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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 Bids1038950
New Crop980885
 

Riceland Foods

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

Futures:
SOYBEANS
High Low Last Change
Jul '15 1059.25 993.75 1056.25 +53.75
Aug '15 1051.25 985.50 1049.50 +55.00
Sep '15 1042.75 976.25 1041.50 +57.00
Nov '15 1038.00 971.25 1037.25 +57.25
Jan '16 1043.00 976.75 1042.25 +57.25
Mar '16 1033.75 976.50 1033.00 +49.75
May '16 1018.75 970.75 1013.50 +36.25
Jul '16 1016.25 973.25 1014.00 +34.50
Aug '16 998.00 985.50 1007.25 +31.50
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybeans saw sharp gains today as new crop soybeans are offering their highest prices of 2015, and highest since mid November of 2014. While soybean acres were higher than previously forecast, today's forecast was less than trade estimates. The big news for soybeans was the fact that soybean stocks were estimated at just 625 million bushels, almost 50 million bushels less than pre-report estimates. Given the weather issues over the last week the USDA has decided to resurvey soybean acres. This should give the market a more accurate forecast of acreage, but will continue to increase volatility in this market for the next few weeks. While demand has been stronger than expected in the 3rd quarter, the question is will this continue. Domestic demand remains robust, due to strong crush margins; however new crop sales remains slow. Watch this weeks export sales report closely to see if we begin to see buying as international buyers worry about higher prices.



Wheat

HighLow
Cash Bids581501
New Crop581553
 

Futures:
WHEAT
High Low Last Change
Jul '15 613.50 575.75 614.75 +34.25
Sep '15 617.50 575.75 615.75 +32.25
Dec '15 623.75 582.75 622.00 +31.25
Mar '16 629.50 587.00 628.00 +32.75
May '16 629.75 593.00 631.25 +32.50
Jul '16 628.50 588.75 626.25 +27.00
Sep '16 616.50 594.75 631.25 +26.75
Dec '16 636.75 609.00 641.00 +25.25
Mar '17 625.00 615.00 646.00 +22.25
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices also closed at a 2015 high, as prices followed other crops higher today. Today's wheat numbers were less bullish than the corn and soybean numbers. Wheat stocks were 40 million bushels higher than expectations and acreage was up about 1%. While these reports were less than supportive, slow wheat harvest and concern about weather impacts of recent weeks remain in the driver seat.



Grain Sorghum

HighLow
Cash Bids462442
New Crop471435
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids398373
New Crop410350
 

Futures:
CORN
High Low Last Change
Jul '15 415.00 382.75 414.00 +30.75
Sep '15 422.00 390.50 422.00 +30.00
Dec '15 432.25 400.75 431.50 +29.25
Mar '16 441.75 411.00 440.75 +28.25
May '16 447.00 417.25 446.25 +27.75
Jul '16 451.00 422.50 450.00 +26.25
Sep '16 430.25 407.75 432.00 +24.00
Dec '16 434.00 413.75 430.75 +15.50
Mar '17 440.00 425.00 439.50 +14.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

A perfect storm of USDA reports led to strong gains in corn prices. Yesterday afternoon the USDA reported a continued decline in overall crop rating then followed that report with a lower than expected stock and acreage report today. The USDA forecast stocks roughly 100 million bushels less than pre report estimates and about 200,000 acres less than those estimate. Again the acreage report does not consider the weather over last month in its forecast and we could see few acres later in the year due to flooding. Overall this market continues to look strong as traders stay focused on potential supply concerns. In addition to the corn numbers, the USDA also released sorghum forecast which showed production of almost 9 million acres in the U.S., including 500 acres in Arkansas (more than 2x cotton acres and equal to corn acres).



Cotton

Futures:
COTTON
High Low Last Change
Jul '15 65.85 64.95 67.51 0.71
Oct '15 68.76 66.2 68.91 0.52
Dec '15 67.99 65.05 67.91 0.68

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton futures closed at their highest levels in 9 months today. USDA reported today that the U.S. planted only 9 million acres of cotton this season, 18% below the 2014 crop, and down from planting intentions of 9.549 million acres. December charted a bullish key reversal after charting big losses in early dealings before turning higher. Resistance at 68 cents remains intact, however.



Rice

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

Futures:
ROUGH RICE
High Low Last Change
Jul '15 1021.5 977.0 1016.5 +37.5
Sep '15 1059.5 1005.0 1045.5 +37.0
Nov '15 1083.0 1032.5 1071.5 +35.5
Jan '16 1098.0 +35.5
Mar '16 1118.5 +35.5
May '16 1118.5 +35.5
Jul '16 1118.5 +35.5
DTN Click here for info on Exchange delays.

Rice Comment

Rough rice stocks in all positions on June 1, 2015 totaled 71.3 million hundredweight (cwt), up 42 percent from the total on June 1, 2014. Stocks held on farms totaled 10.2 million cwt and off-farm stocks totaled 61.1 million cwt. Long grain varieties accounted for 59 percent of the total rough rice, medium grain accounted for 39 percent, and short grain varieties accounted for 2 percent. Milled rice stocks in all positions totaled 6.77 million cwt, up 15 percent from a year ago. Milled rice stocks were comprised of 4.24 million cwt of whole kernel rice and 2.53 million cwt of second heads, screenings, and brewers rice.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Jun '15 150.400 147.850 147.850 -1.825
Aug '15 150.500 147.850 148.075 -1.800
Oct '15 152.875 150.350 150.700 -1.600
Dec '15 153.800 151.500 151.900 -1.400
Feb '16 153.725 151.625 152.025 -1.350
Apr '16 152.625 150.850 151.275 -1.100
Jun '16 144.750 143.350 143.675 -0.900
Aug '16 143.000 141.925 142.500 -0.700
Oct '16 144.850 143.950 144.400 -0.800
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
Aug '15 219.800 214.575 214.725 -4.350
Sep '15 218.475 213.400 213.400 -4.500
Oct '15 216.975 212.075 212.075 -4.500
Nov '15 215.325 210.450 210.625 -4.325
Jan '16 208.600 203.675 204.150 -4.025
Mar '16 206.700 201.500 201.775 -4.150
Apr '16 204.000 -2.600
May '16 203.500 201.250 201.500 -4.250
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 sharply lower today. The market remains pressured by slow sales, and weakening cash prices. Strong increases in the grain market today were a negative for cattle as it tightens the margins for feeders.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Jul '15 76.750 74.550 76.200 +1.950
Aug '15 74.775 72.050 74.375 +2.600
Oct '15 66.350 64.750 66.000 +1.350
Dec '15 64.750 63.200 64.225 +1.175
Feb '16 68.350 67.000 67.925 +0.925
Apr '16 72.725 71.400 72.500 +1.150
May '16 76.300 75.300 75.975 +0.825
Jun '16 80.125 78.975 79.875 +0.800
Jul '16 78.900 78.100 78.900 +1.425
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