Agfax Buzz:

    December 12, 2012

    AFB Grain-Soybean Close: Soybeans Mixed, Wheat, Corn Continue Lower

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Soybean Comment
    Soybeans again rallied from early declines to close mixed. The market was pressured early by improving crop conditions in South America and technical selling on demand concerns. Positive outside markets, including higher equities and crude oil, also provided support. For now January had resistance near $15.

    Grain Comment
    Wheat futures continued lower today. The selloff began yesterday when USDA raised its U.S. carryout estimate by 7% from the November report. World stocks were raised by 1.6%. July looks headed for a retest of support at $8.25.

    Corn continued lower, although losses were trimmed after the Fed confirmed a new bond buying program for 2013. Slow export demand and reduced ethanol production continue to weigh on the market. March futures are being pushed toward support around $7.10.


    Soybeans

    Local Elevators:
    (Dec) EAST AR:  1447 to 1486
    (NC) Summ. 1484 to – - -
    River Elevators:
    (Dec) MISS: 1494 to 1524 ; AR & White 1448 to 1492
    (NC) Summ. 1469 to 1525
    Ark. Processor Bids: (Dec) 1474 to 1494  (NC) 1494 to – - -
    Memphis:  (Dec) 1525 1/2 to 1527 1/2 (NC)  1308 1/2 to – - -
    Riceland Foods:  (Dec) Stuttgart 1474 ; Pendleton 1486
    (NC) Stuttgart 1294 ; Pendleton 1302

    Chicago Futures: Jan up 1 1/2 at 1473 1/2
    March down 3/4 at 1470 1/2
    May down 4 at 1455
    July down 5 1/4 at 1440 3/4
    Aug down 2 3/4 at 1411 1/4
    Today’s Arkansas LDP rate for soybeans is:

    Wheat
    Cash bid for December at Memphis  808 to 812;

    Bids to farmers at Local Elevators 793-808;
    River Elevators 790-818;

     

    Chicago Futures: Dec down 11 at 794 3/4
    March down 9 1/2 at 812
    May down 9 1/4 at 824 1/2
    July down 9 1/2 at 832 3/4
    Sept down 8 1/4 at 844 3/4
    Today’s Arkansas LDP rate for wheat is:

    Grain Sorghum
    Cash bid for December at Memphis  1171 to 1179;

    Bids to farmers at River Elevators 1117-1162;
    Today’s Arkansas LDP rate for sorghum is:

    Corn

    Cash bid for December at Memphis   729 1/2 to 730 1/2;
    New Crop at Memphis   607 to 617;
    Bids to farmers at River Elevators 717 to 736

     

    Chicago Futures: Dec down 3 1/4 at 721
    March down 2 1/2 at 725 1/2
    May down 2 at 728 1/2
    July down 2 1/4 at 724
    Today’s Arkansas LDP rate for corn is:

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