Agfax Buzz:

    December 5, 2012

    AFB Grain-Soybean Close: Soybeans Lead Across the Board Gains

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Soybean Comment
    Soybeans continued to edge higher today with a technical assist as January moved above recent resistance near $14.60. Reports out of Brazil have lowered the soybean crop estimate there, while wet conditions are delaying planting in Argentina. It didn’t hurt that China is buying beans to be shipped out of the Pacific Northwest. Technically the market has some resistance beginning near $14.85 and then $15. Long term, the market has a 38% retracement objective of $15.30, and a 50% at $15.78.

    Grain Comment
    Wheat futures were higher today. Continuing dry conditions across the plains remain a supportive factor. Current price levels are less than competitive which is limiting export sales.

    Corn closed higher, remaining near the top of sideways trading ranges. Concern about the drought conditions continues as a noted meteorologist indicated that precipitation is often below normal following a major drought. Moisture levels are expected to improve but not totally recharge sub-soil needs. Further suggesting less than trend line yields for corn in 2013.


    Local Elevators:
    (Dec) EAST AR:  1452 to 1494
    (NC) Summ. 1494 to – - -
    River Elevators:
    (Dec) MISS: 1507 to 1529 ; AR & White 1454 to 1509
    (NC) Summ. 1474 to 1529
    Ark. Processor Bids: (Dec) 1479 to 1499  (NC) 1499 to – - -
    Memphis:  (Dec) 1521 1/4 to 1531 1/4 (NC)  1322 to – - -
    Riceland Foods:  (Dec) Stuttgart 1479 ; Pendleton 1491
    (NC) Stuttgart 1302 ; Pendleton 1307

    Chicago Futures: Jan up 23 3/4 at 1479 1/4
    March up 23 1/2 at 1473 3/4
    May up 22 3/4 at 1450 3/4
    July up 22 3/4 at 1439 1/2
    Aug up 21 at 1412 3/4
    Today’s Arkansas LDP rate for soybeans is:

    Cash bid for December at Memphis  867 to 872;

    Bids to farmers at Local Elevators 830-845;
    River Elevators 835-855;


    Chicago Futures: Dec up 3 3/4 at 842 1/4
    March up 3 1/2 at 860
    May up 3 1/4 at 868 1/2
    July up 3 1/4 at 869 1/2
    Sept up 3 at 877 3/4
    Today’s Arkansas LDP rate for wheat is:

    Grain Sorghum
    Cash bid for December at Memphis  1237 to 1246;

    Bids to farmers at River Elevators 1175-1219;
    Today’s Arkansas LDP rate for sorghum is:


    Cash bid for December at Memphis   769 3/4 to 777 3/4;
    New Crop at Memphis   627 to 635;
    Bids to farmers at River Elevators 769 to 788


    Chicago Futures: Dec up 6 3/4 at 753 1/4
    March up 5 3/4 at 757 3/4
    May up 5 1/2 at 758 1/2
    July up 4 1/2 at 752 3/4
    Today’s Arkansas LDP rate for corn is:

    Tags: , , , , , , , , ,

    Leave a Reply

    Name and Email Address are required fields. Your email will not be published or shared with third parties.

    Sunbelt News

      Resistant Palmer Pigweed: What People Need To Know Before It Hits – AgFax04-17

      Chemical Safety Board Plans Meeting in West, Texas — DTN04-17

      West, Texas, Recovers and Rebuilds with Cautious Approach — DTN04-17

      DTN Cotton Open: Trades Slightly Lower Nearby04-17

      U.S. Energy: Oil and Gas Spending Favors Exploration, Development04-17

      Gasoline Prices: Average Jumps 6 Cents04-17

      Propane Stocks: Increase by 0.8M Barrels04-17

      Diesel Prices: Average Down a Penny04-17

      DTN Livestock Open: Meat Contracts to Start Lower04-17

      Victims of West, Texas, Explosion Remembered — DTN04-17

      DTN Grain Open: Higher Start Led by Soybeans04-17

      Keith Good: Beige Book — Observations on Ag Economy04-17

      Keith Good: China’s Rejection of GMO Corn May Have Cost U.S. Ag $2.9B04-17

      DTN Livestock Close: Lean Hog Futures Rebound With Triple-Digit Advance04-16

      Doane Cotton Close: Strong Finish Despite Continued Dry Weather04-16

      “Agricultural Adventure” Educate Public on Modern Farming – DTN04-16

      International Buying and Selling a Balancing Act to Get the Best Deal – DTN04-16

      AFB Grain-Soybean Close: Corn, Wheat Fall, Beans Move Higher04-16

      AFB Cotton Close: Regains Losses and Then Some04-16

      AFB Rice Close: Higher After Relatively Wide Trade04-16

      DTN Cotton Close: Triple-Digit Old-Crop Gains04-16

      DTN Grain Close: New Highs In Soybeans; Corn, Wheat Fall Back04-16

      DTN Livestock Midday: Lean Hogs Show Strong Gains04-16

      DTN Grain Midday: Soybean Trade Remains Higher04-16

      AgFax Rice Review: Recent Rains Won’t Help CA Farmers; Japanese Varieties Grown in U.S.04-16