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Daily Market Report Archive

Grain & Soybean Date: May 07, 2013

Soybeans

Local Elevators:
(May) EAST AR:  1385 to 1445
(NC) Summ. 1200 to 1223
River Elevators:
(May) MISS: 1392 to 1458 ; AR & White 1387 to 1432
(NC) Summ. 1190 to 1236
Ark. Processor Bids: (May) 1407 to 1417  (NC) 1205 to 1213
Memphis:  (May) 1456 1/4 to 1457 1/4 (NC)  1232 1/2 to -
Riceland Foods:  (May) Stuttgart 1417 ; Pendleton 1422 
 (NC) Stuttgart 1205 ; Pendleton 1223 

Chicago Futures: May up 19 at  1463 1/2
  July  up  13  at  1382 1/4
  Aug up 12 1/2  at  1329 1/2
  Sept up 8 3/4  at  1258 1/2
  Nov up 7 1/4  at  1214 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans recovered a great deal of what was lost in yesterday’s trade. Improving weather forecasts have traders expecting to see rapid planting progress made this week, meaning that it is possible farmers will get acres seeded to corn, switching fewer acres to soybeans. Looking at old crop supplies, strong basis levels and higher futures are aimed at tight holders. November has support at $12, with resistance at $12.40.

Wheat
Cash bid for May at Memphis  722  to 729;

Bids to farmers at Local Elevators 679-689;
River Elevators 685-725;

Chicago Futures: May up  6 1/2  at  699 1/2 
  July up 6 1/4  at  709 
  Sept up  6 1/4  at  718 3/4 
  Dec up  at  735 3/4 
  March up  7 1/2  at  750 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  722 to 729;

Bids to farmers at River Elevators 991-1027;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   681 to 690;
  New Crop at Memphis   541 1/2 to - - -;
Bids to farmers at River Elevators  645 to 678

Chicago Futures: May down  2 1/4  at  676 1/2 
  July up  3 1/2  at  640 
  Sept up  1 3/4  at  561 1/2 
  Dec up  at  539 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were also higher, but did not move into the gap left yesterday on the way down. 39% of the winter wheat crop nationwide is now rated poor to very poor. The soft red winter crop is average, at best, but faring better than the hard red crop at this point. July held on to support at $7, but a close below that would suggest a retest of support around $6.87.

Corn regained a small portion of yesterday’s losses. Better weather forecasts this week have traders expecting rapid planting progress. Farmers are holding tight to old crop supplies, and corn is being imported from South America by poultry companies to meet current needs. December futures have found support at $5.32. Failure to hold there would suggest a retest of the recent low of $5.17.



Cotton & Rice  Date: May 07, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 24 at  8415
  Greenwood down  24 at 8415

New York Futures: May up  70  at  8601 
  July down  24  at  8715 
 Oct up  12  at  8639 
 Dec up  at  8597 
 March up  18  at  8577 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton turned higher today. Improving weather should help get the crop in the ground. The crop is behind schedule, with only 17% of the crop in the ground. Arkansas farmers are reportedly 26% complete, compared with a 5 year average of 32%. December will need to close above 87 cents to extend the upturn.

Rice

Long Grain Cash Bid for  May - - -  to  - - -
  NC 1445/cwt  to  - - -

Chicago Futures: May down  6 1/2  at  1525 
 July down  11 1/2  at  1539 1/2 
 Sept down  9 1/2  at  1525 
 Nov down  9 1/2  at  1540 1/2 
 Jan down  9 1/2  at  1559 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were mixed. Arkansas farmers have reportedly planted 48% of projected acres. The 5 year average is 72%, but warmer, drier weather could help farmers catch up this week. September gapped higher yesterday but failed at trendline resistance near $15.38.



Cattle & Hogs  Date: May 07, 2013

Cattle
As reported by Federal-State Market News, receipts were 609 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold steady to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 163.00 to - - -
  500 to 550 lbs. 157.00 to - - -
  600 to 650 lbs. 140.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 153.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 150.00 to - - -

Slaughter Cows, Boners 73.00   to   79.00
Light Weight 71.00 to 77.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   89.00   to   99.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 600 lbs. 152.50 to 169.00
  600 to 650 lbs. 131.00 to 147.00
Heifers 400 to 500 lbs. 144.25 to 154.00
  500 to 550 lbs. 137.00 to 142.00

Chicago Futures:
Live Cattle: June down 47 at 12082
  Aug down 30 at 12105
Feeders: May down 152 at 13687
  Aug down 90 at 14655

Cattle Comment
Cattle futures were lower across the board again today. Live cattle were under pressure from weaker beef prices and larger market-ready supplies. The charts have taken on a bearish appearance over the past three sessions, and June could retest support below $119.50.

Hogs
Peoria: were     steady   at   56.00   to   58.00

Chicago Futures: May up 40 at 9145
  June down 2 at 9130

Hogs Comment
Hogs were higher across the board, but traded in a narrow range. Tight hog supplies are generally supportive, but futures’ premium to cash will limit the upside.



Poultry  Date: May 07, 2013

Eggs

New York:  Ex. Lg. 111-115; Lg. 109-113; Med. 97-101;
Chicago:  Ex. Lg. 95-103; Lg. 93-101; Med. 83-91;

National Turkeys
Hens: 8-16 lbs 96.46
Toms: 16-24 lbs 96.56
 

Delmarva Broilers
U.S. Grade A
N/A