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Arkansas Farm Bureau
Grain & Soybean Date: June 19, 2013

Soybeans

Local Elevators:
(June) EAST AR:  1526 to 1563
(NC) Summ. 1296 to 1322
River Elevators:
(June) MISS: 1551 to 1559 ; AR & White 1517 to 1528
(NC) Summ. 1286 to 1332
Ark. Processor Bids: (June) 1548 to 1558  (NC) 1301 to 1317
Memphis:  (June) 1523 to 1563 (NC)  1332 3/4 to 1335 3/4
Riceland Foods:  (June) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: July up 12 1/4 at  1523
  Aug  up  11 1/2  at  1447
  Sept up 15 1/2  at  1352 3/4
  Nov up 21  at  1310 3/4
  Jan up 19 1/2  at  1314 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
November soybeans were up sharply today. Informa Economics released their updated crop estimate today. They estimate production of 3.366 billion bushels, smaller than the current USDA estimate of 3.39 billion. This is based on a reduced yield estimate and acreage of 77.756 million acres planted. The acreage is the big question, with USDA’s current estimate at 77.1 million and private estimates closer to 78 million. Delayed/prevented corn, cotton and rice planting could result in more soybean acres than expected. Today’s gains took the market back above $13. Overhead resistance is the recent high of $13.31, with support beginning at $12.79.

Wheat
Cash bid for June at Memphis  715 to - - -;
Bids to farmers at Local Elevators 689-702;
River Elevators 668-717;

Chicago Futures: July up  19 1/2  at  707 
  Sept up 19 1/2  at  714 1/4 
  Dec up  19  at  727 
  March up  19 1/4  at  741 
  May up  19  at  751 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  1147 to 1218;
Bids to farmers at River Elevators 1067-1102;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for June at Memphis   706 1/4 to 727 1/4;
  New Crop at Memphis   595 to 605;
Bids to farmers at River Elevators  689 to 720

Chicago Futures: July up  at  682 1/4 
  Sept up  21  at  610 
  Dec up  20  at  570 1/2 
  March up  20  at  581 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat prices posted strong gains today, as strength in outside markets spilled over into wheat. Gains are likely to continue as the market is oversold; however, pressure from a good wheat harvest may prevent some gains.

Corn prices continue to climb!! December corn managed to close just under $5.50, prices showed strength today being up as much as $5.70. The next objective for prices is $5.62, followed by $5.73 the high set back in March. News that the Fed will continue its monetary is positive for commodity markets as the dollar will remain weak. It is likely some of these gains are also likely anticipation of a lower acreage number next week.



Cotton & Rice  Date: June 19, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 24 at  8414
  Greenwood down  24 at 8414

New York Futures: July up  42  at  8540 
  Oct down  24  at  8714 
 Dec down  65  at  8667 
 March down  70  at  8628 
 May down  72  at  8601 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Like yesterday, cotton prices continue defied other markets, and closed down across. Profit taking continues in the cotton market as gains over the last few weeks pushed cotton into overbought territory. Prices continue to maintain strong support at the 82.5-level, expect prices to move back into the nickel trading range they have been in most of the last 4 months.

Rice
Long Grain Cash Bid for  June - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: July down  1/2  at  1628 
 Sept up  at  1636 1/2 
 Nov up  at  1661 
 Jan up  2 1/2  at  1684 
 March up  2 1/2  at  1684 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were mostly higher. The market traded in a wide range early in the week, but appeared to be trying to stabilize today. September has resistance at the recent high of $16.47 ½. Support begins at Monday’s low of $16.11.



Cattle & Hogs  Date: June 19, 2013

Cattle
As reported by Federal-State Market News, receipts were 747 head at sales in Searcy & Pocahontas.  Compared with last week, feeder steers sold firm to $2 higher, instances $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 153.00 to - - -
  500 to 550 lbs. 145.50 to - - -
  600 to 650 lbs. 135.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 143.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 130.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 124.50 to - - -

Slaughter Cows, Boners 73.00   to   80.00
Light Weight 63.00 to 67.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   90.00   to   100.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 168.00 to 175.50
  500 to 550 lbs. 159.50 to 170.00
Heifers 400 to 500 lbs. 140.00 to 146.00
  500 to 550 lbs. 138.00 to 139.75

Chicago Futures:
Live Cattle: June up 97 at 12047
  Aug up 137 at 12040
Feeders: Aug up 85 at 14465
  Sept up 77 at 14700

Cattle Comment
Cattle futures posted solid gains, but did not challenge resistance at the top of the trading channel that has contained the market for the past month. Resistance is at $120.97 1/2, and support is near $118.

Hogs
Peoria: were $3 lower to $1     higher   at   64.00   to   66.00

Chicago Futures: June up 127 at 9997
  July up 107 at 9837

Hogs Comment
Hog futures exploded to the upside today, with nearby July briefly trading to a new contract high before backing off due to profit taking. The market is oversold on technical indicators and could correct at any time. However, July is still trading at a $2 discount to the cash index, and that will provide support.



Poultry  Date: June 19, 2013

Eggs
New York:  Ex. Lg. 102-106; Lg. 100-104; Med. 90-94;
Chicago:  Ex. Lg. 86-94; Lg. 84-92; Med. 74-82;

National Turkeys
Hens: 8-16 lb. 98.06
Toms: 16-24 lb. 98.35
 

Delmarva Broilers
U.S. Grade A
N/A

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