Grain & Soybean Date: February 15, 2012
Today's report has mid-day markets and comments.
Soybeans
Local Elevators:
(Feb) EAST AR: - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(Feb) MISS: - - - to - - - ; AR & White - - -
to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (Feb) - - - to - - -
(NC) - - - to - - -
Memphis:
(Feb) - - - to - - - (NC)
- - - to - - -
Riceland Foods:
(Feb) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
March |
up |
8 1/2 |
at |
1263 1/2 |
| |
May |
up |
7 1/2 |
at |
1270 |
| |
July |
up |
8 3/4 |
at |
1280 |
| |
Aug |
up |
2 |
at |
1268 1/2 |
| |
Nov |
up |
2 1/2 |
at |
1260 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans continued to firm in early trade. Increased export prospects, as a result of South American drought, is pushing soybeans higher. Both old and new crop are moving toward higher objectives – $12.76 for March and $12.92 for November.
Wheat
Cash bid for February at Memphis - - - to - - -;
| Bids to farmers at Local Elevators |
- - -; |
| River Elevators |
- - -; |
| Chicago Futures: |
March |
down |
2 |
at |
633 |
| |
May |
down |
1 |
at |
638 |
| |
July |
down |
7 1/2 |
at |
649 3/4 |
| |
Sept |
down |
7 1/2 |
at |
667 |
| |
Dec |
down |
8 1/4 |
at |
685 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for February at Memphis - - - to - - -;
| Bids to farmers at River Elevators |
- - -; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
February at Memphis
- - - to - - -; |
| |
New Crop at Memphis
- - - to - - -; |
| Bids to farmers at River Elevators |
- - - to - - - |
| Chicago Futures: |
March |
down |
1 |
at |
632 1/2 |
| |
May |
down |
2 |
at |
636 |
| |
July |
down |
1 1/2 |
at |
640 |
| |
Sept |
down |
1 1/4 |
at |
589 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures were fractionally lower at mid-day. Lagging exports and an uncertain world economy continue to weigh on prices. July has resistance at $7.
Corn was narrowly mixed at noon. One major concern is building ethanol stocks as Brazilian import needs are declining. Competition from feed wheat for export markets is another factor. As we look ahead, prospects of 94 plus million acres being planted this year could be a negative especially if yields move toward trendline levels.
Cotton & Rice Date: February 15, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis - - - at
- - - |
| |
Greenwood
- - - at - - - |
| New York Futures: |
March |
up |
119 |
at |
9344 |
| |
May |
up |
114 |
at |
9398 |
| | July |
up |
117 |
at |
9513 |
| | Oct |
up |
121 |
at |
9547 |
| | Dec |
up |
55 |
at |
9403 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton firmed after finding support earlier this week. Fundamentals remain unchanged. World economic concerns and competition from manmade fibers will limit upside potential. Farther down the road, market opportunities could improve if dry conditions in Texas and Georgia persist.
Rice
| Long Grain Cash Bid for |
Feb |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
March |
up |
1/2 |
at |
1439 |
| | May |
up |
1/2 |
at |
1463 |
| | July |
unchanged |
0 |
at |
1490 |
| | Sept |
up |
4 1/2 |
at |
1511 |
| | Nov |
up |
23 1/2 |
at |
1530 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was mixed at mid-day with little fresh news to drive the market.
Cattle & Hogs Date: February 15, 2012
Cattle
As reported by Federal-State Market News, receipts were 229 head
at sales in Conway and Pocahontas.
Compared with last week, feeder steers were poorly tested, not enought on offer for an accurate price test .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
195 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
180 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
164.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
152.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Slaughter Cows, Boners 72 to 80
Light Weight - - - to - - -
Bulls, Yield Grade 1
1000 to 2000 lbs. 94
to - - -
Midwest Steers were at 122
to - - -
Panhandle Steers were at 122
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
179 |
to |
187.50 |
| |
550 |
to |
600 lbs. |
177 |
to |
189 |
| Heifers |
500 |
to |
550 lbs. |
164.50 |
to |
168 |
| |
550 |
to |
600 lbs. |
153 |
to |
167 |
Chicago Futures:
| Live Cattle: |
April |
up |
35 |
at |
12960 |
| |
June |
up |
7 |
at |
12795 |
| Feeders: |
March |
up |
80 |
at |
15705 |
| |
Aug |
up |
57 |
at |
16187 |
Cattle Comment
Cattle were posting gains at mid-day. April is testing resistance at $129.70. Support begins at $124. Friday’s cattle on feed report is expected to show smaller placements than last year.
Hogs
Peoria: were $2.50 lower to $1.50 higher
at 56.50 to 58.50
| Chicago Futures: |
April |
down |
7 |
at |
8955 |
| |
June |
up |
15 |
at |
9900 |
Hogs Comment
Hog futures turned higher today. Strong exports continue to support this market. 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 15, 2012
Eggs
| New York: |
Ex. Lg. 102-106; Lg. 100-104; Med. 78-82; |
| 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 higher. Offerings of all sizes are light for current trade needs. Demand is moderate to good. Market activity is active. In
production areas, live supplies are moderate at mixed, but mostly desirable weights.