Grain & Soybean Date: December 04, 2012
Soybeans
Local Elevators:
(Dec) EAST AR: 1429 to 1471
(NC) Summ. 1471 to - - -
River Elevators:
(Dec) MISS: 1484 to 1506 ; AR & White 1431
to 1486
(NC) Summ. 1456 to 1506
Ark. Processor Bids: (Dec) 1456 to 1476
(NC) 1476 to - - -
Memphis:
(Dec) 1505 1/2 to 1506 1/2 (NC)
1304 1/4 to - - -
Riceland Foods:
(Dec) Stuttgart 1455 ; Pendleton
1467
(NC) Stuttgart 1284 ; Pendleton
1289
| Chicago Futures: |
Jan |
up |
1 3/4 |
at |
1455 1/2 |
| |
March |
up |
2 |
at |
1450 1/4 |
| |
May |
up |
1 |
at |
1428 |
| |
July |
unchanged |
- - - |
at |
1416 3/4 |
| |
Aug |
down |
2 |
at |
1391 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans rallied late to close narrowly mixed. Mostly negative outside markets, the ongoing “fiscal cliff” fiasco and a heightening river traffic situation weighed on the market. But strong export demand and a tightening vegetable oil situation provided underlying support. These factors look to be part of an ongoing process that could get more intense in the days ahead. Weather delays in corn planting in Argentina may push some acreage to soybeans. Right not the soybean/corn price ratio is 2.05 and continues to favor corn.
Wheat
Cash bid for December at Memphis 867 1/2 to 868 1/2;
| Bids to farmers at Local Elevators |
826-841; |
| River Elevators |
831-851; |
| Chicago Futures: |
Dec |
down |
3 1/2 |
at |
838 1/2 |
| |
March |
down |
4 1/4 |
at |
856 1/2 |
| |
May |
down�� |
4 |
at |
865 1/4 |
| |
July |
down |
2 1/2 |
at |
866 1/4 |
| |
Sept |
down |
1 3/4 |
at |
874 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for December at Memphis 1226 to 1227;
| Bids to farmers at River Elevators |
1164-1209; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
December at Memphis
772 1/2 to 775; |
| |
New Crop at Memphis
631 3/4 to 633 3/4; |
| Bids to farmers at River Elevators |
758 to 785 |
| Chicago Futures: |
Dec |
down |
2 1/2 |
at |
746 1/2 |
| |
March |
down |
2 3/4 |
at |
752 |
| |
May |
down |
1 1/4 |
at |
753 |
| |
July |
up |
1 1/4 |
at |
748 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat was lower with a softer export market pressuring the trade. Continuing dry conditions across the plains was supportive and limited the overall decline. Current price levels are less than competitive which is limiting export sales.
Corn also rallied to close mixed with distant contracts higher. Continued slow export movement weighed on the market as did reports that Brazil is still active and competitive in that market. Delayed planting in Argentina was a factor in the late turn around. March futures remain a sideward trading band with resistance between $7.65 and $7.75 and support around $7.15.
Cotton & Rice Date: December 04, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 107 at
6991 |
| |
Greenwood down
107 at 6991 |
| New York Futures: |
Dec |
down |
102 |
at |
7191 |
| |
March |
down |
107 |
at |
7291 |
| | May |
down |
87 |
at |
7387 |
| | July |
down |
45 |
at |
7473 |
| | Oct |
down |
20 |
at |
7647 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was sharply lower as values rose to a level that buyers consider overpriced. With huge stocks available buyers are going to be circumspect about making purchases above 72 cents. So look for the market to jockey back and forth between the recent low of 70 cents and recent high just over 74 cents.
Rice
| Long Grain Cash Bid for |
Dec |
1431/cwt |
to |
- - - |
| |
NC |
1455/cwt |
to |
- - - |
| Chicago Futures: |
Jan |
up |
3 1/2 |
at |
1541 |
| | March |
up |
3 1/2 |
at |
1572 1/2 |
| | May |
up |
4 |
at |
1601 1/2 |
| | July |
up |
2 1/2 |
at |
1621 |
| | Sept |
up |
- - - |
at |
1555 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were mixed with January closing well off the overnight high. January came within a nickel of the 50% retracement objective of $15.59. If the market moves through this level the 62% retracement objective is $15.82. There appears to be ongoing negotiations between China and Thailand for substantial rice sales over a period of 2 to 3 years.
Cattle & Hogs Date: December 04, 2012
Cattle
As reported by Federal-State Market News, receipts were 1075 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers - - - .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
167.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
147.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
137.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
150.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
137.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
139.00 |
to |
- - - |
Slaughter Cows, Boners 68.00 to 76.00
Light Weight 54.00 to 58.50
Bulls, Yield Grade 1
1000 to 2100 lbs. 81.50
to 94.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
160.00 |
to |
165.00 |
| |
500 |
to |
550 lbs. |
152.50 |
to |
166.00 |
| Heifers |
450 |
to |
500 lbs. |
140.00 |
to |
153.00 |
| |
500 |
to |
600 lbs. |
135.00 |
to |
148.50 |
Chicago Futures:
| Live Cattle: |
Dec |
down |
87 |
at |
12612 |
| |
Feb |
down |
62 |
at |
13015 |
| Feeders: |
Jan |
down |
2 |
at |
14557 |
| |
March |
up |
5 |
at |
14827 |
Cattle Comment
Cattle were mixed with feeders ending the session slightly higher. Available supplies of market ready animals were sharply higher with show lists indicating over 40,000 more animals than last week. Packets will use this as an opportunity to reduce bids and help their negative cutout margins.
Hogs
Peoria: were steady
at 53.00 to 55.00
| Chicago Futures: |
Dec |
up |
52 |
at |
8445 |
| |
Feb |
down |
15 |
at |
8552 |
Hogs Comment
Hogs were mixed with the front end contracts higher and April forward lower. Lower slaughter weights is a positive but a rapidly declining packer margins could begin to weigh on the cash market.
Poultry Date: December 04, 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 AWhole broiler/fryers are steady. Offerings of all sizes are adequate for current trade needs. Demand is moderate for early week trading with trading usually limited to regular commitments. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.