Grain & Soybean Date: March 14, 2012
Soybeans
Local Elevators:
(March) EAST AR: 1329 to 1357
(NC) Summ. 1281 to 1314
River Elevators:
(March) MISS: 1366 to 1375 ; AR & White 1338
to 1356
(NC) Summ. 1300 to 1322
Ark. Processor Bids: (March) 1348 to 1355
(NC) 1308 to 1311
Memphis:
(March) 1374 1/4 to 1376 1/4 (NC)
1321 to 1322
Riceland Foods:
(March) Stuttgart 1355 ; Pendleton
1357
(NC) Stuttgart 1311 ; Pendleton
1314
| Chicago Futures: |
March |
up |
7 1/4 |
at |
1356 |
| |
May |
up |
1 1/2 |
at |
1350 1/4 |
| |
July |
up |
2 |
at |
1356 1/2 |
| |
Aug |
up |
1 3/4 |
at |
1348 |
| |
Nov |
up |
1/2 |
at |
1327 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed slightly higher despite negative outside markets. Prospects of increased Chinese demand kept trade on the positive side. It is thought, China will increase corn plantings at the expense of soybeans, leading to more exports from the U.S. November futures was the only contract to end the session lower. This came after the market moved above the Monday high of $13.15. While further gains or possible resistance at $13.50 to $13.60 could be a stretch.
Wheat
Cash bid for March at Memphis 654 3/4 to 658 3/4;
| Bids to farmers at Local Elevators |
625-645; |
| River Elevators |
630-670; |
| Chicago Futures: |
March |
up |
1/4 |
at |
651 3/4 |
| |
May |
down |
5 1/4 |
at |
643 3/4 |
| |
July |
down |
3 1/2 |
at |
654 1/2 |
| |
Sept |
down |
3 3/4 |
at |
670 |
| |
Dec |
down |
3 1/4 |
at |
689 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1155 to 1176;
| Bids to farmers at River Elevators |
1114-1141; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
686 3/4 to - - -; |
| |
New Crop at Memphis
581 1/4 to 596 1/4; |
| Bids to farmers at River Elevators |
664 to 684 |
| Chicago Futures: |
March |
down |
4 1/2 |
at |
669 1/2 |
| |
May |
down |
3 1/4 |
at |
658 3/4 |
| |
July |
down |
1 1/4 |
at |
656 3/4 |
| |
Sept |
down |
3 3/4 |
at |
601 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat was lower today, but the trend is mostly sideways at this point. Above normal temperatures have the crop emerging early, which could make it susceptible to a cold snap. However long range forecasts suggested continued warmer than normal temperatures. Upside potential is limited by big world supplies. July has resistance at $7.00, then $7.25.
Corn was pressured by negative outside markets and belief China will limit purchases as they expand plantings in 2012. Lower feed demand and steady ethanol use are weighing on the market, as the trade anticipates U.S. plantings of 94 million plus acres in 2012. A return to trend line yields appears possible with the current warm weather allowing for early land preparation.
Cotton & Rice Date: March 14, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 90 at
8114 |
| |
Greenwood down
90 at 8114 |
| New York Futures: |
May |
down |
90 |
at |
8714 |
| |
July |
down |
104 |
at |
8776 |
| | Oct |
down |
102 |
at |
8943 |
| | Dec |
down |
105 |
at |
8865 |
| | March '12 |
down |
112 |
at |
8968 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton lost more ground today with December closing below 89 cents. There is little news to give the market direction, so the market is looking at building world stocks and the potential for a sizeable U.S. crop if conditions in Texas improve. Last year’s big price bump, cut cotton use as cheaper man-made fibers filled the void.
Rice
| Long Grain Cash Bid for |
March |
1222/cwt |
to |
- - - |
| |
NC |
1292/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
17 |
at |
1395 1/2 |
| | May |
down |
42 |
at |
1391 1/2 |
| | July |
down |
42 1/2 |
at |
1418 |
| | Sept |
down |
42 1/2 |
at |
1442 |
| | Nov |
down |
42 1/2 |
at |
1469 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was sharply lower as the market reversed early week gains. There is little fresh fundamental news to give the market direction. At this point, weak export demand is a market killer. U.S. exports trail year ago levels by over 700,000 metric tonnes. Smaller U.S. plantings are anticipated and that may give the market a boost later in the year. Current weakness is another signal that less acres are needed.
Cattle & Hogs Date: March 14, 2012
Cattle
As reported by Federal-State Market News, receipts were 683 head
at sales in Conway and Pocahontas.
Compared with last week, feeder steers sold very uneven from sale to sale, averaging near steady .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
202 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
177.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
150 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
176 |
to |
|
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
159 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
164 |
to |
- - - |
Slaughter Cows, Boners 76.00 to 83.00
Light Weight 59.00 to 64.00
Bulls, Yield Grade 1
1000 to 2000 lbs. 92.00
to 99.00
Midwest Steers were at - - -
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
204 |
to |
210.50 |
| |
500 |
to |
600 lbs. |
177.75 |
to |
204 |
| Heifers |
500 |
to |
550 lbs. |
165 |
to |
169 |
| |
550 |
to |
600 lbs. |
161 |
to |
171 |
Chicago Futures:
| Live Cattle: |
April |
down |
70 |
at |
12702 |
| |
June |
down |
85 |
at |
12390 |
| Feeders: |
April |
down |
55 |
at |
15722 |
| |
Aug |
down |
22 |
at |
16035 |
Cattle Comment
Cattle futures lost ground today. Falling beef prices and a rising dollar were cited as the impetus for today’s move. Packer margins are deep in the red, and lower product prices and less competitive exports won’t help. This could limit upside potential.
Hogs
Peoria: were steady
at 5700 to 5900
| Chicago Futures: |
April |
down |
25 |
at |
8740 |
| |
June |
down |
47 |
at |
9455 |
Hogs Comment
Hog futures ended mixed. Exports have been the key support in this market for a while, and today’s stronger dollar resulted in weakness. May futures should find support between $94 and $95.
Poultry Date: March 14, 2012
Eggs
| New York: |
Ex. Lg. 109-113; Lg. 107-111; Med. 82-86; |
| Chicago: |
Ex. Lg. 93-101; Lg. 91-99; Med. 69-77; |
National Turkeys
| Hens: |
8-16 lbs. |
102 |
| Toms: |
16-24 lbs. |
103.07 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are trending steady to firm. Offerings are light to moderate for current trade needs. Demand into all channels is moderate to at times good. Market activity is moderate to instances active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.