Agfax Buzz:

    January 21, 2014

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

    AgFax.Com - Your Online Ag News Source

    Closing commodity reports from the Arkansas Farm Bureau Commodity Staff.

    Soybean Comment

    Soybeans sold off hard today. Rains in Argentina are improving yield prospects there. Technical selling was also a factor. U.S. acreage is widely expected to be up from 2013. If these acreage gains and normal yields are realized the tight soybean supplies we continue to discuss would likely be solved. With global stocks already at comfortable levels, if U.S. stocks were to increase it would open the downside risk in the market. March has a downside objective of the January low of $12.62 ½.

    Wheat Comment

    Wheat prices fell again today, as export inspections were less than trade expectations. Disappointing exports combined with the selloff we saw in soybeans pushed wheat to new contract lows. Large global supplies and weakness in outside markets are likely to continue to push wheat prices lower.

    Corn Comment

    Corn prices closed mixed today. Nearby contracts strengthened as today’s export inspections report beat trade expectations. However, the September contract and beyond saw declines as improving weather in South America led to double digit declines in soybeans. Look for the corn and soybean contract for the fall to follow each other closely in the coming weeks as the market works to ensure adequate corn and soybean acreage is planted in 2014.




    Soybeans

    High Low
    Cash Bids 1392 1302
    New Crop 1346 1342

     

    Riceland Foods

    Cash Bids Stuttgart: 1311 Pendleton: 1311
    New Crop Stuttgart: 1099 Pendleton: 1124

     

    Futures:
    High Low Last Change
    Mar ’14 1314.00 1280.00 1280.50 -36.00
    May ’14 1295.50 1263.25 1264.00 -33.25
    Jul ’14 1280.50 1248.75 1249.75 -32.25
    Aug ’14 1238.50 1213.50 1214.75 -26.50
    Sep ’14 1172.75 1149.75 1151.75 -19.75
    Nov ’14 1128.00 1106.00 1109.00 -16.00
    Jan ’15 1133.00 1111.75 1114.50 -15.75
    Mar ’15 1128.25 1116.25 1119.00 -16.00
    May ’15 1126.75 1117.25 1120.25 -15.75

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops

    Wheat

    High Low
    Cash Bids 609 517
    New Crop 608 608

     

    Futures:
    High Low Last Change
    Mar ’14 567.75 560.75 562.25 -1.25
    May ’14 574.25 567.75 569.00 -1.50
    Jul ’14 581.00 574.50 575.50 -1.50
    Sep ’14 589.75 583.50 584.75 -1.00
    Dec ’14 602.75 596.50 597.50 -1.00
    Mar ’15 612.25 607.00 607.75 -1.00
    May ’15 609.25 -1.75
    Jul ’15 605.50 605.00 602.75 -3.00
    Sep ’15 609.50 -2.50

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops

    Grain Sorghum

    High Low
    Cash Bids 478 399
    New Crop

    Arkansas Daily Grain Report

    FOB Memphis Elevator Crops

    Corn

    High Low
    Cash Bids 454 429
    New Crop 459 440

     

    Futures:
    High Low Last Change
    Mar ’14 425.75 421.00 425.00 +1.00
    May ’14 432.75 428.25 432.25 +0.50
    Jul ’14 439.00 434.75 438.50 0.00
    Sep ’14 443.50 439.75 442.50 -0.75
    Dec ’14 449.00 445.25 447.00 -2.00
    Mar ’15 458.25 454.75 456.75 -2.00
    May ’15 464.50 462.00 463.00 -2.25
    Jul ’15 468.25 466.50 466.50 -3.50
    Sep ’15 460.00 460.00 460.25 -2.50

    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

      Cleveland on Cotton: Heavy Hat Sitting on 67-68 Cent Mark08-22

      Rice Crop: Harvest Progresses in Texas, Louisiana; Arkansas Farmers Unpaid08-22

      Rose On Cotton: Positive Signs, Mostly08-22

      Rice Market: Futures Push to New High Before Hit with Selling Pressure08-22

      Peanuts – Drought, Dry-Weather Pests Persist in Lower Southeast – AgFax08-22

      Southern Soybeans – Midsouth Harvest Widens – AgFax08-22

      Grain TV: High Wheat Exports, Sky Rocketing Soy Basis08-22

      Rice Harvest Starts In Arkansas, Barely – AgFax08-22

      Cotton In Midsouth – Bollworms Build – AgFax08-22

      DTN Livestock Close: Cattle Futures End Week With Short-Covering Rally08-22

      Mississippi Hunting: Plant Proper Fields for Upcoming Dove Season08-22

      AFB Grain-Soybean Close: Ukraine Conflict Again Boosts Prices08-22

      AFB Cotton Close: Higher in Narrow Trade08-22

      AFB Rice Close: Futures Unchanged to Lower08-22

      DTN Cotton Close: October Leads Rally Higher08-22

      Taxes: Donating Crops Can Mean Substantial Tax Savings08-22

      DTN Grain Close: Markets Ignore the Bear, Climb Higher08-22

      Georgia Peanut Commission Promotes Consumption Through Sporting Events08-22

      USDA: Peanut Price Highlights08-22

      Georgia: Pecan Growers Association Field Day, Tifton, Sept. 408-22

      Mississippi Soybeans: Growers Anticipate Record Yield08-22

      DTN Livestock Midday: October Live Cattle Futures Push Higher08-22

      DTN Grain Midday: Trade Still Higher Across Board08-22

      Farming on the Mother Road: Change is Operative Word in New Mexico – DTN08-22

      Mississippi: Cool-Season Food Plots Benefit Wildlife, Diversity08-22