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Daily Market Report Archive

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:

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 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:

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:

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:

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  at  9561 
  May up  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  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 
medium grain rice is 
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 A
Whole 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.