Grain & Soybean Date: January 30, 2012
Soybeans
Local Elevators:
(Jan) EAST AR: 1164 to 1192
(NC) Summ. 1159 to 1181
River Elevators:
(Jan) MISS: 1215 to 1217 ; AR & White 1173
to 1205
(NC) Summ. 1171 to 1204
Ark. Processor Bids: (Jan) 1190 to - - -
(NC) 1180 to 1181
Memphis:
(Jan) 1215 1/4 to 1218 1/4 (NC)
1201 1/2 to 1204 1/2
Riceland Foods:
(Jan) Stuttgart 1190 ; Pendleton
1192
() Stuttgart ; Pendleton
| Chicago Futures: |
March |
down |
33 3/4 |
at |
1185 1/4 |
| |
May |
down |
33 1/4 |
at |
1195 1/4 |
| |
July |
down |
33 1/4 |
at |
1205 |
| |
Aug |
down |
32 1/4 |
at |
1204 |
| |
Nov |
down |
27 3/4 |
at |
1194 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were sharply following weekend rains in much of the drought stricken areas of South America. General feeling is this rain put bushels back on yield expectations. While dry weather and high temperatures reduced yield prospects this rain trimmed disaster prospects. Outside markets were also negative as world economic conditions remain in the forefront. The dollar strengthened while crude oil and equities were weak. Mid-January support comes back into play, that is $11.50 to $11.60 for March and a dime higher for November.
Wheat
Cash bid for January at Memphis 668 3/4 to 669 3/4;
| Bids to farmers at Local Elevators |
621-646; |
| River Elevators |
676-677; |
| Chicago Futures: |
March |
down |
2 1/2 |
at |
644 3/4 |
| |
May |
down |
3 |
at |
658 3/4 |
| |
July |
down |
3 1/2 |
at |
671 1/4 |
| |
Sept |
down |
4 1/4 |
at |
686 1/2 |
| |
Dec |
down |
5 |
at |
703 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1119 to 1137;
| Bids to farmers at River Elevators |
1066-1129; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
658 3/4 to 669 3/4; |
| |
New Crop at Memphis
572 1/4 to 574 1/4; |
| Bids to farmers at River Elevators |
645 to 657 |
| Chicago Futures: |
March |
down |
10 |
at |
631 3/4 |
| |
May |
down |
9 3/4 |
at |
637 3/4 |
| |
July |
down |
9 3/4 |
at |
641 1/4 |
| |
Sept |
down |
6 3/4 |
at |
587 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended a bit lower today. The recent rally seems to have run into resistance around $6.75 for July. 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.
Corn was lower for the day, but was not hit as hard as soybeans. Rain was likely to late for much of the corn, which was hit during the main pollination period. However, we could see corn move back toward recent support for March just below $6 and new crop December around $5.50.
Cotton & Rice Date: January 30, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 146 at
8765 |
| |
Greenwood down
146 at 8765 |
| New York Futures: |
March |
down |
146 |
at |
9415 |
| |
May |
down |
122 |
at |
9487 |
| | July |
down |
95 |
at |
9561 |
| | Oct |
down |
128 |
at |
9528 |
| | Dec |
down |
115 |
at |
9344 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was pushed lower again today with negative outside markets providing the major impetus. Cotton hit major resistance last week with old crop March unable to move above the dollar level and new crop December failing to break through trendline resistance around 95 cents. Informa released their latest acreage projection week before last. Cotton plantings were down just 6%, which include sizeable plantings in drought stricken Texas. Smaller plantings also are expected in China.
Rice
| Long Grain Cash Bid for |
Jan |
1260 |
to |
1266/cwt |
| |
NC |
1293/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
18 |
at |
1445 1/2 |
| | May |
down |
18 |
at |
1473 1/2 |
| | July |
down |
18 1/2 |
at |
1500 |
| | Sept |
down |
18 1/2 |
at |
1493 |
| | Nov |
down |
18 1/2 |
at |
1515 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures closed lower. Trading remained in the recent range, but near the bottom. Inability to hold here would bring late 2011 support just under $14 into play. Fundamentals remain negative with limited export demand a major factor. Inability to garner any of the latest tender from Iraq was a negative factor as were today’s outside markets.
Cattle & Hogs Date: January 30, 2012
Cattle
As reported by Federal-State Market News, receipts were 1,948 head
at sales in Ash Flat and Springdale.
Compared with last week, feeder steers sold $3 to $6 higher, instances $7 to $10 .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
191 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
175 |
to |
- - |
|
| |
600 |
to |
650 lbs. |
150 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
170 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
149 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
150 |
to |
- - - |
Slaughter Cows, Boners 67 to 75
Light Weight 50 to 58
Bulls, Yield Grade 1
1000 to 2100 lbs. 84
to 94
Midwest Steers were $1 to $2 higher at 123
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
525 |
to |
600 lbs. |
172 |
to |
186 |
| |
600 |
to |
650 lbs. |
159 |
to |
170 |
| Heifers |
500 |
to |
550 lbs. |
159 |
to |
168 |
| |
550 |
to |
600 lbs. |
152.75 |
to |
158.50 |
Chicago Futures:
| Live Cattle: |
Feb |
down |
75 |
at |
12392 |
| |
April |
down |
70 |
at |
12775 |
| Feeders: |
March |
down |
25 |
at |
15435 |
| |
Aug |
down |
5 |
at |
15900 |
Cattle Comment
Cattle futures were lower today despite the bullish inventory report released Friday. Today’s weakness was in reaction to negative action in outside markets and renewed concerns about how the economy will impact demand. However, 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 $1.50 lower to $2 higher
at 58 to 59
| Chicago Futures: |
Feb |
down |
22 |
at |
8645 |
| |
April |
down |
22 |
at |
8715 |
Hogs Comment
Hog futures were also weaker today on concerns from outside markets. However, 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 30, 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 following 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.