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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 Bids928864
New Crop924899
 

Riceland Foods

 
Cash BidsStuttgart: 903Pendleton: 903
New CropStuttgart: 907 Pendleton: 912
 

Futures:
SOYBEANS
High Low Last Change
Nov '14 930.00 909.75 913.25 -10.25
Jan '15 938.50 918.25 921.25 -11.00
Mar '15 946.50 926.50 929.75 -10.75
May '15 954.50 934.75 938.00 -10.75
Jul '15 961.00 941.25 944.50 -10.25
Aug '15 960.75 945.25 947.50 -10.00
Sep '15 949.75 941.00 939.50 -8.75
Nov '15 951.75 931.75 937.50 -7.00
Jan '16 956.75 942.00 944.25 -6.50
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybean prices closed lower after starting the day out higher. While the stocks report was bullish for soybeans, the market quickly digested this number and moved onto this year. Stocks as of September 1 were only 92 million bushels, that compares to an average trade estimate of 126 million bushels. This number was below even the low end of trade estimates, typically this would lead to a rally in soybean prices; however, we are already seeing a large crop from the southeast coming off and filling the void. Additionally early reports out of the lower Midwest show excellent yields also. So while we had a temporary tight stocks record supplies this year will fill the void quickly, and likely continue to push prices lower in the coming days. It looks like the technical rally is dead again and prices will again make their march back towards $9.



Wheat

HighLow
Cash Bids436396
New Crop502454
 

Futures:
WHEAT
High Low Last Change
Dec '14 481.75 468.00 477.75 -3.50
Mar '15 495.00 481.75 490.50 -3.50
May '15 502.75 491.25 498.75 -4.00
Jul '15 509.25 497.75 504.50 -4.00
Sep '15 519.25 510.00 515.50 -3.25
Dec '15 535.00 526.00 531.75 -2.75
Mar '16 546.00 541.75 542.75 -2.00
May '16 548.00 548.00 547.50 -1.50
Jul '16 538.75 535.00 540.25 -3.50
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices closed the day lower again today. Prices continue to feel the pressure of large supplies. Today’s stocks report provided no surprises for the wheat market coming in right in line with trade expectations. Look for these prices to continue to trend lower as weak fundamentals and outside markets pressure prices lower.



Grain Sorghum

HighLow
Cash Bids331276
New Crop326326
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids305258
New Crop301276
 

Futures:
CORN
High Low Last Change
Dec '14 326.25 319.50 320.75 -5.00
Mar '15 338.50 332.50 333.50 -5.00
May '15 347.00 341.00 342.00 -5.00
Jul '15 354.25 348.00 349.50 -4.50
Sep '15 361.50 356.00 356.75 -4.50
Dec '15 371.00 365.50 366.75 -4.00
Mar '16 380.00 375.00 376.25 -3.75
May '16 387.00 383.25 383.50 -3.50
Jul '16 393.00 388.75 389.25 -3.50
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

Corn prices closed lower today. Prices took another blow today after the September stocks report came in above average trade estimates and near the high end of trade expectations. Look for this news to continue to drive corn prices to more new lows in the coming days ahead of the October USDA report. This report is widely expected to raise production even higher, and today’s report indicates demand in the fourth quarter of the last marketing year was slower than expected. This could hinder the USDA from raising demand, and push most of the additional supplies into stocks.



Cotton

Futures:
COTTON
High Low Last Change
Oct '14 - - - - - - 61.37 -0.1
Dec '14 62.07 61.01 61.37 -0.1

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton futures were in the red across the board today, with December managing to hold above support at the contract low of 60.83 cents. Last week’s sell off took prices to their lowest level in nearly 5 years. The impetus for the move was news that China has reduced their import quota for 2015 to 894,000 metric tons, which is the absolute minimum allowed under their WTO obligations. Last year, China imported between 600,000 and 800,000 metric tons in excess of the minimum, and the most recent USDA report forecast is more in line with last year’s total, so China’s announcement is hitting the market hard. Harvest pressure will also begin to have an impact on the market. Harvest pressure will increase, as the crop is now 10% harvested. Crop conditions improved slightly this week, with 49% of the crop rated good to excellent.



Rice

HighLow
Long Grain Cash Bids- - -1214/cwt
Long Grain New Crop- - -- - -
 

Futures:
ROUGH RICE
High Low Last Change
Nov '14 1284.0 1270.5 1274.5 +1.0
Jan '15 1296.5 1288.0 1289.5 -1.5
Mar '15 1312.0 1312.0 1309.5 -1.5
May '15 1330.0 -1.0
Jul '15 1348.0 -1.0
Sep '15 1291.0 -1.0
Nov '15 1291.0 -1.0
DTN Click here for info on Exchange delays.

Rice Comment

Rice futures were fractionally mixed, with November a bit higher. Harvest pressure continues to be a factor, as U.S. producers now have 59% of the crop in the bins, up from 46% just last week. Arkansas producers have reportedly harvested 62% of the crop, up from 44% a week ago. Friday’s high of $12.91 is the first level of resistance between current price levels and key resistance at $13.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Oct '14 161.675 159.900 160.150 -0.800
Dec '14 164.975 163.175 163.400 -1.075
Feb '15 164.700 163.400 163.650 -0.700
Apr '15 163.200 161.850 162.000 -0.900
Jun '15 153.725 152.175 152.375 -0.775
Aug '15 151.850 150.750 150.850 -0.600
Oct '15 153.275 152.075 152.250 -1.000
Dec '15 153.500 152.550 152.650 -0.850
Feb '16 153.400 152.400 152.750 -0.750
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
Oct '14 236.175 234.700 235.500 +0.850
Nov '14 235.950 234.200 235.000 +0.500
Jan '15 229.900 228.150 228.850 +0.225
Mar '15 227.750 226.125 226.675 +0.325
Apr '15 227.550 226.150 226.675 -0.025
May '15 227.325 225.950 226.450 +0.650
Aug '15 227.850 226.825 227.000 -0.100
Sep '15 225.775 225.575 225.500 +0.550
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

Livestock prices were mixed today as live cattle moved lower and feeders continue to rally. The losses were limited in the live cattle market as tight supplies continue to support these prices. Look for these lower grain prices to add additional support this fall and help keep feeder demand strong as margins remain favorable.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Oct '14 108.750 107.100 107.850 +0.525
Dec '14 95.950 93.500 94.500 -0.350
Feb '15 91.175 89.375 90.575 +0.625
Apr '15 90.800 89.525 90.800 +1.300
May '15 91.400 90.325 90.500 +0.200
Jun '15 94.100 93.050 93.925 +0.775
Jul '15 92.100 91.075 91.950 +1.050
Aug '15 89.400 88.425 89.250 +0.700
Oct '15 75.550 75.200 76.000 0.000
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