Agfax Buzz:

    October 29, 2013

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

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    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

    FOB Memphis Elevator Crops

    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

    Tags: , , , , , , , ,

    Leave a Reply

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 Your email will not be published or shared with third parties.