Grain & Soybean Date: January 31, 2012
Soybeans
Local Elevators:
(Jan) EAST AR: 1178 to 1206
(NC) Summ. 1168 to 1192
River Elevators:
(Jan) MISS: 1229 to 1231 ; AR & White 1187
to 1219
(NC) Summ. 1180 to 1211
Ark. Processor Bids: (Jan) 1204 to - - -
(NC) 1190 to 1192
Memphis:
(Jan) 1231 to 1232 (NC)
1208 1/2 to 1211 1/2
Riceland Foods:
(Jan) Stuttgart 1204 ; Pendleton
1206
(NC) Stuttgart 1190 ; Pendleton
1192
| Chicago Futures: |
March |
up |
13 3/4 |
at |
1199 |
| |
May |
up |
13 1/4 |
at |
1208 1/2 |
| |
July |
up |
13 |
at |
1218 |
| |
Aug |
up |
12 |
at |
1216 |
| |
Nov |
up |
7 |
at |
1201 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans traded back and forth before ending the day on a strong note. The stronger close was surprising, in that positive outside markets turned negative at midday. Much of the strength came as a result of the recent upturn in wheat. A recent increase in Chinese buying has helped soybeans rebound from yesterday’s downturn. Resistance at $12.45 and $12.25 respectively for March and November contracts remains intact.
Wheat
Cash bid for January at Memphis 690 to 691;
| Bids to farmers at Local Elevators |
641-666; |
| River Elevators |
697-701; |
| Chicago Futures: |
March |
up |
21 1/4 |
at |
666 |
| |
May |
up |
21 1/2 |
at |
680 1/4 |
| |
July |
up |
19 3/4 |
at |
691 |
| |
Sept |
up |
17 1/2 |
at |
704 |
| |
Dec |
up |
17 |
at |
720 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1132 to 1150;
| Bids to farmers at River Elevators |
1079-1141; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
668 to 671; |
| |
New Crop at Memphis
578 1/2 to 580 1/2; |
| Bids to farmers at River Elevators |
651 to 664 |
| Chicago Futures: |
March |
up |
7 1/4 |
at |
639 |
| |
May |
up |
7 1/2 |
at |
645 1/4 |
| |
July |
up |
7 1/2 |
at |
648 3/4 |
| |
Sept |
up |
6 1/4 |
at |
593 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat posted strong gains today. The market is watching Europe and the Black Sea region closely. Extremely cold temperatures are increasing the likelihood of winterkill in the region. July moved above trendline resistance, but faces additional resistance near $7.
Corn reversed yesterday’s decline to close the session higher. Tight farmer holding remains a major feature in the market. This has pushed basis levels to near record levels for this time of year. Stronger than expected use and reluctant farmer selling have left pipeline supplies at minimal levels. Both old and new crop contracts have moved into position to test resistance at early January levels.
Cotton & Rice Date: January 31, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 90 at
8675 |
| |
Greenwood down
90 at 8675 |
| New York Futures: |
March |
down |
90 |
at |
9325 |
| |
May |
down |
36 |
at |
9451 |
| | July |
unchanged |
0 |
at |
9561 |
| | Oct |
down |
12 |
at |
9516 |
| | Dec |
up |
9 |
at |
9353 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed mixed with old crop under the greatest selling pressure. The inability of Greece to finalize a bail out plan is weighing on the market. Upside potential will remain limited unless demand increases, or the market feels 2012 acreage needs to be boosted.
Rice
| Long Grain Cash Bid for |
Jan |
1220 |
to |
1260/cwt |
| |
NC |
1250/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
45 1/2 |
at |
1400 |
| | May |
down |
46 |
at |
1427 1/2 |
| | July |
down |
46 |
at |
1454 |
| | Sept |
down |
43 |
at |
1450 |
| | Nov |
down |
43 |
at |
1472 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
After trading sideways in a narrow range for the last four weeks, March rice broke downside support and closed sharply lower. Penetration of support likely brought technical selling; pushing the market toward late December lows just below $14. Export demand remains weak and the inability to secure part of the latest tender by Iraq was a blow.
Cattle & Hogs Date: January 31, 2012
Cattle
As reported by Federal-State Market News, receipts were 324 head
at sales in Fort Smith and Heber Springs.
Compared with last week, feeder steers sold $2 to $6 higher .
| Steers: |
| Medium & Large Frame 1 |
450 |
to |
500 lbs. |
183 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
170 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
159 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
158 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
154 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
150 |
to |
- - - |
Slaughter Cows, Boners 73 to 80
Light Weight 52 to 60
Bulls, Yield Grade 1
1000 to 2100 lbs. 84.50
to 94
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
179 |
to |
186 |
| |
550 |
to |
600 lbs. |
172 |
to |
183.50 |
| Heifers |
500 |
to |
550 lbs. |
159 |
to |
169 |
| |
550 |
to |
600 lbs. |
149 |
to |
159.50 |
Chicago Futures:
| Live Cattle: |
Feb |
up |
92 |
at |
12485 |
| |
April |
up |
82 |
at |
12857 |
| Feeders: |
March |
up |
117 |
at |
15552 |
| |
Aug |
up |
92 |
at |
15992 |
Cattle Comment
Cattle futures ended sharply higher. Friday’s report showed the smallest cattle herd in 60 years. However, packer margins are currently in the red and keeping a lid on prices. April is struggling with resistance at $129.70.
Hogs
Peoria: were $2 lower to $1 higher
at 57 to 59
| Chicago Futures: |
Feb |
up |
107 |
at |
8752 |
| |
April |
up |
172 |
at |
8887 |
Hogs Comment
Hog futures also showed strong gains across the board. April is trading in a choppy pattern with resistance at $89.42 and support at $85.50.
Poultry Date: January 31, 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 steady. Offerings of all sizes are moderate for trade needs. Demand into all channels is light to moderate for end of the month business. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.