Grain & Soybean Date: January 25, 2012
Soybeans
Local Elevators:
(Jan) EAST AR: 1188 to 1216
(NC) Summ. 1173 to 1194
River Elevators:
(Jan) MISS: 1242 to 1244 ; AR & White 1197
to 1231
(NC) Summ. 1184 to 1218
Ark. Processor Bids: (Jan) 1209 to 1212
(NC) 1189 to 1194
Memphis:
(Jan) 1246 1/2 to 1248 1/2 (NC)
1218 3/4 to 1223 3/4
Riceland Foods:
(Jan) Stuttgart 1219 ; Pendleton
1221
() Stuttgart ; Pendleton
| Chicago Futures: |
March |
up |
6 1/2 |
at |
1213 1/2 |
| |
May |
up |
6 |
at |
1222 3/4 |
| |
July |
up |
5 1/2 |
at |
1232 1/2 |
| |
Aug |
up |
3 3/4 |
at |
1230 1/4 |
| |
Nov'12 |
up |
6 |
at |
1213 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed mixed with a late rally boosting values. The Fed confirmed they will keep interest rates low through 2014. This gave outside markets a positive twist. Recent rains in South America kept some pressure on old crop contracts. In general, it should be noted that long term trend in soybeans is down, highs for 2012 have likely been made and rebounds should be used to increase sales.
Wheat
Cash bid for January at Memphis 661 1/4 to - - -;
| Bids to farmers at Local Elevators |
621-646; |
| River Elevators |
671-672; |
| Chicago Futures: |
March |
up |
7 3/4 |
at |
641 1/4 |
| |
May |
up |
5 1/2 |
at |
656 1/4 |
| |
July |
up |
5 |
at |
671 1/4 |
| |
Sept |
up |
4 |
at |
687 |
| |
Dec |
up |
2 |
at |
703 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1115 to 1124;
| Bids to farmers at River Elevators |
1071-1134; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
669 1/2 to - - -; |
| |
New Crop at Memphis
572 to - - -; |
| Bids to farmers at River Elevators |
648 to 659 |
| Chicago Futures: |
March |
up |
4 1/4 |
at |
634 1/2 |
| |
May |
up |
5 |
at |
640 1/4 |
| |
July |
up |
5 1/2 |
at |
644 |
| |
Sept |
up |
6 |
at |
587 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures continued higher today. Short covering by the funds and improved export demand were given the credit for today’s strength.
Corn closed slightly higher with nearby contracts a little stronger than new crop. Traders remain concerned about potential U.S. production in 2012. A Big acreage plus return to trendline yields means potential big stocks at the end of the next marketing year. Like soybeans corn has likely made seasonal tops. The market will have rebounds which should be taken as pricing opportunities.
Cotton & Rice Date: January 25, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 176 at
9042 |
| |
Greenwood down
176 at 9042 |
| New York Futures: |
March |
down |
126 |
at |
9692 |
| |
May |
down |
118 |
at |
9736 |
| | July |
down |
101 |
at |
9764 |
| | Oct |
down |
46 |
at |
9719 |
| | Dec 12' |
up |
28 |
at |
9469 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed lower with a late rally trimming early losses. State of the Union comments dealing with China trade probably were viewed as negative and contributed to early weakness. The Feds confirmation of continued low interest rates was positive for the market. March resistance near a dollar and December around 95 cents may be difficult to break.
Rice
| Long Grain Cash Bid for |
Jan |
1279/cwt |
to |
- - - |
| |
- - - |
- - - |
to |
- - - |
| Chicago Futures: |
March |
down |
25 |
at |
1459 |
| | May |
down |
30 |
at |
1486 1/2 |
| | July |
down |
25 |
at |
1514 |
| | Sept |
unchanged |
0 |
at |
1507 |
| | Nov |
down |
5 |
at |
1528 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were slightly lower for the day. There is little fresh news in the market. Informa projected 2012 plantings at 2.68 million acres down slightly from 2011. Arkansas plantings are projected to be 1.15 million acres down 46,000 from 2011. Much of the decline is expected to be medium grain. Slow exports will continue to limit upside potential.
Cattle & Hogs Date: January 25, 2012
Cattle
As reported by Federal-State Market News, receipts were 691 head
at sales in Conway and Pocahontas.
Compared with last week, feeder steers sold firm $4 to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
175.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
161.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
147.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
155 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
146 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
136 |
to |
- - - |
Slaughter Cows, Boners 67 to 75
Light Weight 48 to 53
Bulls, Yield Grade 1
1000 to 2100 lbs. 80
to 87.50
Midwest Steers were at 121
to - - -
Panhandle Steers were at 121
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
168.50 |
to |
180.50 |
| |
550 |
to |
600 lbs. |
162 |
to |
173.50 |
| Heifers |
500 |
to |
550 lbs. |
154 |
to |
160 |
| |
550 |
to |
600 lbs. |
147 |
to |
150.25 |
Chicago Futures:
| Live Cattle: |
Feb |
up |
5 |
at |
12585 |
| |
April |
steady |
0 |
at |
12917 |
| Feeders: |
March |
up |
12 |
at |
1550 |
| |
Aug |
up |
32 |
at |
15915 |
Cattle Comment
Cattle futures were barely on the plus side of unchanged today. A big jump in cutout values Monday caused the market to gap higher yesterday. However, weak packer margins could limit any upside for cash bids.
Hogs
Peoria: were 50 cents to $1 higher
at 57 to 59
| Chicago Futures: |
Feb |
up |
60 |
at |
8662 |
| |
April |
up |
37 |
at |
8822 |
Hogs Comment
Hog futures regained some of yesterday’s big losses. April failed at resistance at $89.42 earlier in the week. Pork prices should have bottomed at this point, and are expected to gradually improve into spring. However, packer margins are still in negative territory, which could limit upside potential short-term.
Poultry Date: January 25, 2012
Eggs
| New York: |
Ex. Lg. 103-107; Lg. 101-105; Med. 88-92; |
| Chicago: |
Ex. Lg. 96-104; Lg. 94-102; Med. 79-87; |
National Turkeys
| Hens: |
8-16 lbs. |
89 |
| Toms: |
16-24 lbs. |
89 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are steady at best. Offerings are light to moderate. Demand is light to moderate with trading usually limited to regular commitments. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.