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Daily Market Report Archive

Grain & Soybean Date: May 13, 2013

Soybeans

Local Elevators:
(May) EAST AR:  1422 to 1482
(NC) Summ. 1195 to 1218
River Elevators:
(May) MISS: 1434 to 1503 ; AR & White 1424 to 1469
(NC) Summ. 1182 to 1228
Ark. Processor Bids: (May) 1444 to 1454  (NC) 1200 to 1208
Memphis:  (May) 1503 1/4 to 1509 1/4 (NC)  1229 3/4 to - - -
Riceland Foods:  (May) Stuttgart 1454 ; Pendleton 1459 
 (NC) Stuttgart 1200 ; Pendleton 1218 

Chicago Futures: May up 32 3/4 at  1521
  July  up  20 1/4  at  1419 1/4
  Aug up 15  at  1345
  Sept up 8 3/4  at  1263
  Nov up 4 1/4  at  1209 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans retraced Friday’s decline to begin the week on a strong note. Tightening old crop supplies gave the front end contracts a strong push with gains of 15 to 20 cents. Expiring May was even stronger. Confirmation of purchases from South America may have limited upside movement but not much. Planting progress reports to be released later today are expected to show big delays despite improving conditions. Delays in China have also been noted, and they are less equipped to deal with that situation than U.S. producers. July closed just below resistance at 14.23. Further resistance is just 13 cents higher. November firmed but didn’t get near trendline resistance just under $12.25.

Wheat
Cash bid for May at Memphis  721 3/4 to - - -;

Bids to farmers at Local Elevators 680-690;
River Elevators 686-726;

Chicago Futures: May up  4 3/4  at  701 1/2 
  July up 5 1/2  at  709 3/4 
  Sept up  5 1/2  at  718 
  Dec up  at  735 
  March up  5 1/2  at  752 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1099 to 1171;

Bids to farmers at River Elevators 1019-1054;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for May at Memphis   699 1/2 to 705 1/2;
  New Crop at Memphis   548 1/2 to 558 1/2;
Bids to farmers at River Elevators  661 to 694

Chicago Futures: May up  30 1/4  at  718 
  July up  19 1/4  at  655 1/2 
  Sept up  14  at  568 1/2 
  Dec up  9 3/4  at  539 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were higher today, continuing the trend of not going in the same direction two days in a row. The condition of the crop continues to be a supportive factor, and today’s report will likely show further deterioration. Russia has resumed exports again, tough, and that is a negative for prices. July is back testing support at $7.

Corn posted strong gains with expiring May gaining over 30 cents. July and September registered double digit gains. Tight stocks and slow planting remain major factors. Corn basis strengthen in the Eastern part of the Cornbelt where farmers are too busy planting to move corn to market. July is over 10 cents below resistance at $6.69. December form but couldn’t break old trendline resistance at $5.40.



Cotton & Rice  Date: May 13, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 44 at  8304
  Greenwood down  44 at 8304

New York Futures: July down  44  at  8604 
  Oct down  39  at  8578 
 Dec down  32  at  8550 
 March down  21  at  8556 
 May down  16  at  8546 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton recouped a large portion of early declines but still has small losses at the end of the session. Further increases in Chinese and world stocks were projected in Friday’s report. World stocks are expected to reach almost 93 million bales with China holding nearby 63%. Chinese imports are projected to be just 12 million bales, down a third from the current marketing year. December has resistance at 87.25 cents and then 2 cents higher.

Rice

Long Grain Cash Bid for  May - - -  to  - - -
  NC 1449/cwt  to  - - -

Chicago Futures: May up  16  at  1535 1/2 
 July up  18  at  1543 
 Sept up  13 1/2  at  1528 1/2 
 Nov up  11  at  1544 
 Jan up  12  at  1562 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures firmed today, as the market retraced Friday’s declines. A smaller U.S. crop is projected for 2013 and that is further complicated by slow planting in Arkansas and Mississippi. Tight U.S. stocks are supportive while large Thai intervention stocks remain a threat.



Cattle & Hogs  Date: May 13, 2013

Cattle
As reported by Federal-State Market News, receipts were 2261 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold weak to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 164.00 to - - -
  500 to 550 lbs. 148.00 to - - -
  600 to 650 lbs. 136.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 154.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 138.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 136.00 to - - -

Slaughter Cows, Boners 73.00   to   81.00
Light Weight 60.00 to 68.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   90.00   to   98.50
Midwest Steers   were   at   126.00   to   126.00
Panhandle Steers   were   at   123.00   to   126.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 164.00 to 171.00
  500 to 550 lbs. 157.00 to 165.50
Heifers 450 to 500 lbs. 141.00 to 147.00
  500 to 550 lbs. 136.00 to 143.00

Chicago Futures:
Live Cattle: June up 12 at 12057
  Aug up 10 at 12087
Feeders: May down 52 at 13485
  Aug down 42 at 14620

Cattle Comment
Cattle futures were mixed. 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 $3.50 lower to $.50     higher   at   57.50   to   59.50

Chicago Futures: May down 7 at 9192
  June up 42 at 9092

Hogs Comment
Hogs were also mixed. 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 13, 2013

Eggs

New York:  Ex. Lg. 125-129; Lg. 123-127; Med. 105-109;
Chicago:  Ex. Lg. 110-118; Lg. 108-116; Med. 92-100;

National Turkeys
Hens: 8-16 lbs 97.81
Toms: 16-24 lbs 98.00
 

Delmarva Broilers
U.S. Grade A
N/A