Grain & Soybean Date: December 10, 2012
REMINDER: December Supply/Demand Report Webinar tomorrow (Tues., Dec 11, 2012) at 8:30 a.m.
To participate in the Webinar click on the link and follow the instructions:
www.tinyurl.com/arfbwebex
For more information call Matt King 501-519-4297
Soybeans
Local Elevators:
(Dec) EAST AR: 1448 to 1487
(NC) Summ. 1485 to - - -
River Elevators:
(Dec) MISS: 1495 to 1525 ; AR & White 1449
to 1493
(NC) Summ. 1470 to 1526
Ark. Processor Bids: (Dec) 1475 to 1495
(NC) 1495 to - - -
Memphis:
(Dec) 1512 3/4 to 1519 3/4 (NC)
1324 1/2 to - - -
Riceland Foods:
(Dec) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
Jan |
up |
2 1/2 |
at |
1474 3/4 |
| |
March |
up |
3 1/2 |
at |
1475 1/2 |
| |
May |
up |
9 1/2 |
at |
1462 3/4 |
| |
July |
up |
10 |
at |
1451 1/2 |
| |
Aug |
up |
10 3/4 |
at |
1424 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans retraced early losses to close with gains. The rebound was spurred by strong Chinese demand and a positive export report. Initial weakness came from improving South American weather and economic concerns including the fiscal cliff situation in Washington. This has created a negative situation which led to technical selling by funds and other investors. Soybeans ended the day on a strong note while corn and wheat were lower. Old crop January found support just above $14.50, and area that was resistance early last week.
Wheat
Cash bid for December at Memphis 843 3/4 to - - -;
| Bids to farmers at Local Elevators |
827-842; |
| River Elevators |
824-852; |
| Chicago Futures: |
Dec |
down |
11 1/2 |
at |
832 3/4 |
| |
March |
down |
12 1/4 |
at |
848 3/4 |
| |
May |
down |
10 |
at |
860 1/4 |
| |
July |
down |
7 |
at |
866 3/4 |
| |
Sept |
down |
6 1/4 |
at |
876 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for December at Memphis 1173 to 1182;
| Bids to farmers at River Elevators |
1119-1164; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
December at Memphis
730 3/4 to 734 3/4; |
| |
New Crop at Memphis
615 1/2 to 625 1/2; |
| Bids to farmers at River Elevators |
718 to 742 |
| Chicago Futures: |
Dec |
down |
6 |
at |
726 3/4 |
| |
March |
down |
7 1/4 |
at |
730 |
| |
May |
down |
7 |
at |
732 1/4 |
| |
July |
down |
4 1/2 |
at |
731 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat closed lower despite weekend reports of Saudi Arabia making purchases from several sources including the U.S. Worsening crop conditions in the Plains also failed to stimulate the market. It appears wheat will need to see substantially more export demand to sustain current price levels.
Corn export inspections were below last week, and lower than anticipated. Coupled with technical selling it pushed old crop contracts toward recent support, between $7.08 and $7.15. A close below this area would signal additional downside pressure.
Cotton & Rice Date: December 10, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis unchanged - - - at
7015 |
| |
Greenwood unchanged
- - - at 7015 |
| New York Futures: |
March |
down |
39 |
at |
7340 |
| |
May |
down |
35 |
at |
7435 |
| | July |
down |
26 |
at |
7526 |
| | Oct |
down |
45 |
at |
7624 |
| | Dec |
down |
34 |
at |
7727 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton couldn’t sustain upward momentum of last week and closed slightly lower for the day. The long term outlook for cotton remains somewhat grim with huge world stocks and poor demand weighing on the market.
Rice
| Long Grain Cash Bid for |
Dec |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
Jan |
up |
18 1/2 |
at |
1545 |
| | March |
up |
18 1/2 |
at |
1576 1/2 |
| | May |
up |
18 1/2 |
at |
1609 1/2 |
| | July |
up |
18 1/2 |
at |
1625 |
| | Sept |
up |
16 |
at |
1566 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures made a strong rebound after taking a dive late last week. Resistance near $15.60 could give way to a move toward the 62% retracement objective of $15.82. River conditions have raised concern about potential rough rice exports and the possible market impact. Reports out of South America suggest acreage cuts are only about half earlier estimates of 10 to 15%.
Cattle & Hogs Date: December 10, 2012
Cattle
As reported by Federal-State Market News, receipts were 1066 head
at sales in Springdale & Ola.
Compared with last week, feeder steers sold firm to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
190.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
163.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
142.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
173.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
133.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
136.00 |
to |
- - - |
Slaughter Cows, Boners 68.00 to 74.00
Light Weight 57.00 to 65.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 83.00
to 90.50
Midwest Steers were at 123.00
to 125.00
Panhandle Steers were at 124.00
to 124.00
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
160.00 |
to |
169.00 |
| |
500 |
to |
550 lbs. |
159.00 |
to |
164.00 |
| Heifers |
450 |
to |
500 lbs. |
142.00 |
to |
154.00 |
| |
500 |
to |
600 lbs. |
134.00 |
to |
141.50 |
Chicago Futures:
| Live Cattle: |
Dec |
down |
27 |
at |
12560 |
| |
Feb |
down |
12 |
at |
13027 |
| Feeders: |
Jan |
up |
100 |
at |
14977 |
| |
Nov |
up |
105 |
at |
15220 |
Cattle Comment
Cattle futures were mixed with feeders drawing substantial buying support, from tightening supplies and potentially lower corn futures. Further weakness in wholesale beef weighed on live cattle as did negative packer margins. Russia’s decision to require pork and beef imports be certified free of ractopamine residues. Since the U.S. has not testing program this will shut off exports to Russia.
Hogs
Peoria: were steady
at 52.00 to 54.00
| Chicago Futures: |
Dec |
down |
15 |
at |
8215 |
| |
Feb |
up |
45 |
at |
8392 |
Hogs Comment
Hog futures were mostly higher as trader’s pattern of rising values. However, negative operating margins limited upside potential, as did more than adequate supplies or market ready animals.
Poultry Date: December 10, 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 |
99.97 |
| Toms: |
16-24 lbs |
99.98 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryers prices are steady to weak. Offerings of all sizes are readily available for current trade needs. Demand into retail and food service channels is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.