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Daily Market Report Archive

Grain & Soybean Date: January 26, 2012

Soybeans

Local Elevators:
(Jan) EAST AR:  1197 to 1225
(NC) Summ. 1180 to 1202
River Elevators:
(Jan) MISS: 1252 to 1258 ; AR & White 1206 to 1241
(NC) Summ. 1192 to 1232
Ark. Processor Bids: (Jan) 1221 to 1228  (NC) 1202 to 1207
Memphis:  (Jan) 1252 3/4 to 1257 3/4 (NC)  1229 3/4 to 1231 3/4
Riceland Foods:  (Jan) Stuttgart 1225 ; Pendleton 1225 
 () Stuttgart  ; Pendleton  

Chicago Futures: March up 9 1/4 at  1222 3/4
  May  up  9 1/4  at  1232
  July up 9 1/4  at  1241 3/4
  Aug up 9 1/4  at  1239 1/2
  Nov'12 up at  1221 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed higher again today as outside markets provided support early in the session. Both old and new crop contracts are poised to potentially test the next resistance around $12.50.

Wheat
Cash bid for January at Memphis  677 1/2 to 678 1/2;

Bids to farmers at Local Elevators 630-655;
River Elevators 685;

Chicago Futures: March up  12 1/4  at  653 1/2 
  May up 10 1/2  at  666 3/4 
  July up  8 3/4  at  680 
  Sept up  7 1/2  at  694 1/2 
  Dec up  7 3/4  at  711 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  11124 to 1133;

Bids to farmers at River Elevators 1071-1134;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   664 1/2 to 675 1/2;
  New Crop at Memphis   573 3/4 to - - -;
Bids to farmers at River Elevators  647 to 670

Chicago Futures: March unchanged  at  634 1/2 
  May down  at  640 
  July down  at  643 3/4 
  Sept up  1 3/4  at  588 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were higher today, mostly on carryover support from outside markets. The potential for production problems in the Ukraine and in Russia were also supportive.

Corn closed steady to slightly higher but well off the day’s highs despite positive fundamental news. Export sales appear to be improving and use for ethanol while down from December remains better than prior to that time. Corn is continuing to retrace big losses that followed the January report. December resistance around $5.90 could be hard to exceed.



Cotton & Rice  Date: January 26, 2012


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 133 at  8909
  Greenwood down  133 at 8909

New York Futures: March down  133  at  9559 
  May down  132  at  9604 
 July down  127  at  9637 
 Oct down  102  at  9617 
 Dec 12' down  44  at  9425 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was sharply lower as the market hasn’t been able to work through key resistance. World demand will have to increase to allow the market to move above the dollar level.

Rice

Long Grain Cash Bid for  Jan 1260  to  1282/cwt
  - - - - - -  to  - - -

Chicago Futures: March up  10  at  1469 
 May up  10  at  1496 1/2 
 July up  10  at  1524 
 Sept up  at  1516 
 Nov up  5 1/2  at  1534 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice firmed in today’s trade but remains in a narrow range that has contained the market for the last 4 weeks. It appears the U.S. didn’t get any of the Iraq tender that was completed today. Early thoughts were U.S. would get into that market for the first time in well over a year.



Cattle & Hogs  Date: January 26, 2012

Cattle
As reported by Federal-State Market News, receipts were 1546 head at sales in Charlotte, Ratcliff and Green Forest.  Compared with last week, feeder steers sold $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 191.50 to - - -
  500 to 550 lbs. 173 to - - -
  600 to 650 lbs. 159 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 165.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 147 to - - -
 Medium & Large Frame 2   600 to 650 lbs. 136 to - - -

Slaughter Cows, Boners 65   to   74
Light Weight 46 to 55
Bulls, Yield Grade   1   1000   to   2100 lbs.   78   to   88
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. - - - to - - -
  550 to 600 lbs. - - - to - - -
Heifers 500 to 550 lbs. - - - to - - -
  550 to 600 lbs. - - - to - - -

Chicago Futures:
Live Cattle: Feb down 130 at 12455
  April down 112 at 12805
Feeders: March down 137 at 15362
  Aug down 105 at 15810

Cattle Comment
Cattle futures were under pressure today from ideas that negative packer margins will prevent cash prices from moving higher. February failed to hold above resistance at $125.

Hogs
Peoria: were .50 cents     higher   at   5750   to   5950

Chicago Futures: Feb down 67 at 8595
  April down 142 at 8680

Hogs Comment
Falling product values have renewed concerns about the strength of pork demand, and hog futures lost ground as a result. Packer margins are already in the red, and weaker product prices don't bode well for cash bids in the near term.



Poultry  Date: January 26, 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 A
Whole broiler/fryer prices are about steady. Offerings of all sizes are moderate for trade needs. Demand into all channels is light to moderate with limited trading. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.