Grain & Soybean Date: March 06, 2012
Soybeans
Local Elevators:
(March) EAST AR: 1314 to 1342
(NC) Summ. 1263 to 1296
River Elevators:
(March) MISS: 1355 to 1357 ; AR & White 1323
to 1345
(NC) Summ. 1282 to 1304
Ark. Processor Bids: (March) 1333 to 1340
(NC) 1290 to 1293
Memphis:
(March) 1357 1/4 to 1360 1/4 (NC)
1305 1/4 to - - -
Riceland Foods:
(March) Stuttgart 1340 ; Pendleton
1342
(NC) Stuttgart 1293 ; Pendleton
1296
| Chicago Futures: |
March |
up |
10 1/2 |
at |
1329 3/4 |
| |
May |
up |
10 1/4 |
at |
1335 1/4 |
| |
July |
up |
9 1/2 |
at |
1341 3/4 |
| |
Aug |
up |
8 1/2 |
at |
1330 1/2 |
| |
Nov |
up |
4 1/4 |
at |
1293 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed with solid gains after retracing early declines. Concern about the size of the South American crop allowed the market to reverse early declines which resulted from negative outside markets. Oil and equities were sharply lower, while the dollar was stronger. Funds moved back to the buy side as additional crop projections indicated smaller production in Brazil. November beans moved to within 3 cents of the recent high just below $13. A close above that level opens the market for additional gains.
Wheat
Cash bid for March at Memphis 666 3/4 to 675 3/4;
| Bids to farmers at Local Elevators |
638-658; |
| River Elevators |
643-678; |
| Chicago Futures: |
March |
down |
13 3/4 |
at |
654 |
| |
May |
down |
14 1/4 |
at |
657 3/4 |
| |
July |
down |
14 1/2 |
at |
668 1/4 |
| |
Sept |
down |
13 3/4 |
at |
683 3/4 |
| |
Dec |
down |
12 3/4 |
at |
699 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1168 to - - -;
| Bids to farmers at River Elevators |
1105-1132; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
681 to 683; |
| |
New Crop at Memphis
583 to 593; |
| Bids to farmers at River Elevators |
659 to 674 |
| Chicago Futures: |
March |
down |
8 1/4 |
at |
658 |
| |
May |
down |
6 3/4 |
at |
654 |
| |
July |
down |
7 1/4 |
at |
655 |
| |
Sept |
down |
8 1/4 |
at |
598 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Selling accelerated in wheat futures today. July could be headed for a retest of support between $6.40 and $6.50. Failure to hold that support could push the market toward contract lows. The recent uptick in demand hasn’t been enough to make a significant difference in ample world stocks.
Corn trimmed losses but ended the day substantially lower. Overall stocks remain tight, but it appears China has completed their buying. Combined with prospective U.S. 2012 plantings of 94 million acres or more this was enough to pressure the market. Negative outside markets added to the negative undertone - December Futures quickly fell back below the downtrend which was broken yesterday. That makes the $5.75 high resistance.
Cotton & Rice Date: March 06, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 81 at
8542 |
| |
Greenwood down
81 at 8542 |
| New York Futures: |
March |
down |
34 |
at |
9237 |
| |
May |
down |
81 |
at |
9142 |
| | July |
down |
114 |
at |
9245 |
| | Oct |
down |
94 |
at |
9354 |
| | Dec |
down |
75 |
at |
9243 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed lower as the market failed to sustain the emotion that was fired by India’s ban on exports. A spokesman indicated India would re-examine their ban next week. Total export movement of 8.5 million bales exceeds their export goal of 8.4 million bales. Many believe they will honor old sales but will limit new contracts. Trade remains locked in the current range between 90 and 97 cents.
Rice
| Long Grain Cash Bid for |
March |
1245/cwt |
to |
- - - |
| |
NC |
1326/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
9 |
at |
1401 1/2 |
| | May |
down |
9 |
at |
1425 1/2 |
| | July |
down |
9 |
at |
1452 1/2 |
| | Sept |
down |
9 |
at |
1476 1/2 |
| | Nov |
down |
8 |
at |
1504 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice closed lower again today. Trade has been locked in a narrow range within the broader range between $13.50 and $14.90. Poor export movement remains a key feature. Mill activity remains limited despite a price decline of over $150 per ton since last fall. Other origins are still priced as much as $100 per metric tonne below the U.S. The inability to sell to Iraq is a particularly sore spot, especially following the new specifications they implemented.
Cattle & Hogs Date: March 06, 2012
Cattle
As reported by Federal-State Market News, receipts were 5326 head
at sales in Ft. Smith and Heber Springs.
Compared with last week, feeder steers sold weak to $5 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
194.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
185.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
166.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
183.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
167.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
159.00 |
to |
- - - |
Slaughter Cows, Boners 78.00 to 85.00
Light Weight 57.00 to 65.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 88.00
to 96.00
Midwest Steers were at 127
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
192 |
to |
212 |
| |
550 |
to |
600 lbs. |
180 |
to |
196.50 |
| Heifers |
500 |
to |
550 lbs. |
167 |
to |
184 |
| |
550 |
to |
600 lbs. |
163 |
to |
175.50 |
Chicago Futures:
| Live Cattle: |
April |
down |
262 |
at |
12577 |
| |
June |
down |
195 |
at |
12385 |
| Feeders: |
April |
down |
282 |
at |
15612 |
| |
Aug |
down |
255 |
at |
15960 |
Cattle Comment
Cattle futures posted sharp losses for the third day in a row. Cash values continue to decline, suggesting a seasonal dip in demand has begun. Demand usually picks back up again as grilling season begins. Negative economic news from China also has the market worried.
Hogs
Peoria: were steady
at 57 to 59
| Chicago Futures: |
April |
down |
265 |
at |
8677 |
| |
June |
down |
257 |
at |
9592 |
Hogs Comment
Hog futures gapped lower as April collapsed through previous uptrending support near $88. Negative economic data from China accelerated the selloff. April has key support below $86.
Poultry Date: March 06, 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. |
101.52 |
| Toms: |
16-24 lbs. |
101.44 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are higher. Offerings of all sizes are light for current trade needs. Demand into all channels is moderate to good for early week business. Market activity is mostly active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.