Grain & Soybean Date: February 13, 2012
Soybeans
Local Elevators:
(Feb) EAST AR: 1231 to 1259
(NC) Summ. 1227 to 1254
River Elevators:
(Feb) MISS: 1279 to 1282 ; AR & White 1240
to 1268
(NC) Summ. 1239 to 1269
Ark. Processor Bids: (Feb) 1257 to - - -
(NC) 1249 to - - -
Memphis:
(Feb) 1281 to - - - (NC)
1267 to - - -
Riceland Foods:
(Feb) Stuttgart 1257 ; Pendleton
1259
(NC) Stuttgart 1249 ; Pendleton
1259
| Chicago Futures: |
March |
up |
23 |
at |
1252 |
| |
May |
up |
22 1/2 |
at |
1260 |
| |
July |
up |
21 3/4 |
at |
1268 3/4 |
| |
Aug |
up |
20 3/4 |
at |
1266 1/2 |
| |
Nov |
up |
19 1/2 |
at |
1259 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed sharply higher supported by strong export and positive outside markets. It appears recent damage in South America is giving the U.S. an opportunity to move more soybeans in the export trade. Today’s strong move carried November futures to the 50% retracement objective just above $12.58, the highest level since early September. A close above this area would open the market to the 62% retracement objective at $12.92.
Wheat
Cash bid for February at Memphis 661 1/4 to 666 1/4;
| Bids to farmers at Local Elevators |
607-637; |
| River Elevators |
626-667; |
| Chicago Futures: |
March |
up |
11 1/4 |
at |
641 1/4 |
| |
May |
up |
8 1/2 |
at |
646 1/2 |
| |
July |
up |
8 3/4 |
at |
657 1/4 |
| |
Sept |
up |
9 1/2 |
at |
674 1/2 |
| |
Dec |
up |
11 |
at |
693 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for February at Memphis 1124 to 1133;
| Bids to farmers at River Elevators |
1080-1107; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
February at Memphis
667 1/2 to 672 1/2; |
| |
New Crop at Memphis
586 1/2 to - - -; |
| Bids to farmers at River Elevators |
640 to 670 |
| Chicago Futures: |
March |
up |
7 3/4 |
at |
639 1/2 |
| |
May |
up |
7 1/2 |
at |
643 |
| |
July |
up |
6 3/4 |
at |
646 |
| |
Sept |
up |
7 |
at |
591 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
July wheat firmed in today’s trade after declining almost 60 cents from the recent high near $7. Cold weather concerns in Europe were a positive factor. Good export demand added to underlying support.
Corn closed higher receiving a boost from today’s Feed Outlook report which confirms greater export potential following the drought damage in Argentina. New crop December firmed but could have a hard time moving above resistance at $5.80 and then $5.97.
Cotton & Rice Date: February 13, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 91 at
8527 |
| |
Greenwood up
91 at 8527 |
| New York Futures: |
March |
up |
91 |
at |
9152 |
| |
May |
up |
48 |
at |
9254 |
| | July |
up |
45 |
at |
9402 |
| | Oct |
up |
70 |
at |
9447 |
| | Dec |
up |
67 |
at |
9364 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton firmed but closed well below overnight highs. The National Cotton Council intentions report put 2012 plantings at 13.6 million acres. That is a 7.5% decline from 2011. By regions, plantings are projected 12.8% lower in the Southeast, 6.9% lower in the Midsouth, 5.3% lower in the Southwest, and 10.4% lower in the far West with extra-long staple down 6.4%. The question is whether drought conditions in Texas and Georgia will persist.
Rice
| Long Grain Cash Bid for |
Feb |
1264/cwt |
to |
- - - |
| |
NC |
1336/cwt |
to |
- - - |
| Chicago Futures: |
March |
up |
42 |
at |
1413 1/2 |
| | May |
up |
41 1/2 |
at |
1439 1/2 |
| | July |
up |
41 1/2 |
at |
1467 |
| | Sept |
up |
38 1/2 |
at |
1485 1/2 |
| | Nov |
up |
35 |
at |
1506 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures closed sharply higher as the market retraced Friday’s downturn. The fundamental picture remains weak, and upside potential limited unless export demand improves. Technically, March has support at $13.50 with resistance around $14.90.
Cattle & Hogs Date: February 13, 2012
Cattle
As reported by Federal-State Market News, receipts were 2,397 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. |
196 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
179 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
164 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
179.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
153.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
154 |
to |
- - - |
Slaughter Cows, Boners 71 to 79
Light Weight 58 to 65
Bulls, Yield Grade 1
1000 to 2100 lbs. 85
to 95
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
600 lbs. |
177 |
to |
187.50 |
| |
600 |
to |
650 lbs. |
168 |
to |
177 |
| Heifers |
500 |
to |
600 lbs. |
159 |
to |
168 |
| |
600 |
to |
650 lbs. |
147.75 |
to |
154 |
Chicago Futures:
| Live Cattle: |
April |
up |
132 |
at |
12812 |
| |
June |
up |
80 |
at |
12675 |
| Feeders: |
March |
up |
110 |
at |
15472 |
| |
Aug |
up |
127 |
at |
16012 |
Cattle Comment
Cattle were higher with improved economic conditions providing underlying support. A weaker dollar and stronger equity markets were a positive factor. Feedlots appear to be current on marketings. Choice beef cutout values improved today, but cutout margins remain well in the red. April futures could move toward support near $124, but probably not before Friday’s cattle on feed report.
Hogs
Peoria: were steady
at 57.50 to 59.50
| Chicago Futures: |
April |
down |
32 |
at |
8797 |
| |
June |
down |
35 |
at |
9750 |
Hogs Comment
Hog futures closed lower despite an optimistic outlook for pork exports. December 2011 exports were over 23% above year ago levels with the annual export total up 18% from 2010. There is no indication movement will decline in the months ahead.
Poultry Date: February 13, 2012
Eggs
| New York: |
Ex. Lg. 103-107; Lg. 101-105; Med. 83-87; |
| Chicago: |
Ex. Lg. 96-104; Lg. 94-102; Med. 74-82; |
National Turkeys
| Hens: |
8-16 lbs. |
98.07 |
| Toms: |
16-24 lbs. |
98.12 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are trending firm to higher. Offerings are light for current trade needs. Demand is moderate to good following the weekend. Market activity is moderate to active. In production areas, live supplies are moderate. Weights are mixed, but mostly desirable.