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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 Bids10831012
New Crop10701021
 

Riceland Foods

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

Futures:
SOYBEANS
High Low Last Change
Jul '16 1090.75 1071.75 1086.50 +6.75
Aug '16 1086.50 1070.00 1083.00 +5.75
Sep '16 1069.75 1056.00 1067.50 +5.75
Nov '16 1058.00 1045.00 1056.25 +5.75
Jan '17 1055.25 1041.50 1054.00 +7.00
Mar '17 1034.00 1022.25 1030.50 +4.75
May '17 1030.00 1018.25 1026.50 +5.50
Jul '17 1030.00 1016.50 1027.25 +6.75
Aug '17 1009.50 1009.50 1018.25 +9.00
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Soybean Comment

Soybeans closed higher today, as strength in the meal and oil markets continues to help soybeans maintain recent gains. Last week and earlier this week it looked as though soybeans were headed back below $9, but then sharp increases in meal prices pulled soybeans back within a few cents of highs. The new crop market closed up 6 3/4-cents on the week, thanks to a 25-cent gain on Wednesday. The soybean market needs meal demand to remain strong as the forecast of large supplies in 2016/17 will continue to weigh on soybean prices.



Wheat

HighLow
Cash Bids491446
New Crop491466
 

Futures:
WHEAT
High Low Last Change
Jul '16 484.75 478.50 481.50 +0.25
Sep '16 495.00 489.00 491.75 0.00
Dec '16 511.25 505.00 508.25 -0.25
Mar '17 526.00 520.00 523.50 -0.50
May '17 535.00 530.00 533.75 0.00
Jul '17 541.00 536.75 540.25 +0.50
Sep '17 545.00 543.75 546.50 0.00
Dec '17 557.00 553.00 556.75 +0.25
Mar '18 563.00 559.00 566.25 +0.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat Comment

Wheat prices ended higher again today as wet weather continues to threaten the wheat belt. For the week, wheat saw sharp gains of 13 3/4-cents. Wheat began the week looking as though it may retest contract lows, then rains across the wheat belt are expected to hurt the crop, the market will closely watch Tuesday's crop condition report to see if wheat quality has been affected. Wheat is near resistance at $4.84, and may need some help getting prices over the hump.



Grain Sorghum

HighLow
Cash Bids411368
New Crop350320
 

Arkansas Daily Grain Report

FOB Memphis Elevator Crops



Corn

HighLow
Cash Bids413386
New Crop415405
 

Futures:
CORN
High Low Last Change
Jul '16 413.50 406.50 412.75 +4.50
Sep '16 414.75 408.50 414.25 +3.75
Dec '16 414.00 407.75 413.50 +3.75
Mar '17 420.50 414.75 420.00 +3.50
May '17 423.75 418.25 423.75 +4.00
Jul '17 427.00 421.25 427.00 +4.75
Sep '17 415.00 411.50 414.75 +2.75
Dec '17 415.00 408.50 413.75 +2.00
Mar '18 421.00 417.75 421.00 +1.75
DTN Click here for info on Exchange delays.

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn Comment

Corn prices closed higher today as prices resisted the urge for profit taking ahead of this long weekend, thanks to the USDA reporting a 5.1 million bushels sale for 2015/16. This continues to add to the bullish tone of the market thanks to strengthening demand. For the week, December corn ended up 13 3/4-cents. As we head into June prices could see additional volatility as the market anxiously awaits the acreage report at the end of June.



Cotton

Futures:
COTTON
High Low Last Change
Jul '16 64.59 63.58 64.28 -0.05
Oct '16 64.27 64.27 64.37 -0.26
Dec '16 63.98 63.3 63.85 -0.09

Memphis, TN Cotton and Tobacco Programs

Cotton Comment

Cotton futures retreated a bit to close lower after failing to generate any buying interest above Thursday's highs. July is now testing resistance at the recent high of 64.75 cents. December shattered previous resistance and set a new high for the move on Thursday. Above that, the next resistance for December is the January chart gap between 64 cents and 64.08 cents. Export commitments reached 99% of USDA's projection for the marketing year, and shipments now total 77%. Of course, USDA projects total exports to be down 20% from the previous marketing year. Reports indicate that China's daily auctions are slowing down. Cumulative sales are reportedly over 500,000 metric tons, or about 2.3 million bales. Planting progress is now running behind the 5 year average at 46% planted. Arkansas farmers are ahead of their usual pace, though, with 94% of the crop in the ground, compared with a 5 year average of 84%.



Rice

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

Futures:
ROUGH RICE
High Low Last Change
Jul '16 1114.0 1075.5 1076.5 -29.5
Sep '16 1132.0 1100.0 1101.0 -29.0
Nov '16 1156.0 1122.0 1125.0 -30.0
Jan '17 1143.5 -31.5
Mar '17 1162.5 -28.5
May '17 1179.0 -29.0
Jul '17 1179.0 -29.0
DTN Click here for info on Exchange delays.

Rice Comment

Rice futures continued lower today. Arkansas farmers have now planted 98% of their intended acres. The question remains, though, will they stop there? The five year average for this date is 89%, so if conditions remain favorable, the crop might get bigger, at least 1.6 million acres are likely. This large crop could limit the upside potential of the market, however, dry conditions in other rice growing regions of the world could provide support. The market needs to see better export movement, though. Weekly export sales of 78,600 tons this week were not enough to inspire any buying interest. The chart has taken on a negative appearance. The uptrend in July has been broken and futures closed right on previous support at the recent low of $10.76.



Cattle

Futures:
Live Cattle:
LIVE CATTLE
High Low Last Change
Jun '16 120.075 119.125 119.700 +0.775
Aug '16 116.650 115.500 116.425 +1.075
Oct '16 116.125 114.875 115.825 +1.000
Dec '16 116.175 115.200 116.000 +0.875
Feb '17 115.400 114.675 115.325 +0.750
Apr '17 114.475 113.625 114.300 +0.475
Jun '17 107.900 107.350 107.850 +0.600
Aug '17 106.175 105.625 106.025 +0.450
DTN Click here for info on Exchange delays.
Feeders:
FEEDER CATTLE
High Low Last Change
Aug '16 146.850 145.550 146.700 +1.300
Sep '16 145.175 144.025 144.800 +0.850
Oct '16 143.550 142.500 143.225 +0.750
Nov '16 139.800 138.725 139.275 +0.500
Jan '17 135.050 134.075 134.425 +0.425
Mar '17 132.250 131.800 132.250 +0.850
Apr '17 133.325 133.325 133.050 +1.725
May '17 132.975 +1.725
DTN Click here for info on Exchange delays.

Arkansas Prices
Arkansas Weekly Livestock Summary

Cattle Comment

Cattle prices closed higher again today as both the feeder and live cattle markets were able to close the gap left following the cattle on feed report. Cattle futures continue to be supported by strong cash cattle prices. With continued weakness in beef prices today, the market could have difficulty maintaining gains longer term.



Hogs

Futures:
LEAN HOGS
High Low Last Change
Jun '16 80.575 79.950 80.525 -0.025
Jul '16 81.250 80.400 81.075 -0.200
Aug '16 80.850 80.025 80.725 -0.025
Oct '16 68.650 67.950 68.525 +0.125
Dec '16 63.725 63.100 63.650 +0.075
Feb '17 66.825 66.400 66.775 +0.025
Apr '17 69.875 69.650 69.875 +0.125
May '17 74.475 +0.650
Jun '17 77.925 77.875 77.875 +0.525
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