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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 Bids964930
New Crop927846
 

Riceland Foods

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

Futures:
SOYBEANS
High Low Last Change
Jul '15 930.50 920.50 922.50 -1.75
Aug '15 921.75 911.25 913.25 -3.00
Sep '15 913.00 902.75 905.00 -2.50
Nov '15 913.00 902.00 904.75 -2.25
Jan '16 920.75 909.50 912.25 -2.50
Mar '16 926.00 914.50 917.00 -3.75
May '16 930.50 918.50 921.25 -3.75
Jul '16 935.50 924.50 927.00 -3.50
Aug '16 932.25 927.25 927.25 -2.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybeans continued Friday’s losses today as prices are just pennies above the key psychological support of $9. After losing more than 27-cents last week the market lost another 2-cents today. While soybean oil prices helped support prices early, the market was unable to hold onto gains. With prospects for continued improvement in planting progress, soybeans could remain under pressure for the next few weeks. Losses could become smaller and we could even see a small rally as prices are oversold. The large global supplies and large supplies here in the U.S. remain a drag on prices. The market will likely have difficulty making any significant rally in the next few weeks, as the market awaits the acreage and stocks report at the end of June. If this report shows soybean acres in line with the perspective planting report, we could see prices strengthen somewhat as the market is assuming more acres based on private estimates.



Wheat

HighLow
Cash Bids490450
New Crop528487
 

Futures:
WHEAT
High Low Last Change
Jul '15 519.75 492.00 493.50 -21.75
Sep '15 527.00 499.25 501.00 -22.00
Dec '15 541.00 514.00 515.75 -21.25
Mar '16 555.25 529.50 531.50 -20.00
May '16 563.25 539.75 540.75 -19.50
Jul '16 568.50 544.25 544.50 -20.00
Sep '16 552.25 -21.00
Dec '16 581.75 570.00 569.50 -19.25
Mar '17 587.50 -11.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices tumbled sharply lower today, despite continued bullish fundamentals on the supply side. The rains over the last few weeks have reportedly flooded wheat in part of the plains and there are even beginning to be reports of some sprouting in the heads. As the size and quality of this crop deteriorates, one would expect prices to continue to strengthen. However, demand for U.S. wheat remains dismal as shown in today’s export inspection report. Wheat exports continue lag behind where they need to be to meet USDA expectations. The USDA will likely have to adjust 2014/15 stocks by 20 – 40 million bu higher. These increases are offsetting some of this year’s supply concerns. Couple this with the stronger dollar and lack of competitiveness of US wheat internationally and wheat has a difficult time holding gains above $5.



Grain Sorghum

HighLow
Cash Bids419390
New Crop442405
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids380355
New Crop375329
 

Futures:
CORN
High Low Last Change
Jul '15 362.50 354.00 355.00 -5.00
Sep '15 369.00 361.00 362.00 -4.75
Dec '15 380.00 372.00 373.25 -4.50
Mar '16 390.50 382.75 384.25 -4.00
May '16 397.75 390.25 391.50 -3.75
Jul '16 403.50 396.50 398.00 -3.50
Sep '16 401.25 394.00 395.00 -4.00
Dec '16 402.50 395.25 396.50 -3.50
Mar '17 406.25 405.75 406.50 -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. Corn prices remain under pressure as planting progress remains strong and for the most part traders expected this afternoon’s crop condition report to show crops in good condition. The slow pace of 2015 Export Sales remains concerning to the market, especially given the continued strength in the dollar. With a good start under its belt, this market is likely going to have a difficult time making meaningful gains in the short term. The month of June could see prices trend lower, as the market waits for acreage report and the third quarter usage numbers at the end of June. December corn has support near $3.72, followed by support at contract lows of $3.64.



Cotton

Futures:
COTTON
High Low Last Change
Jul '15 64.66 63.27 63.31 0.01
Oct '15 66.3 65.4 64.98 -0.24
Dec '15 65.22 64.05 64.08 -0.3

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

December cotton charted a bearish key reversal and traded to the lowest level in a month. Heavy rains across the southern United States have limited planting progress. USDA says that only 47% of the crop is in the ground, compared with a 5 year average of 61%. A close below 64 cents would open another penny or two of downside potential, with support at 63 and 62 cents.



Rice

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

Futures:
ROUGH RICE
High Low Last Change
Jul '15 974.0 940.0 942.0 -1.0
Sep '15 991.0 968.5 969.5 -1.0
Nov '15 1002.5 995.0 995.0 -1.0
Jan '16 1027.0 1027.0 1021.0 -1.0
Mar '16 1027.5 -1.0
May '16 1027.5 -1.0
Jul '16 1027.5 -1.0
DTN Click here for info on Exchange delays.

Rice Comment

Rice futures were lower across the board. USDA says farmers have seeded 93% of the crop, but wet weather and the late date most likely mean that what will be planted this year is already in the ground and acreage will come in below what was reported in the planting intentions report. USDA says that 66% of the crop is in good to excellent condition nationwide, unchanged from last week. July charted a bearish key reversal in today's trade and has support at the contract low of $9.25.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Jun '15 152.825 151.650 151.775 -0.350
Aug '15 151.475 150.450 150.550 -0.150
Oct '15 153.400 152.450 152.525 -0.075
Dec '15 154.650 153.800 153.900 -0.250
Feb '16 154.550 153.875 154.175 +0.025
Apr '16 153.800 153.050 153.475 +0.175
Jun '16 147.000 146.600 146.625 +0.075
Aug '16 144.400 143.975 144.400 +0.400
Oct '16 146.000 +0.250
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
Aug '15 219.950 219.075 219.575 +0.575
Sep '15 218.900 218.075 218.550 +0.550
Oct '15 217.875 217.000 217.475 +0.475
Nov '15 216.950 216.425 216.650 +0.350
Jan '16 210.950 210.400 210.650 +0.525
Mar '16 209.850 209.500 209.500 +0.200
Apr '16 209.750 +0.700
May '16 208.500 +0.500
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 continue to show strength as wholesale beef prices remain firm. Cash prices also remain supportive of futures as futures continue to trade at a discount to cash prices.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Jun '15 83.825 82.950 83.250 -0.475
Jul '15 83.825 82.675 82.900 -0.825
Aug '15 83.800 82.700 83.050 -0.675
Oct '15 74.100 73.625 73.850 -0.325
Dec '15 70.125 69.600 70.100 -0.150
Feb '16 72.250 71.675 72.200 -0.200
Apr '16 74.400 73.900 74.400 -0.075
May '16 77.950 -0.200
Jun '16 80.725 80.200 80.725 -0.050
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