AFB Grain-Soybean Close: Corn, Soybeans Recover, Wheat Mixed

Ernst Undesser
By Ernst Undesser October 29, 2013 16:41

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Soybean Comment

Soybeans recovered a bit of yesterday’s big losses in today’s trade on ideas that the losses were overdone. Export inspections came in at an official 86.3 million bushels. Analysts were not even in the ballpark this week, with average trade expectations before the report at 46-54 million. However, harvest pressure and a sharp increase in planted acreage in South America continue to hang over the market. For now, November has resistance at last Wednesday’s high of $13.18, with support at $12.61.

Wheat Comment

Wheat futures were mixed today. July has moved back below $7, with the first level of support near $6.81. Russian prices are climbing due to supply issues there, which is good news for U.S. exporters.

Corn Comment

Corn futures were fractionally to a penny higher after moving to new lows in early dealings. Recent weakness brings the $4.25- $4.00 level into play. Comfortable world stocks and harvest pressure are to blame for the weakness. Basis levels are improving, though, as farmers are moving corn to their bins rather than selling at these low prices

        
         

Soybeans

High Low
Cash Bids 1293 1224
New Crop 1316 1251

 

Riceland Foods

Cash Bids Stuttgart: 1289 Pendleton: 1299
New Crop Stuttgart: 1129 Pendleton: 1144

 

Futures:
High Low Last Change
Nov ’13 1280.50 1268.00 1279.00 +7.75
Jan ’14 1274.25 1264.50 1270.75 +2.75
Mar ’14 1258.00 1248.25 1254.75 +4.00
May ’14 1244.50 1234.50 1241.75 +4.75
Jul ’14 1239.25 1229.00 1237.00 +6.00
Aug ’14 1229.50 1220.25 1226.75 +7.00
Sep ’14 1193.25 1185.50 1190.75 +7.00
Nov ’14 1165.00 1154.25 1164.00 +6.75
Jan ’15 1169.00 1160.00 1169.00 +6.75

Arkansas Daily Grain Report

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Wheat

High Low
Cash Bids 711 582
New Crop 712 684

 

Futures:
High Low Last Change
Dec ’13 684.75 676.25 681.25 +0.25
Mar ’14 695.50 687.50 692.50 +0.50
May ’14 700.50 693.00 697.00 -0.50
Jul ’14 692.75 685.50 689.50 -0.50
Sep ’14 700.00 692.50 697.00 -1.25
Dec ’14 709.50 703.50 707.50 -0.25
Mar ’15 713.00 0.00
May ’15 713.25 -0.25
Jul ’15 706.25 703.00 707.25 0.00

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Grain Sorghum

High Low
Cash Bids 439 430
New Crop 488 478

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn

High Low
Cash Bids 435 381
New Crop 454 417

 

Futures:
High Low Last Change
Dec ’13 434.00 428.25 432.00 +1.25
Mar ’14 446.50 441.00 444.25 +1.00
May ’14 455.00 449.50 452.75 +0.75
Jul ’14 462.75 457.00 460.00 +0.25
Sep ’14 469.50 464.00 466.50 -0.25
Dec ’14 477.75 472.50 475.00 0.00
Mar ’15 487.25 482.25 484.75 0.00
May ’15 489.50 -0.25
Jul ’15 494.00 490.00 491.75 -1.25

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

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Ernst Undesser
By Ernst Undesser October 29, 2013 16:41

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