Print this page

Daily Market Report Archive

Grain & Soybean Date: July 01, 2013

Soybeans

Local Elevators:
(July) EAST AR:  1581 to - - -
(NC) Summ. 1228 to 1258
River Elevators:
(July) MISS: 1601 to 1607 ; AR & White 1565 to 1566
(NC) Summ. 1216 to 1263
Ark. Processor Bids: (July) 1596 to - - -  (1238) 1249 to
Memphis:  (July) 1584 1/2 to 1590 1/2 (NC)  1265 1/4 to - - -
Riceland Foods:  (July) Stuttgart 1511 ; Pendleton - - - 
 (NC) Stuttgart 1238 ; Pendleton 1258 

Chicago Futures: July up 6 at  1570 1/2
  Aug  up  5 1/4  at  1436 1/4
  Sept down at  1296 1/4
  Nov down 8 3/4  at  1243 1/4
  Jan down 7 1/2  at  1249 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed the day mixed, with old crop posting modest gains and new crop continuing their slide. The USDA has announced they will resurvey soybeans, after last week’s report showed record plantings despite a slow progress to 2013 planting. The survey which was done in early June may include producers who planned to plant, but were unable to given weather. With crop insurance deadline passed in many states it may be more beneficial for producers to take prevented planting than to risk planting at a lower coverage. November posted losses again today; the next technical support starts around $12.05

Wheat
Cash bid for July at Memphis  632 3/4 to 636;

Bids to farmers at Local Elevators 616-631;
River Elevators 592-639;

Chicago Futures: July down  2 3/4  at  645 3/4 
  Sept down 2 3/4  at  655 
  Dec down  2 1/4  at  669 1/4 
  March down  1 1/4  at  682 3/4 
  May down  1/4  at  693 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for July 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 July at Memphis   665 1/2 to 682 1/2;
  New Crop at Memphis   516 1/2 to 522 1/2;
Bids to farmers at River Elevators  663 to 694

Chicago Futures: July down  23 3/4  at  655 1/2 
  Sept down  15 3/4  at  531 1/2 
  Dec down  9 3/4  at  501 1/4 
  March down  8 3/4  at  513 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat prices closed the day mixed. Even as corn and soybean prices have fallen wheat prices have managed to minimize gains and losses more than was originally expects. The July 2014 wheat price remains close to $7, which probably looks pretty good to producers. The coming weeks if corn or soybean prices were to rally, look for opportunities to sell some 2014 wheat.

Corn prices continued to slide today, after the shocking USDA report on Friday. While the most common answer to that report is I don’t believe it, the fact of the matter is that these are the fundamentals the market will trade over the next few weeks. Good weather forecast across most of the Midwest has hopes high for the yield potential of this year’s crop. It’s a scary thought for some, but highs for this market may have already happened. Until some major changes are made to this balance sheet, there is no support for prices to rebound. December corn prices put in a new contract low today. Tomorrow will be a key test for this market as it approaches the $5 level. Will prices break this support and close with a four in front of the corn price for the first time since September 2010? Reminder the spread between September and December is more than 30-cents; the market in September is likely to remain very tight which may offer producers to get a good basis at the river and at feed mills.



Cotton & Rice  Date: July 01, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 131 at  8392
  Greenwood up  131 at 8392

New York Futures: July up  158  at  8429 
  Oct up  131  at  8692 
 Dec up  153  at  8554 
 March up  134  at  8382 
 May up  147  at  8333 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton prices continued their rollercoaster ride today as they closed up across the board. The market remains locked in the 82.5 to 87.5 cent range. With little surprises in Fridays report the market continues to wait and see how the weather will impact this years crop.

Rice

Long Grain Cash Bid for  July - - -  to  - - -
  NC 1475/cwt  to  - - -

Chicago Futures: July up  at  1575 
 Sept down  14  at  1545 
 Nov down  15 1/2  at  1568 
 Jan down  17  at  1582 1/2 
 March down  21  at  1593 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice prices were also down today. Friday’s report held few surprises for the rice industry. Rice prices will likely continue to look for fundamental support as we are seeing little change in area or yield potential, thus far through the season. With declines in other grain markets it will be difficult for rice to make a major move higher without some change in fundaments.



Cattle & Hogs  Date: July 01, 2013

Cattle
As reported by Federal-State Market News, receipts were 1797 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold mostly firm to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 165.00 to - - -
  500 to 550 lbs. 152.00 to - - -
  600 to 650 lbs. 140.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 149.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 136.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 137.00 to - - -

Slaughter Cows, Boners 76.00   to   84.00
Light Weight 68.00 to 72.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   92.50   to   99.50
Midwest Steers   were   at   119.00   to   121.00
Panhandle Steers   were   at   119.00   to   120.00

Oklahoma City Feeders
Steers 550 to 600 lbs. 154.50 to - - -
  600 to 650 lbs. 158.50 to 161.00
Heifers 550 to 600 lbs. 134.00 to - - -
  600 to 650 lbs. 139.50 to 142.00

Chicago Futures:
Live Cattle: Aug up 15 at 12217
  Oct up 45 at 12612
Feeders: Aug up 177 at 15122
  Sept up 172 at 15332

Cattle Comment
Cattle futures closed higher as market continues to react to Friday's acreage report.

Hogs
Peoria: were     steady   at   65.00   to   67.00

Chicago Futures: July down 20 at 10107
  Aug down 45 at 9700

Hogs Comment
Hog futures were lower as a result of Fridays inventory report. Concerns about herd expansion due to a larger than expected corn crop (and thus cheaper feed) also weighed on the market.



Poultry  Date: July 01, 2013

Eggs

New York:  Ex. Lg. 114-118; Lg. 112-116; Med. 94-98;
Chicago:  Ex. Lg. 107-115; Lg. 105-113; Med. 83-91;

National Turkeys
Hens: 8-16 lb. 97.91
Toms: 16-24 lb. 97.95
 

Delmarva Broilers
U.S. Grade A
N/A