Grain & Soybean Date: February 29, 2012
Soybeans
Local Elevators:
(Feb) EAST AR: 1293 to 1321
(NC) Summ. 1259 to 1292
River Elevators:
(Feb) MISS: 1336 to 1345 ; AR & White 1302
to 1326
(NC) Summ. 1277 to 1299
Ark. Processor Bids: (Feb) 1319 to - - -
(NC) 1286 to 1289
Memphis:
(Feb) 1341 1/2 to 1344 1/2 (NC)
1296 to 1299
Riceland Foods:
(Feb) Stuttgart 1319 ; Pendleton
1321
(NC) Stuttgart 1289 ; Pendleton
1292
| Chicago Futures: |
March |
up |
8 1/4 |
at |
1313 1/2 |
| |
May |
up |
7 1/2 |
at |
1320 |
| |
July |
up |
8 |
at |
1327 3/4 |
| |
Aug |
up |
4 1/2 |
at |
1317 |
| |
Nov |
up |
1/2 |
at |
1289 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed higher with front contracts having the biggest gains. Another big Chinese purchase gave the market a boost after comments by the Federal Reserve caused a dip at midday. The current soybean/corn price ratio is up to 2.3 and appears to be pulling acres back to beans. At current price levels the market is technically overbought and subject to a downturn at any time.
Wheat
Cash bid for February at Memphis 680 1/4 to 681 1/4;
| Bids to farmers at Local Elevators |
651-671; |
| River Elevators |
656-691; |
| Chicago Futures: |
March |
up |
2 |
at |
664 1/4 |
| |
May |
down |
1/4 |
at |
668 |
| |
July |
up |
1 |
at |
680 1/2 |
| |
Sept |
up |
3 |
at |
696 1/2 |
| |
Dec |
up |
3 3/4 |
at |
713 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for February at Memphis 1163 to - - -;
| Bids to farmers at River Elevators |
1111-1138; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
February at Memphis
681 1/2 to - - -; |
| |
New Crop at Memphis
590 3/4 to - - -; |
| Bids to farmers at River Elevators |
662 to 682 |
| Chicago Futures: |
March |
up |
3 |
at |
656 1/2 |
| |
May |
up |
3/4 |
at |
658 |
| |
July |
up |
1 3/4 |
at |
660 1/2 |
| |
Sept |
up |
5 |
at |
600 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures posted gains again today. The market is likely making a bottom, however, buying interest may be hard to come by above $7.
Corn closed higher after several big export sales were announced. Biggest gains were in new crop where corn could be losing acres to beans. However gains could be limited by resistance as the market is bumping against a major trendline.
Cotton & Rice Date: February 29, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 180 at
8444 |
| |
Greenwood down
180 at 8444 |
| New York Futures: |
March |
down |
180 |
at |
8986 |
| |
May |
down |
180 |
at |
9044 |
| | July |
down |
143 |
at |
9187 |
| | Oct |
down |
102 |
at |
9278 |
| | Dec |
down |
66 |
at |
9118 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton never overcame losses as the market eased on comments by the Federal Reserve that they would not entertain anymore quantitative measures. Cotton needs a steadily improving economic situation here and abroad to stimulate use.
Rice
| Long Grain Cash Bid for |
Feb |
1271/cwt |
to |
- - - |
| |
NC |
1345/cwt |
to |
- - - |
| Chicago Futures: |
March |
up |
3 1/2 |
at |
1420 1/2 |
| | May |
up |
3 |
at |
1446 |
| | July |
up |
3 |
at |
1472 1/2 |
| | Sept |
up |
2 1/2 |
at |
1494 1/2 |
| | Nov |
up |
2 1/2 |
at |
1518 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice continues to flounder as milled exports remain stagnant. Reduced U.S. 2012 plantings are anticipated and that could boost the market later in the year.
Cattle & Hogs Date: February 29, 2012
Cattle
As reported by Federal-State Market News, receipts were 726 head
at sales in Conway and Pocahontas.
Compared with last week, feeder steers sold weak to $5 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
198 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
183.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
158 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
173.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
158.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
151 |
to |
- - - |
Slaughter Cows, Boners 76 to 83
Light Weight 55 to 62
Bulls, Yield Grade 1
1000 to 2000 lbs. 90
to 98
Midwest Steers were at - - -
to - - -
Panhandle Steers were 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 |
up |
147 |
at |
12975 |
| |
June |
up |
102 |
at |
12722 |
| Feeders: |
March |
up |
157 |
at |
15722 |
| |
Aug |
up |
160 |
at |
16305 |
Cattle Comment
Cattle futures are chopping along mostly sideways. The market is worried about high prices impacting demand.
Hogs
Peoria: were steady
at 57 to 59
| Chicago Futures: |
April |
up |
140 |
at |
8942 |
| |
June |
up |
92 |
at |
9865 |
Hogs Comment
Hog futures are also under pressure from negative packer margins and concerns that high prices will weaken demand.
Poultry Date: February 29, 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 approaching end of the month business. Market activity is moderate to active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.