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  3. Alabama-Florida Peanut Trade Show, Dothan, February 11

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  5. Ohio: Agronomy Workshops, Wooster, Feb. 15, 16

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  6. Louisiana: Irrigation Management Workshop, Marksville, Feb. 16-17

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  7. Tennessee: Irrigation Meeting, Somerville, Feb. 16

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  8. Tennessee: Cotton Focus Meeting, Jackson, Feb. 18

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  9. Illinois: Ag Tech Innovation Summit, Champaign, Feb. 18

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  10. Texas: Oil, Gas Leasing Workshop, College Station, Feb. 22

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  11. Georgia: Required Classroom Trainings for Auxin Herbicide Tolerant Crops

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  12. Texas: Wild Pig Management Workshop, Burnet, Feb. 24

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  13. Mississippi: Ag Waste Disposal Day, Charleston, Feb. 24

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  14. Virginia: USDA Agricultural Outlook Forum, Arlington, Feb. 25-26

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  15. Georgia: Pest Manager Training, Forsyth, Feb. 25

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  16. Tennessee: Winter Row Crop Marketing Meeting, Mason, Feb. 25

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  20. Kentucky: IPM Training, Princeton, March 2

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  21. Texas: Regional Sorghum Program, Plainview, March 3

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  22. Indiana Small Farm Conference, Danville, March 4-5

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  23. Kansas: 103rd Annual Cattlemen’s Day, Manhattan, March 4

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  24. Kentucky: Integrated Pest Management Training, Princeton, March 2

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  25. Oklahoma: Irrigation Conference, Woodward, March 8

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  26. Oklahoma: Pecan Management Course, Stillwater, March 8

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  27. Missouri: Free Pesticide Collection Event, Portageville, March 12

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  28. Florida: Carinata Summit, Quincy, March 15-16

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AFB Grain-Soybean Close: Wheat Continues Climb, Corn, Beans Drop Further

Ernst Undesser
By Ernst Undesser July 3, 2014

Soybean Comment

Soybean prices closed lower again today as the November contract closed down almost a dollar from last Fridays close after Monday’s USDA report forecast record soybean acreage in the US. While declines of recent weeks have pushed prices into over sold territory, weak fundamentals will likely limit any potential gains in this market and likely push prices to test February lows of $10.88. Much like with corn, large supplies could push stocks sharply higher and lead to soybean prices at or below $10 not only for this year but also for 2015.

Wheat Comment

Wheat prices continued to strengthen today thanks to technical signals, which pushed wheat back over $6. While wheat prices have little fundamental support to move higher as large supplies and weak demand continue to plague this market this market is oversold and due some gains. Look for this market to try and test resistance at $6.12.

Corn Comment

Corn prices continued to decline today as the market down some 32-cents following Monday’s bearish USDA report. The prospect for higher prices remains bleak, as record production is forecast for 2014. While there has been some flooding in the Midwest it is no expected to have a major impact on the crop. With large supplies will come large stocks, which will continue to push prices sharply lower, not only 2014, but also into 2015.

        
         

Soybeans

High Low
Cash Bids 1404 1282
New Crop 1174 1082

 

Riceland Foods

Cash Bids Stuttgart: 1137 Pendleton: 1144
New Crop Stuttgart: – – – Pendleton: – – –

 

Futures:
High Low Last Change
Jul ’14 1399.75 1387.00 1387.75 -4.75
Aug ’14 1321.50 1297.25 1299.75 -15.00
Sep ’14 1186.00 1164.50 1166.75 -13.50
Nov ’14 1147.50 1132.75 1133.50 -8.00
Jan ’15 1155.25 1141.00 1142.00 -7.75
Mar ’15 1164.00 1149.50 1150.00 -8.00
May ’15 1170.75 1157.25 1158.00 -7.50
Jul ’15 1177.75 1163.25 1165.00 -8.00
Aug ’15 1172.00 1163.75 1162.50 -8.00

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Wheat

High Low
Cash Bids 565 501
New Crop 622 597

 

Futures:
High Low Last Change
Jul ’14 568.75 559.75 568.00 +6.25
Sep ’14 581.00 572.00 579.50 +4.00
Dec ’14 605.00 595.25 603.75 +5.50
Mar ’15 629.25 619.00 627.50 +5.75
May ’15 643.75 634.00 642.25 +5.25
Jul ’15 654.50 644.50 652.75 +3.75
Sep ’15 662.75 653.75 662.25 +3.00
Dec ’15 672.00 664.25 672.50 +1.75
Mar ’16 678.25 +1.75

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Grain Sorghum

High Low
Cash Bids 439 362
New Crop 463 347

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

Corn

High Low
Cash Bids 448 403
New Crop 413 369

 

Futures:
High Low Last Change
Jul ’14 420.25 416.25 417.00 -1.50
Sep ’14 414.00 409.00 409.50 -2.75
Dec ’14 419.75 414.50 415.25 -2.75
Mar ’15 430.75 426.00 426.75 -2.50
May ’15 438.00 433.75 434.25 -2.50
Jul ’15 444.75 440.75 441.25 -2.50
Sep ’15 444.00 441.50 442.25 -1.50
Dec ’15 446.50 443.75 445.00 +0.25
Mar ’16 455.75 454.25 454.50 0.00

Arkansas Daily Grain Report

FOB Memphis Elevator Crops

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Ernst Undesser
By Ernst Undesser July 3, 2014