Grain & Soybean Date: January 27, 2012
Soybeans
Local Elevators:
(Jan) EAST AR: 1193 to 1221
(NC) Summ. 1180 to 1202
River Elevators:
(Jan) MISS: 1250 to 1254 ; AR & White 1202
to 1239
(NC) Summ. 1192 to 1232
Ark. Processor Bids: (Jan) 1217 to 1224
(NC) 1202 to 1207
Memphis:
(Jan) 1249 to 1251 (NC)
1230 1/4 to - - -
Riceland Foods:
(Jan) Stuttgart 1224 ; Pendleton
1226
() Stuttgart ; Pendleton
| Chicago Futures: |
March |
down |
3 3/4 |
at |
1219 |
| |
May |
down |
3 1/2 |
at |
1228 1/2 |
| |
July |
down |
3 1/2 |
at |
1238 1/4 |
| |
Aug |
down |
3 1/4 |
at |
1236 1/4 |
| |
Nov |
up |
1/2 |
at |
1222 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed the day slightly lower as overall trading was relatively quiet. Outside markets gave little direction and there was little fresh fundamental news. Soybeans are trading near key resistance – $12.50 for March and $12.25 for November.
Wheat
Cash bid for January at Memphis 671 1/4 to 672 1/4;
| Bids to farmers at Local Elevators |
625-650; |
| River Elevators |
680; |
| Chicago Futures: |
March |
down |
6 1/4 |
at |
647 1/4 |
| |
May |
down |
5 |
at |
661 3/4 |
| |
July |
down |
5 1/4 |
at |
674 3/4 |
| |
Sept |
down |
3 3/4 |
at |
690 3/4 |
| |
Dec |
down |
2 1/2 |
at |
708 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1137 to 1146;
| Bids to farmers at River Elevators |
1084-1146; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
671 3/4 to 681 3/4; |
| |
New Crop at Memphis
579 to 581; |
| Bids to farmers at River Elevators |
654 to 677 |
| Chicago Futures: |
March |
up |
3/4 |
at |
1219 |
| |
May |
up |
3 1/2 |
at |
1228 1/2 |
| |
July |
up |
3 1/2 |
at |
1238 1/4 |
| |
Sept |
up |
1 1/2 |
at |
1228 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended the session lower, but had a good week otherwise. Improved export demand has given the market a boost as U.S. price levels are finally competitive. Supplies in the Black Sea area are gone and this will keep the U.S. in the mix. July futures have key resistance around $7 and then $7.25.
Corn firmed to end the week with solid gains in old crop contracts. New crop months continue to lag behind as traders look at increased acreage and potential for yields to move toward trendline levels after two consecutive years of poor yields. Tight farmer holding will be a factor as overall supplies are the smallest in a number of years.
Cotton & Rice Date: January 27, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 2 at
8911 |
| |
Greenwood up
2 at 8911 |
| New York Futures: |
March |
up |
2 |
at |
9561 |
| |
May |
up |
5 |
at |
9609 |
| | July |
up |
19 |
at |
9656 |
| | Oct |
up |
39 |
at |
9656 |
| | Dec |
up |
34 |
at |
9459 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was steady to slightly higher as the market essentially treaded water. Upside potential will be limited until world economic conditions improve. The January report suggested China’s import needs have increased. There are indications some shift from cotton to grains will occur this year in China. If so, import needs are likely to expand in the future.
Rice
| Long Grain Cash Bid for |
Jan |
1260 |
to |
1284/cwt |
| |
NC |
1312/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
5 1/2 |
at |
1463 1/2 |
| | May |
down |
5 |
at |
1491 1/2 |
| | July |
down |
5 1/2 |
at |
1518 1/2 |
| | Sept |
down |
4 1/2 |
at |
1511 1/2 |
| | Nov |
down |
1/2 |
at |
1533 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 as the market remains in a very tight trading range. Upside potential is limited until export demand improves. Potential for less acreage in the U.S. in 2012 could eventually give the market a boost, but not in the near future.
Cattle & Hogs Date: January 27, 2012
Cattle
As reported by Federal-State Market News, receipts were 8,530 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold mostly $4 to $8 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
186.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
174 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
158.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
167 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
155.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
153.50 |
to |
- - - |
Slaughter Cows, Boners 66 to 74
Light Weight 50 to 57
Bulls, Yield Grade 1
1000 to 2100 lbs. 77
to 86
Midwest Steers were at 121
to 122
Panhandle Steers were at 122
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
160 |
to |
183 |
| |
550 |
to |
600 lbs. |
160 |
to |
175 |
| Heifers |
500 |
to |
550 lbs. |
145 |
to |
166 |
| |
550 |
to |
600 lbs. |
139.50 |
to |
162 |
Chicago Futures:
| Live Cattle: |
Feb |
up |
15 |
at |
12470 |
| |
April |
up |
40 |
at |
12845 |
| Feeders: |
March |
up |
97 |
at |
15460 |
| |
Aug |
up |
85 |
at |
15895 |
Cattle Comment
Cattle futures were a little higher in a quiet trade ahead of today’s cattle inventory report. USDA is expected to announce the smallest inventory in 60 years. Tight feeder cattle supplies will keep price levels firm. At the same time, the supply of fat cattle will get even tighter as we head into spring.
Hogs
Peoria: were steady
at 5750 to 5950
| Chicago Futures: |
Feb |
up |
72 |
at |
8667 |
| |
April |
up |
57 |
at |
8737 |
Hogs Comment
Hog futures firmed despite indications packer margins are moving further into the red. The big push by packers suggests they are anticipating increased export demand in the near future. Some expect carcass price levels will top $100 for the second year in a row.
Poultry Date: January 27, 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. |
98.73 |
| Toms: |
16-24 lbs. |
97.29 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are about steady. Offerings are moderate to satisfy trade needs. Demand entering the weekend is moderate with limited trading. Market activity is slow to moderate. In production areas, live supplies are moderate. Weights are mixed, but mostly desirable.