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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 Bids10711004
New Crop1051984
 

Riceland Foods

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

Futures:
SOYBEANS
High Low Last Change
Sep '16 1036.00 1022.00 1030.75 -3.50
Nov '16 1014.00 996.25 1005.25 -8.25
Jan '17 1014.25 997.00 1006.00 -8.25
Mar '17 1010.50 995.00 1003.50 -7.25
May '17 1007.00 992.25 1001.25 -6.50
Jul '17 1006.75 992.25 1000.50 -6.00
Aug '17 998.00 989.50 993.25 -5.75
Sep '17 970.00 -5.00
Nov '17 954.50 941.75 948.75 -5.00
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybeans closed the day lower again today. Weakness in product markets is taking some of the wind out of soybean sails. As we start to see soybean export sales slow, the market is having difficulty maintaining gains. While prices dipped below $10 today, the market recovered and closed above support at $10. In the absence of a good export sales report tomorrow, soybeans could break this support as the this week's crop tour is confirming large crops in major growing areas.



Wheat

HighLow
Cash Bids395366
New Crop444419
 

Futures:
WHEAT
High Low Last Change
Sep '16 409.25 402.50 404.00 -3.75
Dec '16 429.25 423.25 426.25 -1.25
Mar '17 451.25 445.75 448.50 -1.50
May '17 464.75 460.00 462.25 -2.25
Jul '17 473.50 467.50 471.00 -2.50
Sep '17 485.00 483.00 485.00 -2.50
Dec '17 508.50 503.75 505.00 -3.00
Mar '18 521.00 -2.50
May '18 527.75 -2.50
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices continued to move lower today as December wheat put in new contract lose today. The market continues to face a bearish fundamental situation and the technical and outside markets are providing little support to prices.



Grain Sorghum

HighLow
Cash Bids332295
New Crop322247
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids344314
New Crop351320
 

Futures:
CORN
High Low Last Change
Sep '16 330.50 325.50 327.50 -1.00
Dec '16 339.50 334.50 336.25 -1.00
Mar '17 349.00 344.50 346.00 -1.00
May '17 355.75 351.50 352.75 -1.00
Jul '17 362.75 358.00 359.50 -1.25
Sep '17 369.75 365.25 366.50 -1.25
Dec '17 379.25 374.75 376.00 -1.25
Mar '18 387.50 385.00 385.50 -1.25
May '18 390.50 -1.00
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

Corn prices closed lower today as the crop crop tours have not found any significant bullish surprises. With the current record crop forecast, demand is not forecast to be strong enough to consume additional supplies. The good news for new crop prices is that they have managed to hold support near recent lows of $3.30. Corn needs additional demand to help support prices and spur a rally to push prices out of their current sideways pattern; otherwise, prices run the risk of seeing support fail and prices move towards $3.



Cotton

Futures:
COTTON
High Low Last Change
Oct '16 68.08 67.3 67.41 -0.71
Dec '16 68.88 67.55 67.79 -0.65

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton prices were under pressure from more severe weakness in other commodities, especially soybeans. A stronger dollar and weaker crude oil were both given some of the credit for the weakness today. The first survey based crop estimate came in at 15.88 million bales, up 80,000 bales. However, recent wet weather could have some impact on the quality of the crop in Louisiana and Mississippi, and areas of the Mid-south. Domestic mill use of 3.6 million bales and exports of 11.5 million were unchanged from last month. The average on farm price was increased by 7% in the supply/demand report to 57-69 cents. December is moving back toward the downward objective of 66.11 cents, the 50% retracement level.



Rice

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

Futures:
ROUGH RICE
High Low Last Change
Sep '16 1033.0 1007.0 1008.0 -22.5
Nov '16 1044.0 1008.0 1008.5 -27.0
Jan '17 1070.0 1042.0 1034.5 -27.5
Mar '17 1060.0 -27.0
May '17 1080.5 -27.0
Jul '17 1101.0 -26.0
Sep '17 1094.0 -26.0
DTN Click here for info on Exchange delays.

Rice Comment

Rice futures saw renewed weakness today as commodities were lower across the board. A stronger dollar and weaker crude oil both added pressure. . Nationwide, 13% of the crop is now rated poor to very poor, up from 8% last week. Another 25% is in fair condition, while 61% remains in good to excellent condition. In Louisiana, 17% is now in poor to very poor condition, while at home in Arkansas, 19% is in poor to very poor condition, 29% is in fair condition, and 52% is in good to excellent condition. Excessive rains have resulted in rice that has lodged and has sprouted in the field. This will all result in poorer quality rice and less than ideal yields. November has resistance at the recent high of $10.70, but today's move below the $10.30 area could signal a retest of recent lows around $9.50.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Aug '16 113.250 112.000 112.725 -0.525
Oct '16 110.075 108.700 108.900 -0.825
Dec '16 111.100 110.050 110.150 -0.825
Feb '17 111.100 109.800 109.950 -1.175
Apr '17 110.025 108.650 108.850 -1.225
Jun '17 103.450 102.350 102.425 -1.175
Aug '17 102.125 101.400 101.650 -0.975
Oct '17 102.825 102.425 102.425 -1.075
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
Aug '16 147.000 146.250 146.650 +0.200
Sep '16 144.400 142.100 143.000 -0.925
Oct '16 140.575 138.300 139.075 -1.375
Nov '16 137.225 135.175 135.875 -1.325
Jan '17 132.650 131.000 131.475 -1.225
Mar '17 130.850 129.250 129.875 -1.275
Apr '17 130.500 129.125 129.625 -1.100
May '17 130.000 128.475 128.800 -1.725
DTN Click here for info on Exchange delays.

Arkansas Prices
Conway Livestock Auction
Pocahontas Livestock Auction

Oklahoma City
Oklahoma City - Weekly Weighted Average Summary Wednesday

Cattle Comment

Cattle prices continued to trend lower today. While there was modest improvements in boxed beef prices today, the market remains under pressure from last week's bearish USDA report.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Oct '16 60.800 59.925 60.325 -0.200
Dec '16 56.875 55.800 56.050 -0.475
Feb '17 61.325 60.525 60.800 -0.475
Apr '17 66.525 65.875 66.125 -0.550
May '17 72.000 71.900 71.900 -0.875
Jun '17 76.425 75.725 75.950 -0.500
Jul '17 75.350 75.350 75.350 -0.275
Aug '17 74.700 74.200 74.700 +0.400
Oct '17 63.625 62.675 63.625 -0.150
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