.

July 2013 wheat reversed early gains and closed lower after hitting resistance around 8.90 late last week. The turnaround came despite increased import interest from Egypt and persistently worsening crop conditions in the Plains region of the U.S.



Cotton & Rice  Date: December 03, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 7 at  70.98
  Greenwood up  7 at 70.98

New York Futures: Dec up  28  at  7293 
  March up  at  7398 
 May up  23  at  7474 
 July up  26  at  7518 
 Oct up  18  at  7667 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was narrowly mixed after developing a firm undertone late last week. March futures topped out above 74 cents and could work toward the mid October high above 76 cents. Any additional upward movement would need renewed export demand, which doesn’t appear likely at this point. It will take a significant reduction in world plantings to start correcting the supply situation.

Rice

Long Grain Cash Bid for  Nov - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Jan up  10 1/2  at  1537 1/2 
 March up  10 1/2  at  1569 
 May up  10 1/2  at  1597 1/2 
 July up  15 1/2  at  1618 1/2 
 Sept up  2 1/2  at  1555 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures continued the upward move that began about 2 weeks ago. January has resistance between $15.48 and %15.55, which could be a difficult point for the market to overcome.



Cattle & Hogs  Date: December 03, 2012

Cattle
As reported by Federal-State Market News, receipts were 1874 head at sales in Springdale & Ola.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 175.00 to - - -
  500 to 550 lbs. 157.50 to - - -
  600 to 650 lbs. 138.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 165.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 135.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 140.00 to - - -

Slaughter Cows, Boners 69.00   to   77.00
Light Weight 57.00 to 65.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   84.00   to   92.00
Midwest Steers   were   at   123.00   to   125.00
Panhandle Steers   were   at   124.00   to   128.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 160.00 to 162.00
  500 to 550 lbs. 152.50 to 163.00
Heifers 450 to 500 lbs. 140.00 to 143.50
  500 to 550 lbs. 135.00 to 142.25

Chicago Futures:
Live Cattle: Dec up 27 at 12700
  Feb up 37 at 13077
Feeders: Jan down 2 at 14560
  March down 20 at 14822

Cattle Comment
Cattle futures firmed in late trading as the February contract bounced off trendline support at $130. Overall supply side fundamentals are strong. Feedlot numbers continue to tighten relative to a year ago, at the same time economic uncertainties are limiting upside potential.

Hogs
Peoria: were $1 higher to $3     lower   at   53.00   to   55.00

Chicago Futures: Dec down 15 at 8392
  Feb down 125 at 8567

Hogs Comment
Hog futures were mostly lower as the market encountered selling pressure just below recent highs near $88. This is a critical area that has been resistance in the past and it would be a negative signal if February falls back below this level.



Poultry  Date: December 03, 2012

Eggs

New York:  Ex. Lg. 138-142; Lg. 136-140; Med. 111-115;
Chicago:  Ex. Lg. 131-139; Lg. 129-137; Med. 104-112;

National Turkeys
Hens: 8-16 lbs 108.34
Toms: 16-24 lbs 109.80
 

Delmarva Broilers
U.S. Grade A
Prices are trending steady for whole broiler/fryers. Offerings are moderate for current trade needs. Demand into retail food service channels is moderate entering the week. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.