Grain & Soybean Date: March 07, 2012
Today's report has mid-day markets and comments.
Soybeans
Local Elevators:
(March) EAST AR: - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(March) MISS: - - - to - - - ; AR & White - - -
to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (March) - - - to - - -
(NC) - - - to - - -
Memphis:
(March) - - - to - - - (NC)
- - - to - - -
Riceland Foods:
(March) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
March |
down |
5 3/4 |
at |
1324 |
| |
May |
down |
6 1/4 |
at |
1329 |
| |
July |
down |
5 3/4 |
at |
1336 |
| |
Aug |
up |
8 1/2 |
at |
1330 1/2 |
| |
Nov |
down |
1 3/4 |
at |
1291 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
At midday soybeans were slightly lower as the market looks ahead to Friday’s supply demand report. Position evening is a major feature of the market. Overall soybeans remain in an uptrend but new crop November has been able to move above established resistance at $13. Smaller crop projections in South America are a driving force, as is the need to pull acreage back from corn in the U.S.
Wheat
Cash bid for March at Memphis - - - to - - -;
| Bids to farmers at Local Elevators |
- - -; |
| River Elevators |
- - -; |
| Chicago Futures: |
March |
down |
15 |
at |
639 |
| |
May |
down |
14 1/4 |
at |
657 3/4 |
| |
July |
down |
13 1/4 |
at |
655 |
| |
Sept |
down |
11 3/4 |
at |
672 |
| |
Dec |
down |
9 1/2 |
at |
690 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis - - - to - - -;
| Bids to farmers at River Elevators |
- - -; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
- - - to - - -; |
| |
New Crop at Memphis
- - - to - - -; |
| Bids to farmers at River Elevators |
- - - to - - - |
| Chicago Futures: |
March |
down |
12 1/2 |
at |
645 1/2 |
| |
May |
down |
13 |
at |
641 |
| |
July |
down |
13 1/2 |
at |
641 1/2 |
| |
Sept |
down |
8 |
at |
590 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat was sharply lower as the market has been unable to build any sustainable upward momentum. Big world stocks remain a key factor. Technically July wheat is in a narrowing trade range between $6.40 and $7.00. On the downside, there is additional support just below $6.15.
Corn was sharply lower at midday, as declining export interest adds to a negative undertone. Prospects of 94 million acres or more being planted in the U.S. in 2012 reduces chances of the market making much of an upward move. Trendline yields start the production estimate at just under 14 billion bushels. Weather is obviously the unknown. Good planting conditions keep pressure on the market, while poor weather likely gives the market a boost.
Cotton & Rice Date: March 07, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis - - - at
- - - |
| |
Greenwood
- - - at - - - |
| New York Futures: |
March |
down |
384 |
at |
8853 |
| |
May |
down |
139 |
at |
9003 |
| | July |
down |
132 |
at |
9113 |
| | Oct |
down |
157 |
at |
9197 |
| | Dec |
down |
156 |
at |
9087 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton continued to retrace Monday’s big gains. The market advanced on reports that India would halt export movement since their goal had been exceeded. That left some sales in limbo. Apparently, the announcement was a surprise to some “higher up” authorities in India and is under review. So, the fire in the cotton market was short lived. December maintains support at 90 cents.
Rice
| Long Grain Cash Bid for |
March |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
March |
down |
9 |
at |
1401 1/2 |
| | May |
up |
3 1/2 |
at |
1429 |
| | July |
up |
2 1/2 |
at |
1455 |
| | Sept |
up |
2 1/2 |
at |
1479 |
| | Nov |
down |
9 |
at |
1504 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was narrowly mixed at midday. Overall conditions are unchanged. Export demand remains poor with overall sales. Over 600,000 metric tonnes below year ago levels. A new tender from Iraq is expected in the near future, but there is little reason to believe the U.S. will get a piece of the action. New specifications have everyone scratching their head.
Cattle & Hogs Date: March 07, 2012
Cattle
As reported by Federal-State Market News, receipts were 832 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. |
188.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
181.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
167.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
- - - |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
157.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
160.00 |
to |
- - - |
Slaughter Cows, Boners 78.00 to 86.00
Light Weight 53.00 to 67.00
Bulls, Yield Grade 1
1000 to 2000 lbs. 92.50
to 99.50
Midwest Steers - - - at - - -
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 |
2 |
at |
12575 |
| |
June |
up |
5 |
at |
12390 |
| Feeders: |
April |
down |
7 |
at |
15605 |
| |
Aug |
down |
37 |
at |
15922 |
Cattle Comment
Cattle futures were mixed at midday as the market attempts to stabilize after 2 days of sharply lower trading. Cutout values declined slightly yesterday despite a minor increase in boxed beef values. Negative packer margins would seem to limit near term upside potential.
Hogs
Peoria: were $1.50 lower to $2.50 higher
at 57.50 to 59.50
| Chicago Futures: |
April |
up |
52 |
at |
8730 |
| |
Jun |
up |
2 |
at |
9595 |
Hogs Comment
Hog futures were slightly higher despite concern about export potential. A cooling Chinese economy could mean slower pork demand. USDA reported pork export sales 5 to 7% lower compared to the same week last year.
Poultry Date: March 07, 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 continue to trend higher. Offerings of all sizes are light. Demand into all channels is moderate to good for mid-week business. Market activity is mostly active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.