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Daily Market Report Archive

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 at  1312 1/2
  Nov up 7 1/4  at  1288 1/2
  Today's Arkansas LDP rate for soybeans is:

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:

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:

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  at  653 1/2 
  May up  8 3/4  at  657 1/4 
  July up  at  658 3/4 
  Sept up  8 1/4  at  595 3/4 
  Today's Arkansas LDP rate for corn is:

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  at  1417 
 May down  at  1443 
 July down  at  1469 1/2 
 Sept down  at  1492 
 Nov down  at  1516 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
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 A
Whole 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.