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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 Bids1052952
New Crop1026931
 

Riceland Foods

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

Futures:
SOYBEANS
High Low Last Change
Aug '16 1022.00 998.00 1003.50 -7.00
Sep '16 1010.75 988.25 993.25 -6.50
Nov '16 997.00 973.00 978.00 -8.00
Jan '17 998.00 973.50 978.50 -7.75
Mar '17 988.00 963.75 968.00 -7.00
May '17 981.00 959.25 963.00 -7.25
Jul '17 983.25 961.00 963.75 -7.25
Aug '17 961.00 950.75 955.75 -7.25
Sep '17 936.00 -10.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybeans recovered most of their early losses after the USDA released new soybean export sales for both old and new crop soybeans. Soybeans are in a good position as we head into fall, as it appears that old crop soybeans will reach the export forecast and the market continues to see a steady flow of new crop sales thanks to the lower dollar and tight South American supplies. Soybeans need this type of demand to reach the records currently forecast by the USDA, which is why we haven’t seen a major move based on these bullish demand reports. The market will remain focused on weather for the next few weeks as we wait to see how big the U.S. crop will be this fall.



Wheat

HighLow
Cash Bids410360
New Crop462437
 

Futures:
WHEAT
High Low Last Change
Sep '16 420.00 408.25 410.25 -4.50
Dec '16 446.00 435.00 437.25 -4.25
Mar '17 471.50 460.25 462.00 -5.25
May '17 484.00 473.75 475.25 -5.50
Jul '17 491.75 480.75 482.25 -5.50
Sep '17 499.00 493.75 494.50 -5.50
Dec '17 520.25 510.75 512.50 -6.25
Mar '18 526.75 -6.25
May '18 530.50 -6.25
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat closed lower again today as the market completely erased all of Monday’s gains. The market needs some help tomorrow to prevent prices from putting in a new contract low to end the week. Wheat remains under pressure from large supplies and a lack of demand. The one benefit of the lower prices is that wheat is now competitive in the feed market.



Grain Sorghum

HighLow
Cash Bids303235
New Crop316235
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids371298
New Crop357298
 

Futures:
CORN
High Low Last Change
Sep '16 338.50 329.00 331.25 -4.50
Dec '16 346.00 336.75 338.75 -4.25
Mar '17 354.50 345.50 347.50 -4.25
May '17 359.75 351.50 353.25 -3.75
Jul '17 364.50 356.75 358.50 -3.50
Sep '17 366.50 360.75 362.25 -3.25
Dec '17 372.75 366.25 368.25 -2.00
Mar '18 377.00 377.00 377.75 -2.00
May '18 383.00 -1.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

Corn prices closed lower today after a somewhat disappointing export sales report. Today’s report makes it difficult for the U.S. to reach the current USDA export forecast. With a large crop expected this fall shortfalls in demand are not something one wants to see on the balance sheet. This combined with lower oil prices is overshadowing the weakening dollar and forecast for warmer drier/weather.



Cotton

Futures:
COTTON
High Low Last Change
Oct '16 73.85 71.37 73.02 -0.81
Dec '16 74.11 71.65 73.04 -0.51

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton futures posted sharp losses in early dealings but recovered a bit to end near the middle of the day's trading range. December found support is Monday’s low of 71.54. If that support fails, then the next downward objective is the chart gap between 70.78 and 71 cents. The market is finding some support in continued hot weather conditions through the major cotton growing areas. Today's export report brought all cotton committments to 108% of USDA's projections and shipments are at 98%.



Rice

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

Futures:
ROUGH RICE
High Low Last Change
Sep '16 990.5 975.5 977.0 -5.5
Nov '16 1017.5 1003.0 1004.5 -5.5
Jan '17 1029.0 -6.0
Mar '17 1050.0 -5.0
May '17 1069.0 -5.0
Jul '17 1083.0 -5.0
Sep '17 1083.0 -5.0
DTN Click here for info on Exchange delays.

Rice Comment

Rice futures continued lower. September and November set a new contract low again today. Large carryover stocks and large acreage with a lack of significant drop problems are limiting the upside potential. Weekly exports of only 17,400 metric tons were disappointing to say the least. 67% of the crop is in good to excellent condition, and the crop is ahead of schedule, at 57% headed. That's compared with a 5 year average of 41%.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Aug '16 114.875 113.050 113.325 -0.625
Oct '16 113.775 111.825 112.100 -0.950
Dec '16 114.425 112.400 112.675 -1.225
Feb '17 113.800 111.675 112.000 -1.275
Apr '17 112.175 110.075 110.400 -1.300
Jun '17 105.650 103.575 103.825 -1.400
Aug '17 105.150 103.425 103.425 -1.250
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
Aug '16 144.200 139.900 140.475 -1.800
Sep '16 142.975 138.675 139.150 -1.975
Oct '16 141.750 137.800 138.350 -1.900
Nov '16 138.825 135.125 135.425 -1.925
Jan '17 134.700 131.025 131.325 -2.275
Mar '17 133.700 130.000 130.100 -2.925
Apr '17 134.275 130.750 130.750 -2.900
May '17 133.225 131.000 131.000 -2.225
DTN Click here for info on Exchange delays.

Arkansas Prices
Charlotte Livestock Auction
Green Forest Livestock Auction
Ratcliff Livestock Auction

Oklahoma City
El Reno Livestock Market, El Reno, OK

Cattle Comment

Cattle prices saw red again today as the market moves on from last week’s Cattle on Feed and wonders where the cash cattle demand is. While there were some offers out there today, demand remains sluggish combine this with the low beef prices and cattle margins remain squeezed making it difficult for futures to maintain the earlier rally.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Aug '16 71.775 68.775 68.850 -2.825
Oct '16 61.050 59.125 59.200 -1.850
Dec '16 56.475 54.725 54.825 -1.625
Feb '17 60.900 59.200 59.275 -1.725
Apr '17 65.600 63.925 64.000 -1.575
May '17 70.125 -1.225
Jun '17 74.675 73.575 73.650 -1.125
Jul '17 73.700 72.875 72.875 -1.100
Aug '17 72.525 71.775 71.950 -0.700
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