Grain & Soybean Date: February 28, 2012
Soybeans
Local Elevators:
(Feb) EAST AR: 1284 to 1312
(NC) Summ. 1259 to 1292
River Elevators:
(Feb) MISS: 1330 to 1335 ; AR & White 1293
to 1321
(NC) Summ. 1277 to 1299
Ark. Processor Bids: (Feb) 1310 to - - -
(NC) 1286 to 1289
Memphis:
(Feb) 1336 1/4 to - - - (NC)
1296 1/2 to - - -
Riceland Foods:
(Feb) Stuttgart 1310 ; Pendleton
1312
(NC) Stuttgart 1289 ; Pendleton
1292
| Chicago Futures: |
March |
up |
11 1/2 |
at |
1305 1/4 |
| |
May |
up |
10 |
at |
1312 1/2 |
| |
July |
up |
9 1/4 |
at |
1319 3/4 |
| |
Aug |
up |
9 |
at |
1312 1/2 |
| |
Nov |
up |
7 1/4 |
at |
1288 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans made strong gains, as they continued the strong uptrend of recent weeks. November hit key upside objectives but is overbought technically. Look for selling pressure to develop as we approach the end of the month.
Wheat
Cash bid for February at Memphis 678 1/4 to 682 1/4;
| Bids to farmers at Local Elevators |
650-670; |
| River Elevators |
655-690; |
| Chicago Futures: |
March |
up |
16 1/2 |
at |
662 1/4 |
| |
May |
up |
15 1/2 |
at |
668 1/4 |
| |
July |
up |
16 |
at |
679 1/2 |
| |
Sept |
up |
15 1/4 |
at |
693 1/2 |
| |
Dec |
up |
14 1/4 |
at |
709 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for February at Memphis 1158 to - - -;
| Bids to farmers at River Elevators |
1105-1132; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
February at Memphis
678 1/2 to 679 1/2; |
| |
New Crop at Memphis
580 3/4 to 585 3/4; |
| Bids to farmers at River Elevators |
659 to 680 |
| Chicago Futures: |
March |
up |
9 |
at |
653 1/2 |
| |
May |
up |
8 3/4 |
at |
657 1/4 |
| |
July |
up |
8 |
at |
658 3/4 |
| |
Sept |
up |
8 1/4 |
at |
595 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures posted solid gains. Technical buying and brisk export demand were supportive. Fundamentals remain bearish and will likely keep a lid on prices.
Corn finished strong as it tries to keep pace with soybeans. Big U.S. plantings will limit upside potential.
Cotton & Rice Date: February 28, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 157 at
8624 |
| |
Greenwood up
157 at 8624 |
| New York Futures: |
March |
up |
126 |
at |
9166 |
| |
May |
up |
157 |
at |
9224 |
| | July |
up |
162 |
at |
9330 |
| | Oct |
up |
158 |
at |
9380 |
| | Dec |
up |
117 |
at |
9184 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton followed grains higher. December found support just below 90 cents and could make another run toward recent resistance.
Rice
| Long Grain Cash Bid for |
Feb |
1267/cwt |
to |
- - - |
| |
NC |
1342/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
3 |
at |
1417 |
| | May |
down |
3 |
at |
1443 |
| | July |
down |
3 |
at |
1469 1/2 |
| | Sept |
down |
3 |
at |
1492 |
| | Nov |
down |
2 |
at |
1516 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice has been unable to establish any solid upward momentum and close slightly lower today after showing substantial gains on Friday. Overall trading remains in a broad range between $13.50 and $14.90. Poor export demand will limit upside potential in the near term. A drop in plantings for 2012 is anticipated, should this lead to a smaller crop, price prospects could improve later in the year.
Cattle & Hogs Date: February 28, 2012
Cattle
As reported by Federal-State Market News, receipts were 5326 head
at sales in Fort Smith and Heber Springs.
Compared with last week, feeder steers sold near steady .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
205 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
189 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
165.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
188 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
161.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
154.50 |
to |
- - - |
Slaughter Cows, Boners 80 to 88
Light Weight 58 to 66
Bulls, Yield Grade 1
1000 to 2100 lbs. 90
to 100
Midwest Steers - - - at - - -
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
184.50 |
to |
197 |
| |
550 |
to |
600 lbs. |
178 |
to |
196.75 |
| Heifers |
500 |
to |
550 lbs. |
169 |
to |
184 |
| |
550 |
to |
600 lbs. |
156 |
to |
171.50 |
Chicago Futures:
| Live Cattle: |
April |
down |
35 |
at |
12827 |
| |
June |
down |
50 |
at |
12620 |
| Feeders: |
March |
down |
70 |
at |
15575 |
| |
Aug |
down |
90 |
at |
16145 |
Cattle Comment
Cattle futures were under pressure today as a new report showed that orders for durable goods were down 4% in January. High beef prices and a slowing economy could weaken demand.
Hogs
Peoria: were $1 higher to $3 lower
at 57 to 59
| Chicago Futures: |
April |
down |
62 |
at |
8802 |
| |
June |
down |
35 |
at |
9772 |
Hogs Comment
Hog futures were also lower. Exports have supported the market, but economic concerns have the market cautious.
Poultry Date: February 28, 2012
Eggs
| New York: |
Ex. Lg. 102-106; Lg. 100-104; Med. 77-81; |
| Chicago: |
Ex. Lg. 93-101; Lg. 91-99; Med. 69-77; |
National Turkeys
| Hens: |
8-16 lbs. |
102 |
| Toms: |
16-24 lbs. |
102.10 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are steady to firm. Offerings of all sizes are light to moderate to satisfy current trade needs. Demand into all channels is moderate to good. Market activity is moderate to active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.