Grain & Soybean Date: March 16, 2012
Soybeans
Local Elevators:
(March) EAST AR: 1353 to 1381
(NC) Summ. 1298 to 1331
River Elevators:
(March) MISS: 1390 to 1400 ; AR & White 1362
to 1380
(NC) Summ. 1316 to 1338
Ark. Processor Bids: (March) 1379 to - - -
(NC) 1325 to 1328
Memphis:
(March) 1400 to - - - (NC)
1339 1/4 to 1340 1/4
Riceland Foods:
(March) Stuttgart 1379 ; Pendleton
1381
(NC) Stuttgart 1328 ; Pendleton
1331
| Chicago Futures: |
May |
up |
5 |
at |
1374 |
| |
July |
up |
5 1/4 |
at |
1380 3/4 |
| |
Aug |
up |
4 |
at |
1369 1/4 |
| |
Nov |
up |
2 |
at |
1328 1/4 |
| |
March '12 |
up |
3 3/4 |
at |
1318 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans edged a little higher, supported by positive outside markets. Strong demand continues to be a key factor, as does concern about production in South America. Soybeans are attempting to pull acreage from corn and the current price ratio of better than 2.3 should do that. November has resistance at $13.50 to $13.60, and then the contract high of $14.
Wheat
Cash bid for March at Memphis 682 to 687;
| Bids to farmers at Local Elevators |
647-667; |
| River Elevators |
675-692; |
| Chicago Futures: |
May |
up |
7 1/4 |
at |
672 |
| |
July |
up |
4 3/4 |
at |
677 1/4 |
| |
Sept |
up |
4 |
at |
690 1/2 |
| |
Dec |
up |
3 1/2 |
at |
707 1/4 |
| |
March '12 |
up |
3 1/4 |
at |
719 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1180 to 1202;
| Bids to farmers at River Elevators |
1139-1166; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
698 to - - -; |
| |
New Crop at Memphis
582 1/4 to 600 1/4; |
| Bids to farmers at River Elevators |
678 to 690 |
| Chicago Futures: |
May |
up |
4 |
at |
673 |
| |
July |
up |
3 1/4 |
at |
670 1/4 |
| |
Sept |
down |
3/4 |
at |
605 1/4 |
| |
March '12 |
up |
2 3/4 |
at |
584 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended the week on a positive note as futures firmed today. Weather problems in Russia suggest their crop may be off this year. At the same time U.S. exports to the Middle East and Egypt have increased. Upside potential was limited by improving U.S. weather in Kansas and Oklahoma. July futures leave resistance around $6.84, then $7.00.
Corn ended the day mostly higher, the exception being the September contract. Increased talk of Chinese demand helped firm the market despite a private estimate putting 2012 plantings at just more than 95 million acres. Favorable early weather has allowed early field work which could mean corn planters will keeping running as long as possible. December futures put resistance at last week’s high of $5.75. The next chart resistance is $5.82, the $5.97.
Cotton & Rice Date: March 16, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 14 at
8148 |
| |
Greenwood up
14 at 8148 |
| New York Futures: |
May |
up |
14 |
at |
8748 |
| |
July |
up |
4 |
at |
8805 |
| | Oct |
down |
24 |
at |
8926 |
| | Dec |
up |
1 |
at |
8828 |
| | March '12 |
down |
12 |
at |
8931 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed narrowly mixed as the market can’t generate much upward momentum. Lingering economic conditions and last year’s price, shifted dynamics toward man-made fibers. Light demand led to building world stocks, currently projected to be greater than 62 million bales. Shifting demand back to cotton will be slow. December has support at 86 cents, then just over 83 cents. At these price levels soybeans could gain average from cotton.
Rice
| Long Grain Cash Bid for |
March |
1284/cwt |
to |
- - - |
| |
NC |
1353/cwt |
to |
- - - |
| Chicago Futures: |
May |
up |
21 1/2 |
at |
1453 1/2 |
| | July |
up |
21 |
at |
1479 1/2 |
| | Sept |
up |
20 1/2 |
at |
1503 |
| | Nov |
up |
20 |
at |
1527 |
| | March '12 |
up |
21 |
at |
1559 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures firmed again today. Thus the market continues to see-saw back and forth. There is little fresh fundamental news to drive the market. Export demand remains slow and outlook poor.
Cattle & Hogs Date: March 16, 2012
Cattle
As reported by Federal-State Market News, receipts were 3584 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold mostly $3 to $10 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
204 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
190 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
165.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
190.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
166 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
163.50 |
to |
- - - |
Slaughter Cows, Boners 79.00 to 86.00
Light Weight 62.00 to 69.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 90.00
to 98.00
Midwest Steers - - - at - - -
to - - -
Panhandle Steers were at 126
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
175 |
to |
210 |
| |
550 |
to |
600 lbs. |
169 |
to |
196.50 |
| Heifers |
500 |
to |
550 lbs. |
160.50 |
to |
174 |
| |
550 |
to |
600 lbs. |
151 |
to |
169 |
Chicago Futures:
| Live Cattle: |
April |
down |
27 |
at |
12530 |
| |
June |
down |
15 |
at |
12270 |
| Feeders: |
Mar |
down |
97 |
at |
15340 |
| |
April |
down |
170 |
at |
15430 |
Cattle Comment
Cattle futures closed on a negative note with packer margins remaining negative at nearly $50 per head. June futures fell to the lowest level since Christmas, while feeders were at two month lows.
Hogs
Peoria: were steady
at 58 to 60
| Chicago Futures: |
April |
down |
102 |
at |
8587 |
| |
June |
down |
52 |
at |
9360 |
Hogs Comment
Hog futures declined on falling composite pork carcass values. Wholesale values are about 10% below year ago levels. Investment funds appear to be liquidating holdings just as grocers are featuring grilling products. June futures have support about a dollar lower.
Poultry Date: March 16, 2012
Eggs
| New York: |
Ex. Lg. 116-120; Lg. 114-118; Med. 89-93; |
| Chicago: |
Ex. Lg. 93-101; Lg. 91-99; Med. 69-77; |
National Turkeys
| Hens: |
8-16 lbs. |
102.33 |
| Toms: |
16-24 lbs. |
104.00 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryer are mostly steady. Offerings are moderate for current trade needs. demand into all channels is moderate entering the weekend. Market activity is moderate. In production areas, live supplies are moderate at mostly desirable weights.