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Arkansas Farm Bureau
Grain & Soybean Date: June 27, 2013

REMINDER: June Market Update Webinar tomorrow (Fri., June 28, 2013) at 12:30 p.m. To participate in the Webinar click on the link and follow the instructions: www.tinyurl.com/arfbwebex. For more information call Matt King at 501-519-4297

Soybeans

Local Elevators:
(June) EAST AR:  1559 to - - -
(NC) Summ. 1260 to 1290
River Elevators:
(June) MISS: 1579 to 1585 ; AR & White 1543 to 1544
(NC) Summ. 1248 to 1294
Ark. Processor Bids: (June) 1574 to - - -  (NC) 1270 to 1281
Memphis:  (June) 1562 1/2 to 1593 1/2 (NC)  1297 1/4 to - - -
Riceland Foods:  (June) Stuttgart 1508 ; Pendleton - - - 
 (NC) Stuttgart 1270 ; Pendleton 1290 

Chicago Futures: July up 14 1/4 at  1548 1/2
  Aug  up  7 1/4  at  1432 1/2
  Sept up 3/4  at  1317 3/4
  Nov down 3/4  at  1275 1/4
  Jan down 1/2  at  1278 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans continued the recent trend with old contracts moving higher and new crop contracts lower. Good demand for the old crop beans that are left is providing support. Basis levels are improving and July futures are trading at a discount to cash values at this point, so that is supportive. The prospect for larger soybean acreage than first projected is keeping a lid on new crop futures. The average trade estimate is for about a 1 million acre increase in the soybean crop. November has resistance at the small gap left on Friday between $12.81 ½ and $12.84. Support begins at Monday’s low of $12.56 ½.

Wheat
Cash bid for June at Memphis  649 1/2 to 650 1/2;
Bids to farmers at Local Elevators 641-654;
River Elevators 610-651;

Chicago Futures: July down  3 1/2  at  663 1/2 
  Sept down 3 1/4  at  673 3/4 
  Dec down  3 1/4  at  689 
  March down  3 1/2  at  703 
  May down  3 3/4  at  712 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for June at Memphis  1120 to 1192;
Bids to farmers at River Elevators 1040-1075;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for June at Memphis   694 1/4 to 707 1/4;
  New Crop at Memphis   557 1/4 to 563 1/4;
Bids to farmers at River Elevators  674 to 705

Chicago Futures: July up  2 3/4  at  667 1/4 
  Sept down  1 3/4  at  572 1/4 
  Dec down  5 1/2  at  538 1/2 
  March down  at  549 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat prices remain weak as harvest continues to look good, and supplies are expected to be ample. Prices remain just cents above a new contract low as we head into Friday’s acreage report and stocks report. While there is not expected to be big news for wheat, a good corn report will likely spread to the wheat market in the short run. Look for spill over strength to provide an opportunity to sell remaining wheat.

December corn continued to consolidate into a narrow trading pattern ahead of Fridays report between $5.42 – $5.50. The market is reluctant to make any king of big move as it waits for Friday’s Acreage report. Old crop continues to show strength as basis levels remain strong for old crop corn. Friday’s report will set the tone for how the next month of trading will go. After that the market will key in on daily weather reports and expect a lot of volatility as the market needs a good crop to ease supply concerns.



Cotton & Rice  Date: June 27, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 84 at  8313
  Greenwood up  84 at 8313

New York Futures: July down  55  at  8313 
  Oct up  84  at  8613 
 Dec up  36  at  8406 
 March up  14  at  8224 
 May up  at  8150 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton posted modest gains today as December cotton remains in the 82.5 to 87.5 cent range. A close below 82.5 –cent would leave cotton vulnerable to a decline to the next support level at 80 – cents followed by 75-cents. December cotton spent a lot of time trading in this area before the attempted run at 90-cents earlier this year. If Friday’s report does not remove more acres than the supply and demand report earlier in the month, cotton is likely to move to the lower trading range.

Rice
Long Grain Cash Bid for  June - - -  to  - - -
  NC 1487/cwt  to  - - -

Chicago Futures: July down  14 1/2  at  1550 
 Sept down  13  at  1556 1/2 
 Nov down  12 1/2  at  1583 
 Jan down  12  at  1605 
 March down  12  at  1620 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were lower across the board. September looks to have confirmed a top at the recent high of $16.47 ½, but is now working on building support at Monday’s low of $15.53. The market is looking forward to the planted acreage report. We know some acres that were intended for corn wound up in rice due to wet weather in Arkansas, but some acres meant for rice have certainly been seeded in soybeans as the wet weather continued throughout the spring.



Cattle & Hogs  Date: June 27, 2013

Cattle
As reported by Federal-State Market News, receipts were 1860 head at sales in Ratcliff, Charlotte & Green Forest.  Compared with last week, feeder steers sold near steady .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 158.00 to - - -
  500 to 550 lbs. 150.00 to - - -
  600 to 650 lbs. 144.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 147.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 132.00 to - - -

Slaughter Cows, Boners 75.00   to   83.00
Light Weight 65.00 to 67.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   90.00   to   100.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: June down 12 at 12115
  Aug up 75 at 12292
Feeders: Aug up 77 at 14970
  Sept up 80 at 15182

Cattle Comment
Cattle futures were mostly higher today. August live cattle posted solid gains after negating Tuesday’s bearish key reversal with Wednesday’s impressive gains. This positive chart action came despite the fact that wholesale beef prices were weaker and cash trade has yet to develop this week.

Hogs
Peoria: were     steady   at   67.00   to  

Chicago Futures: July up 202 at 10197
  Aug up 175 at 9940

Hogs Comment
Hog futures were solidly higher. Improving product values have resulted in strong packer margins and are supporting futures. August set a new high for the move with the next resistance at the contract high of $100.05.



Poultry  Date: June 27, 2013

Eggs
New York:  Ex. Lg. 114-118; Lg. 112-116; Med. 94-98;
Chicago:  Ex. Lg. 96-104; Lg. 94-102; Med. 82-90;

National Turkeys
Hens: 8-16 lb. 98.50
Toms: 16-24 lb. 96.50
 

Delmarva Broilers
U.S. Grade A
N/A

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