Grain & Soybean Date: August 26, 2009 Soybeans
Local Elevators:
(Aug) EAST AR: n/a to - - -
(NC) Summ. 973 to 989
River Elevators:
(Aug) MISS: 1039 to 1051 ; AR & White 1002 to 1026
(NC) Summ. 973 to 1012
Ark. Processor Bids: (Aug) 9003 to - - - (NC) 983 to - - -
Memphis: (Aug) 1039 1/2 to 1056 1/2 (NC) 1015 1/2 to 1016 1/2
Riceland Foods: (NC) Stuttgart 983 ; Pendleton 989 ; West Memphis 1012
Chicago Futures: | Sep | down | 1/2 | at | 1090 1/2 |
| Nov | down | 2 1/2 | at | 996 1/2 |
| Jan '10 | down | 3 1/2 | at | 997 3/4 |
| Mar '10 | down | 3 3/4 | at | 993 1/2 |
| Jul '10 | down | 4 1/4 | at | 986 3/4 |
| Today's Arkansas LDP rate for soybeans is: | 0¢ |
Soybean Comment
While there is still concern about the stage of development, overall ratings continue to improve. That and a stronger dollar pressured soybeans. November appears to be in the process of establishing a trading range between $9.40 and $10.15.
The 09 corn crop ratings improved 2% in the good to excellent category. This seems to confirm the potential for yields above this months 159.5 bushels estimate. Every bushel per acre adds more than 80 million bushels to the growing supply. December continues to trade between $3.40 and $3.11 ½. A close to either side of this range will suggest further movement in the direction of the breakout.
Wheat
Cash bid for August at Memphis 336 3/4 to 373 3/4;
Bids to farmers at Local Elevators | n/a; |
River Elevators | 286-359; |
Chicago Futures: | Sep | up | 7 3/4 | at | 478 3/4 |
| Dec | up | 8 | at | 506 3/4 |
| Mar '10 | up | 8 | at | 526 1/4 |
| May '10 | up | 8 | at | 539 |
| Jul '10 | up | 8 1/4 | at | 551 3/4 |
| Today's Arkansas LDP rate for wheat is: | 0¢ |
Grain Sorghum
Cash bid for August at Memphis 556 to 563;
Bids to farmers at River Elevators | n/a; |
Today's Arkansas LDP rate for sorghum is: | 0¢ |
Corn
Cash bid for | August at Memphis 312 1/2 to 318 1/2; |
| new crop at Memphis n/a to - - -; |
Bids to farmers at River Elevators | 291 to 316 |
Chicago Futures: | Sep | down | 1 | at | 320 1/2 |
| Dec | down | 1/2 | at | 326 1/4 |
| Mar '10 | down | 1/2 | at | 340 |
| Jul '10 | down | 3/4 | at | 357 1/2 |
| Today's Arkansas LDP rate for corn is: | 0¢ |
Grain Comment
Wheat closed higher today.
Cotton & Rice Date: August 26, 2009
Cotton
Spot Price, Grade 41 Staple 34: | Memphis down 60 at 5087 |
| Greenwood down 60 at 5087 |
New York Futures: | Oct | down | 60 | at | 5537 |
| Dec | down | 68 | at | 5747 |
| Mar '10 | down | 71 | at | 5988 |
| May '10 | down | 70 | at | 6116 |
| - - - | | - - - | at | - - - |
This week's LDP rate for cotton is | 4.55 cents |
| The estimate for next week is | 5.69 cents |
Cotton Comment Cotton closed lower. Inability to hold support at 58 cents could see the market dip toward the late June low just below 55 cents. Poor overall demand and prospects of ending stocks remaining in the 6 million bale range will continue to pressure the market in the near term. Improving economic conditions should begin to gradually improve demand and work the market higher.
Rice
Long Grain Cash Bid for | Aug/Sep | 1241/cwt | to | - - - |
| Oct/Nov | 1233 | to | 1241/cwt |
Chicago Futures: | Sep | down | 7 | at | 1315 |
| Nov | down | 7 1/2 | at | 1340 1/2 |
| Jan '10 | down | 8 1/2 | at | 1364 1/2 |
| Mar '10 | down | 9 1/2 | at | 1388 |
| - - - | | - - - | at | - - - |
Today's Arkansas LDP rate for long grain rice is | 0¢ |
medium grain rice is | 0¢ |
Rice Comment Rice remains locked in a narrow trading range. A smaller long grain crop is expected to make stocks somewhat tighter as the marketing year progresses, but large international stocks could be a problem. With harvest activities moving along, buyers remain in a wait and see mode. November futures have moved to the 38% retracement area of $13.38 and slightly lower. Further pressure could move the market toward objectives at $13.11 and $12.85.
Cattle & Hogs Date: August 26, 2009 Cattle
As reported by Federal-State Market News, receipts were 1,419 head at sales in Conway & Pocahontas. Compared with last week, feeder steers sold steady to $2 lower, heifers sold near steady .
Steers: |
Medium & Large Frame 1 | 400 | to | 450 lbs. | 108.75 | to | - - - |
|
| 500 | to | 500 lbs. | 99.50 | to | - - - |
|
| 600 | to | 650 lbs. | 96.75 | to | - - - |
|
Medium & Large Frame 2 | 400 | to | 450 lbs. | 96 | to | - - - |
Heifers: |
Medium & Large Frame 1 | 400 | to | 450 lbs. | 96.50 | to | - - - |
|
Medium & Large Frame 2 | 400 | to | 450 lbs. | 85.50 | to | - - - |
Slaughter Cows, Boners 42 to 46.50
Light Weight 25 to 30
Bulls, Yield Grade 1 1400 to 2300 lbs. 55 to 60, high dressing untested
Midwest Steers were $1 higher to steady at 82 to - - -
Panhandle Steers were $1 higher to steady at 82 to - - -
Oklahoma City Feeders
|
Steers | 550 | to | 600 lbs. | 105 | to | 111.35 |
| 600 | to | 650 lbs. | 104 | to | 108.25 |
Heifers | 500 | to | 550 lbs. | 100 | to | 104.25 |
| 600 | to | 650 lbs. | 92 | to | 95.50 |
Chicago Futures: Live Cattle: | Oct | down | 137 | at | 8737 |
| Dec | down | 90 | at | 8757 |
Feeders: | Sep | down | 67 | at | 9930 |
| Nov | down | 75 | at | 9970 |
Cattle Comment
Cattle futures ended the day lower. In the cash market, packers remain on the sideline and arent expected to be active until late in the week. Choice cutout values are at the highest level since May and packer margins are good.
Hogs Peoria: were steady at 24 to 26
Chicago Futures: | Oct | down | 125 | at | 4705 |
| Dec | down | 170 | at | 4540 |
Sheep St. Paul sheep shorn slaughter lambs at n/a to - - -
Hogs Comment
Hog futures closed lower as the market appears to be in a bottoming mode.
Poultry Date: August 26, 2009 Eggs
New York: | Ex. Lg. 94-98; Lg. 92-96; Med. 67-71; |
Chicago: | Ex. Lg. 83-91; Lg. 81-89; Med. 58-66; |
Eastern Region Turkeys Hens: | 8-16 lbs. | 80-82 |
Toms: | 16-24 lbs. | 79.5-82 |
| | |
Delmarva Broilers U.S. Grade AThe market tone was steady. Supplies of all sizes were moderate to satisfy trade needs. In production areas, live supplies were moderate at desirable weights.
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