Grain & Soybean Date: February 06, 2012
Soybeans
Local Elevators:
(Feb) EAST AR: 1212 to 1240
(NC) Summ. 1207 to 1234
River Elevators:
(Feb) MISS: 1260 to 1263 ; AR & White 1221
to 1249
(NC) Summ. 1219 to 1249
Ark. Processor Bids: (Feb) 1238 to - - -
(NC) 1229 to - - -
Memphis:
(Feb) 1263 to - - - (NC)
1249 to - - -
Riceland Foods:
(Feb) Stuttgart 1238 ; Pendleton
1240
(NC) Stuttgart 1229 ; Pendleton
1239
| Chicago Futures: |
March |
up |
1/2 |
at |
1233 |
| |
May |
up |
1 1/4 |
at |
1242 |
| |
July |
up |
1 1/2 |
at |
1251 3/4 |
| |
Aug |
up |
1 1/2 |
at |
1249 1/2 |
| |
Nov |
up |
1 3/4 |
at |
1239 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed slightly higher, but well below the day’s highs. Concern about the South American soybean crop and potential winterkill in the European rapeseed crop boosted the market early. March came within a cent of the January high, while November moved to the highest level in over three months. Producers should be looking at this as a pricing opportunity for a portion of expected 2012 production.
Wheat
Cash bid for February at Memphis 690 1/2 to 693 1/2;
| Bids to farmers at Local Elevators |
642-667; |
| River Elevators |
659-702; |
| Chicago Futures: |
March |
up |
7 3/4 |
at |
668 1/2 |
| |
May |
up |
5 3/4 |
at |
679 3/4 |
| |
July |
up |
3 |
at |
692 |
| |
Sept |
up |
3 1/4 |
at |
709 1/4 |
| |
Dec |
up |
3 1/4 |
at |
726 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for February at Memphis 1133 to 1142;
| Bids to farmers at River Elevators |
1088-1150; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
February at Memphis
674 1/4 to - - -; |
| |
New Crop at Memphis
592 1/4 to 595 1/4; |
| Bids to farmers at River Elevators |
644 to 670 |
| Chicago Futures: |
March |
down |
1/4 |
at |
644 1/4 |
| |
May |
up |
1/2 |
at |
651 1/4 |
| |
July |
up |
3/4 |
at |
656 1/4 |
| |
Sept |
up |
1/2 |
at |
605 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat posted gains today. Russia announced last week that there would be no need to impose import duties until all grain exports equal 27 million metric tons, which means there won’t be any export restrictions. July futures have halted for now at previous resistance just above $7. A close above that level likely adds another quarter to the market.
Corn closed nearly steady as the market moved in a sideways pattern just below key resistance. The recent strong basis appears to have pulled some corn out of farmer hands. This week’s supply demand report will give the next gauge on possible damage in South America.
Cotton & Rice Date: February 06, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 3 at
9006 |
| |
Greenwood down
3 at 9006 |
| New York Futures: |
March |
down |
3 |
at |
9631 |
| |
May |
up |
35 |
at |
9783 |
| | July |
up |
76 |
at |
9921 |
| | Oct |
up |
71 |
at |
9871 |
| | Dec |
up |
90 |
at |
9728 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton continued to firm with New Crop December closing above 97 cents. Resistance at 98 cents and then just above $1.02 are the next potential upside objectives. Last week’s improved job numbers and declining unemployment figures are a positive. However, the European economic situation remains a possible negative factor.
Rice
| Long Grain Cash Bid for |
Feb |
1244/cwt |
to |
- - - |
| |
NC |
1302/cwt |
to |
- - - |
| Chicago Futures: |
March |
up |
6 1/2 |
at |
1394 |
| | May |
up |
6 |
at |
1420 1/2 |
| | July |
up |
6 1/2 |
at |
1448 1/2 |
| | Sept |
up |
6 1/2 |
at |
1451 1/2 |
| | Nov |
up |
5 1/2 |
at |
1469 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures firmed slightly as the market showed a little followthrough on Friday’s gains. Upside potential remains limited as export demand continues soft. Planting in 2012 is expected to be down slightly from last year’s flood reduced numbers.
Cattle & Hogs Date: February 06, 2012
Cattle
As reported by Federal-State Market News, receipts were 2,331 head
at sales in Ash Flat, Springdale and Ola.
Compared with last week, feeder steers sold firm to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
195 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
178.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
154 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
178 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
156 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
146.50 |
to |
- - - |
Slaughter Cows, Boners 69 to 77
Light Weight 54 to 63
Bulls, Yield Grade 1
1000 to 2100 lbs. 84
to 95.50
Midwest Steers were at - - -
to - - -
Panhandle Steers werew at - - -
to - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
184 |
to |
196.50 |
| |
550 |
to |
600 lbs. |
173 |
to |
186 |
| Heifers |
500 |
to |
550 lbs. |
157 |
to |
171.50 |
| |
550 |
to |
600 lbs. |
150.50 |
to |
163.50 |
Chicago Futures:
| Live Cattle: |
April |
up |
10 |
at |
12750 |
| |
June |
up |
37 |
at |
12722 |
| Feeders: |
March |
down |
32 |
at |
15412 |
| |
Aug |
down |
50 |
at |
15925 |
Cattle Comment
Cattle futures ended mixed today pressured by poor packer margins and weakening beef values. This is a blip on the radar screen as the long term situation suggests tightening supplies and higher price levels.
Hogs
Peoria: were $1.50 lower to $2.50 higher
at 57.50 to 59.50
| Chicago Futures: |
April |
down |
37 |
at |
8855 |
| |
June |
up |
37 |
at |
9847 |
Hogs Comment
Hog futures were mostly lower. Light packer demand was the order of the day. Negative packer margins kept buyers on the sideline. Longer term strong export demand will limit downside pressure.
Poultry Date: February 06, 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. |
95.92 |
| Toms: |
16-24 lbs. |
96.42 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are steady. Offerings are moderate for current trade needs. Demand is moderate following post Super bowl weekend. Market activity is moderate. In production areas, live supplies are moderate. Weights are mixed, but mostly desirable.