Agfax Buzz:

    October 22, 2013

    AFB Grain-Soybean Close: Corn, Soybeans Drop, Wheat Makes Slight Gains

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Soybean Comment

    Soybeans posted slight losses today after early gains. November ran into resistance at $13.05 before retreating. Yield reports continue to indicate impressive yields, making a national average of 42 bushels per acre a possibility. A sharp increase in planted acreage in South America will limit the upside potential of the market.

    Wheat Comment

    Wheat price showed some strength today, posting modest gains today. Strong global demand remains supportive for prices. However, price gains will likely be short lived as winter plantings look good in both the U.S. and Europe. Producers growing wheat for 2014 should consider pricing some wheat now, as new crop bids remain in the $6.75 range.

    Corn Comment

    Corn prices fell today, as the USDA released a new crop progress report yesterday. While harvested acres continue to trail previous year, the quality of the crop is getting better and yield reports remain good. With the reports once again flowing, expect corn prices to begin to trend lower as we look towards the November report. With December corn falling below $4.40 today, prices are like to test lows around $4.30. It is likely that this week’s export sales report could provide some temporary support to the market as prices move close to oversold territory. Given the current market expectations corn will likely look for a new harvest low before Thanksgiving




    Soybeans

    High Low
    Cash Bids 1333 1256
    New Crop 1348 1320

     

    Riceland Foods

    Cash Bids Stuttgart: 1312 Pendleton: 1322
    New Crop Stuttgart: 1140 Pendleton: 1155

     

    Futures:
    High Low Last Change
    Nov ’13 1305.50 1292.00 1302.25 -1.00
    Jan ’14 1301.00 1290.00 1297.50 -3.00
    Mar ’14 1281.00 1271.75 1278.00 -3.75
    May ’14 1264.00 1255.00 1260.50 -4.00
    Jul ’14 1260.25 1250.75 1256.75 -3.75
    Aug ’14 1247.25 1239.75 1245.50 -3.25
    Sep ’14 1207.50 1200.75 1206.00 -3.25
    Nov ’14 1176.00 1167.50 1174.50 -2.75
    Jan ’15 1180.00 1176.00 1179.50 -2.50

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops

    Wheat

    High Low
    Cash Bids 695 600
    New Crop 730 702

     

    Futures:
    High Low Last Change
    Dec ’13 704.50 696.00 700.75 +1.00
    Mar ’14 714.25 705.75 710.75 +1.00
    May ’14 717.00 709.00 713.75 +1.00
    Jul ’14 706.00 697.50 702.75 +2.75
    Sep ’14 711.50 706.00 707.75 +2.75
    Dec ’14 719.50 712.00 716.25 +3.25
    Mar ’15 725.00 719.75 720.75 +3.25
    May ’15 718.50 +2.25
    Jul ’15 715.00 705.00 707.00 +4.75

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops

    Grain Sorghum

    High Low
    Cash Bids 459 452
    New Crop 503 494

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops

    Corn

    High Low
    Cash Bids 444 394
    New Crop 465 436

     

    Futures:
    High Low Last Change
    Dec ’13 444.50 437.50 438.25 -5.75
    Mar ’14 457.00 450.25 451.00 -5.75
    May ’14 465.50 458.75 459.25 -6.00
    Jul ’14 472.50 466.50 467.00 -5.00
    Sep ’14 478.25 472.50 473.25 -4.50
    Dec ’14 486.25 480.50 481.25 -4.50
    Mar ’15 494.75 490.75 491.00 -4.50
    May ’15 499.75 496.00 496.50 -4.50
    Jul ’15 503.00 498.75 499.00 -4.50

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops


    Tags: , , , , , , , , ,

    Leave a Reply

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

    Sunbelt News

      Chicago Board of Trade Closed Monday, Labor Day – September 108-29

      Rose on Cotton: Plenty of Gaps and No Rallies Expected08-29

      Peanut Harvest In N. Fla.; Drought Pushes Digging In Lower SE – AgFax08-29

      Rice Crop: Looking for a Normal Crop, Not a Bumper08-29

      Rice Market: Being Short Tricky but Being Long Takes Patience08-29

      Grain TV: Early Southern Harvest Pressures Basis Levels08-29

      Peanut Stocks and Processing: Utilization Up 2%, Stocks at 1.9B lbs08-29

      Cleveland on Cotton: Chinese Demand Pulling Prices Higher08-29

      DTN Livestock Close: Cattle Futures Sharply Higher on Positive Cash News08-29

      Doane Cotton Close: Futures Unable to Recover Losses08-29

      DTN Cotton Close: Late Rally Leaves Dec. Flat08-29

      AFB Grain-Soybean Close: Modest Losses Across the Board08-29

      AFB Cotton Close: Dec. Moves Fractionally Lower08-29

      AFB Rice Close: Futures Chart New Leg Down08-29

      Farm Bill: Cotton Transition Assistance Enrollment Now Open08-29

      Are USDA Corn Yield Forecasts Getting Better or Worse Over Time?08-29

      DTN Grain Close: Markets Settle Lower Ahead of 3 Day Weekend08-29

      USDA: Peanut Price Highlights08-29

      DTN Livestock Midday: Hog Futures Surge Higher08-29

      Farmers with Foreign Assets Face New IRS Rules and Serious Penalties08-29

      DTN Grain Midday: All 3 Markets Slide Lower08-29

      Mississippi Outdoors: Beaver Management Not a Simple Issue08-29

      Arkansas: Flood Damage to Crops Valued at $35.6M08-29

      Delta Soybean Yields Start Strong; Sugarcane Aphid Marches On – AgFax08-29

      California: Pinnacle Announces Acquisition of Kerman Ag Resources08-29