Grain & Soybean Date: March 15, 2012
Soybeans
Local Elevators:
(March) EAST AR: 1348 to 1376
(NC) Summ. 1296 to 1329
River Elevators:
(March) MISS: 1385 to 1395 ; AR & White 1357
to 1375
(NC) Summ. 1315 to 1337
Ark. Processor Bids: (March) 1374 to - - -
(NC) 1323 to 1326
Memphis:
(March) 1395 to - - - (NC)
1336 1/4 to 1337 1/4
Riceland Foods:
(March) Stuttgart 1374 ; Pendleton
1376
(NC) Stuttgart 1326 ; Pendleton
1329
| Chicago Futures: |
May |
up |
18 3/4 |
at |
1369 |
| |
July |
up |
19 |
at |
1375 1/2 |
| |
Aug |
up |
17 1/4 |
at |
1365 1/4 |
| |
Nov |
up |
15 1/4 |
at |
1326 1/4 |
| |
March '12 |
up |
12 |
at |
1314 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans posted huge gains on the open, but had fallen off the highs by mid-day. The weekly export total of 51.2 million bushels was well ahead of trade projections and pushed futures higher. Going forward, it is thought China will increase corn plantings at the expense of soybeans, leading to more exports from the U.S. While further gains are possible, resistance at $13.50 to $13.60 could be a stretch.
Wheat
Cash bid for March at Memphis 675 3/4 to 679 3/4;
| Bids to farmers at Local Elevators |
643-663; |
| River Elevators |
648-688; |
| Chicago Futures: |
May |
up |
21 |
at |
664 3/4 |
| |
July |
up |
18 |
at |
672 1/2 |
| |
Sept |
up |
16 1/2 |
at |
686 1/2 |
| |
Dec |
up |
14 1/4 |
at |
703 3/4 |
| |
March '12 |
up |
12 3/4 |
at |
716 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1168 to 1195;
| Bids to farmers at River Elevators |
1132-1159; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
693 to 697; |
| |
New Crop at Memphis
586 to 601; |
| Bids to farmers at River Elevators |
674 to 694 |
| Chicago Futures: |
May |
up |
10 1/4 |
at |
669 |
| |
July |
up |
10 1/4 |
at |
667 |
| |
Sept |
up |
4 3/4 |
at |
606 |
| |
March '12 |
up |
7 1/4 |
at |
581 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat followed soybeans higher, despite a disappointing export report of its own to contend with. USDA says only 13.2 million bushels were sold for export last week. Upside potential is limited by big world supplies. July has resistance at $7.00, then $7.25.
Corn was posting across the board gains at mid-day. Weekly exports were in line with expectations at 32.9 million bushels. 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 15, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 2 at
8134 |
| |
Greenwood up
2 at 8134 |
| New York Futures: |
May |
up |
20 |
at |
8734 |
| |
July |
up |
25 |
at |
8801 |
| | Oct |
up |
7 |
at |
8950 |
| | Dec |
down |
38 |
at |
8827 |
| | March '12 |
down |
25 |
at |
8943 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was no better than mixed at mid-day. 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 |
1262/cwt |
to |
- - - |
| |
NC |
1333/cwt |
to |
- - - |
| Chicago Futures: |
May |
up |
40 1/2 |
at |
1432 |
| | July |
up |
40 1/2 |
at |
1458 1/2 |
| | Sept |
up |
40 1/2 |
at |
1482 1/2 |
| | Nov |
up |
38 |
at |
1507 |
| | March '12 |
up |
13 1/2 |
at |
1538 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was also mixed at mid-day. 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 15, 2012
Cattle
As reported by Federal-State Market News, receipts were 2192 head
at sales in Charlotte, Ratcliff & Green Forest.
Compared with last week, feeder steers sold very unevenly, ranging from $3 lower to $4 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
199 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
193 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
162 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
186.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
159.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
163.50 |
to |
- - - |
Slaughter Cows, Boners 75.00 to 83.00
Light Weight 59.00 to 67.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 85.00
to 97.00
Midwest Steers were at 126
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
192 |
to |
194 |
| |
550 |
to |
600 lbs. |
186 |
to |
194 |
| Heifers |
500 |
to |
550 lbs. |
189 |
to |
192 |
| |
550 |
to |
600 lbs. |
186 |
to |
190 |
Chicago Futures:
| Live Cattle: |
April |
down |
145 |
at |
12557 |
| |
June |
down |
105 |
at |
12285 |
| Feeders: |
Mar |
down |
82 |
at |
15437 |
| |
April |
down |
122 |
at |
15600 |
Cattle Comment
Cattle futures were higher in early dealing, but were lower by mid-day. Packer margins are deep in the red, and lower product prices won’t help. Retailers are expected to feature beef any day now as warm weather has people firing up their grills for the first time this spring, but it hasn’t happened yet.
Hogs
Peoria: were $1 lower to $3 higher
at 58 to 60
| Chicago Futures: |
April |
down |
50 |
at |
8690 |
| |
June |
down |
42 |
at |
9412 |
Hogs Comment
Hog futures were mixed. Exports have been the key support in this market for a while, and traders are watching the value of the dollar closely. May futures should find support between $94 and $95.
Poultry Date: March 15, 2012
Eggs
| New York: |
Ex. Lg. 114-118; Lg. 112-116; Med. 87-91; |
| 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 moderate for current trade needs. Demand into all channels is moderate approaching the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.