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Daily Market Report Archive

Grain & Soybean Date: May 09, 2013

Soybeans

Local Elevators:
(May) EAST AR:  1412 to 1472
(NC) Summ. 1204 to 1227
River Elevators:
(May) MISS: 1419 to 1485 ; AR & White 1414 to 1459
(NC) Summ. 1191 to 1237
Ark. Processor Bids: (May) 1434 to 1444  (NC) 1209 to 1217
Memphis:  (May) 1493 3/4 to - - - (NC)  1237 to 1239
Riceland Foods:  (May) Stuttgart 1444 ; Pendleton 1449 
 (NC) Stuttgart 1209 ; Pendleton 1227 

Chicago Futures: May up 12 1/4 at  1491 1/4
  July  up  18  at  1408 3/4
  Aug up 10 1/2  at  1340
  Sept up 7 1/4  at  1264 1/4
  Nov up 4 3/4  at  1219
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were higher across the board with old crop contracts posting double digit gains. Gains were registered despite a stronger dollar. Not export sales were almost double market expectations. Another big sale of 110,000 metric tonnes was notched today’s daily report. A slightly smaller Brazilians crop estimate also was supportive. July climbed also was supportive. July climbed above $14 and remains within a sideways pattern between $14.25 and $13.40. November remains in a 4 month downtrend with resistance around $12.25. Support is the recent low of $11.86. A close outside this range would suggest further movement in the direction of the breakout.

Wheat
Cash bid for May at Memphis  736 1/2 to 743 1/2;

Bids to farmers at Local Elevators 694-704;
River Elevators 700-740;

Chicago Futures: May up  19 1/2  at  716 1/4 
  July up 17 1/2  at  723 1/2 
  Sept up  16 1/4  at  731 1/2 
  Dec up  15 1/2  at  748 1/4 
  March up  15 1/2  at  763 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1087 to 1158;

Bids to farmers at River Elevators 1007-1042;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   690 3/4 to 698 3/4;
  New Crop at Memphis   546 to 556;
Bids to farmers at River Elevators  654 to 687

Chicago Futures: May up  19 1/2  at  694 1/2 
  July up  15 3/4  at  648 3/4 
  Sept up  12 1/4  at  566 
  Dec up  9 1/2  at  541 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted solid gains today. Weekly export reports were a mixed bag, with old crop sales exceeding expectations but new crop sales were a little disappointing. Looking at the charts, July was up sharply, completely closing the gap that was left on the way down Monday. Resistance begins between $7.35 and $7.36, though.

Corn like beans was higher across the across the board with old crop contracts making double digit gains. Old crop corn exports were barely a third of the previous week and well below expectations. Obviously, this didn’t impact futures as traders pushed old crop higher on tightening availability of 2012 supplies and a slow start to the 2013 crop. December is holding in last week’s extended trading range of $5.70 to $5.17.



Cotton & Rice  Date: May 09, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 24 at  8492
  Greenwood up  24 at 8492

New York Futures: July up  24  at  8792 
  Oct up  28  at  8744 
 Dec up  24  at  8701 
 March up  24  at  8696 
 May up  21  at  8680 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued to inch higher posting modest gains which left December just under 87 cents. The slow pace of planting for 2013 is keeping the trade antsy. December futures broke a short term downtrend yesterday and posted a second close above that point which generally suggests further gains or in the case a move toward the recent high 89.2 cents.

Rice

Long Grain Cash Bid for  May - - -  to  - - -
  NC 1442/cwt  to  - - -

Chicago Futures: May up  21  at  1528 1/2 
 July up  11  at  1534 
 Sept up  8 1/2  at  1521 1/2 
 Nov up  8 1/2  at  1537 1/2 
 Jan up  at  1555 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures ended higher on limited trade activity. U.S. export demand remains good with Texas and Louisiana mills seeking supplies from outside sources. Columbia, Haiti, and Iran have all been buyers of U.S. rice and keeping mills schedule well into June. Asian rice offerings are plentiful with the general market undertone working lower amid concerns about huge Thai intervention stocks.



Cattle & Hogs  Date: May 09, 2013

Cattle
As reported by Federal-State Market News, receipts were 1507 head at sales in Charlotte, Ratcliff & Green Forest.  Compared with last week, feeder steers sold mostly steady to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 161.50 to - - -
  500 to 550 lbs. 154.75 to - - -
  600 to 650 lbs. 141.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 149.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 139.25 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 134.00 to - - -

Slaughter Cows, Boners 72.50   to   80.00
Light Weight 62.00 to 69.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   87.50   to   98.50
Midwest Steers   were   at   126.00   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 450 lbs. 162.00 to 176.00
  500 to 550 lbs. 152.00 to 170.00
Heifers 450 to 500 lbs. 140.00 to 147.50
  500 to 600 lbs. 133.50 to 145.00

Chicago Futures:
Live Cattle: June up 35 at 12055
  Aug up 52 at 12052
Feeders: May up 15 at 13575
  Aug up 65 at 14597

Cattle Comment
Cattle futures ended a bit higher. 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 few sessions, and June could revisit the contract low of $119.37. August feeders are so far holding at support between $144.50 and $145.07.

Hogs
Peoria: were $1 lower to $3     higher   at   59.00   to   61.00

Chicago Futures: May up 17 at 9200
  June down 120 at 9057

Hogs Comment
Hogs posted losses today. Futures premium to cash is limiting the upside potential of the market, but tight supplies of market ready hogs should provide some underlying support.



Poultry  Date: May 09, 2013

Eggs

New York:  Ex. Lg. 120-124; Lg. 118-122; Med. 102-106;
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