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Arkansas Farm Bureau Daily Commodity Report

A comprehensive daily commodity market report for Arkansas agricultural commodities with cash markets, futures and insightful analysis and commentary from Arkansas Farm Bureau commodity analysts.

Noteworthy benchmark price levels of interest to farmers and ranchers, as well as long-term commodity market trends which are developing. Daily fundamental market influences and technical factors are noted and discussed.

Soybeans

HighLow
Cash Bids10491027
New Crop1030947
 

Riceland Foods

 
Cash BidsStuttgart: - - -Pendleton: - - -
New CropStuttgart: - - - Pendleton: - - -
 

Futures:
SOYBEANS
High Low Last Change
May '16 1047.50 1015.00 1021.50 -14.00
Jul '16 1057.00 1023.00 1030.00 -13.75
Aug '16 1057.25 1025.00 1032.00 -12.00
Sep '16 1041.75 1012.25 1019.00 -10.00
Nov '16 1030.75 1003.00 1010.25 -7.50
Jan '17 1031.25 1004.00 1011.00 -8.25
Mar '17 1021.75 995.25 999.25 -11.50
May '17 1018.75 992.75 995.00 -12.75
Jul '17 1020.00 994.00 996.00 -13.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybeans closed sharply lower today after setting new multi month highs. The new crop contract set new highs today after an early jump to $10.30; however, prices weakened some 20-cents during the course of the day. Continued fund buying continues to support prices as fundamentals remain mostly negative. Soybeans will need a strong export report tomorrow to help soybeans continue to maintain gains above $10.



Wheat

HighLow
Cash Bids496437
New Crop500475
 

Futures:
WHEAT
High Low Last Change
May '16 481.50 458.25 459.75 -17.25
Jul '16 492.75 468.25 470.75 -17.00
Sep '16 503.25 478.75 481.25 -17.25
Dec '16 521.25 496.25 498.75 -18.00
Mar '17 538.00 513.00 515.50 -18.50
May '17 547.50 523.00 525.75 -18.25
Jul '17 551.00 526.00 528.50 -18.75
Sep '17 536.50 535.75 535.50 -19.50
Dec '17 546.50 546.50 549.00 -18.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices saw the largest declines of any grains today as July wheat closed down 17-cents on the day. July wheat has support at $4.67, if this support is broken prices could be headed back towards contract lows if wheat does not get significant support from outside markets. Wheat remains pressured by improving crop outlook and lackluster demand.



Grain Sorghum

HighLow
Cash Bids391375
New Crop366282
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids406380
New Crop400376
 

Futures:
CORN
High Low Last Change
May '16 393.50 375.75 378.25 -12.00
Jul '16 395.00 377.00 379.75 -12.00
Sep '16 394.75 378.75 381.50 -10.75
Dec '16 398.50 384.00 387.00 -9.50
Mar '17 406.00 392.50 395.50 -9.00
May '17 410.75 397.75 400.25 -9.00
Jul '17 415.00 402.00 405.00 -8.50
Sep '17 404.00 397.75 400.50 -8.00
Dec '17 410.50 400.50 402.75 -7.00
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

Corn prices closed sharply lower with double digit losses in almost all the contracts. New crop corn closed down some 9.5-cents today after prices failed near resistance at $4 and is now back below $3.90. Corn prices continue to feel pressure from improved planting forecast and concern over the weaker export inspections yesterday. Corn prices are likely trying to consolidate back in their previous range between $3.70 and $3.90.



Cotton

Futures:
COTTON
High Low Last Change
May '16 62.62 62.5 63.05 -1.31
Jul '16 64.65 62.16 63.06 -1.31
Dec '16 63.69 61.52 62.35 -1.07

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton futures charted a huge bearish reversal today. The International Cotton Advisory Committee revised its global output forecast to 22.96 million tons and lowered the global demand forecast to 23.77 million, leaving ending stocks of 19.59 million tons for the 16/17 season. Weekly exports were a disappointing 74,600 running bales, down from 117,900 bales the previous week. This was due mainly to recent price increases, but the decrease was greater than expected. Export bookings are now down 23% from last year. July has uptrending support near 61.50 cents, while resistance is at the recent high of 64.75.



Rice

HighLow
Long Grain Cash Bids- - -- - -
Long Grain New Crop- - -- - -
 

Futures:
ROUGH RICE
High Low Last Change
May '16 1105.0 1094.0 1117.0 +11.0
Jul '16 1146.0 1121.0 1144.5 +11.0
Sep '16 1160.0 1142.0 1159.0 +12.0
Nov '16 1164.0 1156.0 1168.0 +13.0
Jan '17 1168.0 1168.0 1179.0 +11.5
Mar '17 1196.0 +11.5
May '17 1215.0 +11.5
DTN Click here for info on Exchange delays.

Rice Comment

Rice futures were higher across the board today. July completed a 38% retracement today, with the next upside objective at the 50% level of $11.93. Weekly exports were only 31,700 metric tons this week, down from 121,300 metric tons last week. The market will be watching crop progress closely. If farmers plant what they reported to USDA in the survey, the large crop will limit the upside potential. Currently, USDA says 72% of the crop in the ground and 55% emerged. In Arkansas, the totals are 87% planted and 66% emerged, so Arkansas farmers made lots of progress in a week’s time. However, world production is in question as dry conditions persist in Asia due to El Nino, and that is providing support and possibly pricing opportunities for the time being.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Jun '16 116.850 115.750 116.375 +0.575
Aug '16 114.800 113.775 114.350 +0.625
Oct '16 114.525 113.625 114.325 +0.750
Dec '16 114.425 113.575 114.300 +0.600
Feb '17 113.475 112.575 113.425 +0.575
Apr '17 112.925 112.250 112.750 +0.300
Jun '17 107.425 106.775 107.425 +0.425
Aug '17 105.450 104.975 105.375 +0.375
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
May '16 143.725 141.225 143.400 +1.975
Aug '16 143.425 141.075 143.050 +1.550
Sep '16 142.725 140.975 142.500 +1.075
Oct '16 141.925 140.325 141.600 +0.675
Nov '16 137.900 136.275 137.675 +0.625
Jan '17 134.150 132.650 134.000 +0.575
Mar '17 133.400 132.000 133.275 +0.425
Apr '17 132.400 +0.425
DTN Click here for info on Exchange delays.

Arkansas Prices
Ft. Smith Livestock Auction
Heber Springs Livestock Auction

Oklahoma City
Oklahoma City - Feeder Cattle Auction Weighted Average Report

Cattle Comment

Cattle prices closed higher again today as the market continues to try and recover last losses from last Thursday's limit down move. The market has seen little bullish support for prices as beef prices continue to weaken and cattle slaughtered continues lag year ago levels.



Hogs

Futures:
LEAN HOGS
High Low Last Change
May '16 78.575 77.800 78.475 +0.050
Jun '16 83.125 82.100 82.925 +0.225
Jul '16 83.450 82.700 83.350 +0.225
Aug '16 82.150 81.500 81.925 +0.075
Oct '16 70.575 70.050 70.450 +0.075
Dec '16 65.250 64.800 65.175 0.000
Feb '17 67.875 67.550 67.825 +0.025
Apr '17 70.600 70.400 70.600 +0.050
May '17 74.850 74.825 74.825 +0.025
DTN Click here for info on Exchange delays.

Hog Comment



Shell Eggs

Daily Midwest Regional Eggs
Daily New York Eggs

National Turkeys

Weekly Weighted Average Prices for Whole Young Turkeys

Delmarva Broilers

Daily Southern Broiler/Fryers