Grain & Soybean Date: March 20, 2012
Soybeans
Local Elevators:
(March) EAST AR: 1324 to 1352
(NC) Summ. 1277 to 1310
River Elevators:
(March) MISS: 1361 to 1370 ; AR & White 1333
to 1351
(NC) Summ. 1295 to 1317
Ark. Processor Bids: (March) 1350 to - - -
(NC) 1304 to 1307
Memphis:
(March) 1365 to 1366 (NC)
1317 1/4 to 1322 1/4
Riceland Foods:
(March) Stuttgart 1350 ; Pendleton
1352
(NC) Stuttgart 1307 ; Pendleton
1310
| Chicago Futures: |
May |
down |
21 1/2 |
at |
1345 |
| |
July |
down |
21 1/4 |
at |
1352 1/4 |
| |
Aug |
down |
20 1/2 |
at |
1343 1/2 |
| |
Nov |
down |
18 1/4 |
at |
1307 1/4 |
| |
March '12 |
down |
17 1/2 |
at |
1297 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were sharply lower as the market continued the downturn that started yesterday. Concern about declining hog prices leading to weak meal demand contributed to selling and profit taking. November soybeans have risen over $2 since the middle of December, and were due a retracement. The question is whether this is topping action of a temporary setback. A November close below trendline support near $12.80 would signal further possible declines.
Wheat
Cash bid for March at Memphis 652 1/2 to 657 1/2;
| Bids to farmers at Local Elevators |
622-642; |
| River Elevators |
627-662; |
| Chicago Futures: |
May |
down |
9 3/4 |
at |
642 1/2 |
| |
July |
down |
9 1/2 |
at |
651 1/2 |
| |
Sept |
down |
9 1/2 |
at |
667 1/4 |
| |
Dec |
down |
8 1/2 |
at |
686 3/4 |
| |
March '12 |
down |
8 1/2 |
at |
699 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1129 to 1156;
| Bids to farmers at River Elevators |
1095-1121; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
669 1/2 to 673 1/2; |
| |
New Crop at Memphis
580 3/4 to 585 3/4; |
| Bids to farmers at River Elevators |
652 to 673 |
| Chicago Futures: |
May |
down |
16 |
at |
647 1/2 |
| |
July |
down |
15 1/2 |
at |
646 |
| |
Sept |
down |
10 1/4 |
at |
590 3/4 |
| |
March '12 |
down |
10 |
at |
570 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
July wheat posted sharp losses today after charting a bearish reversal yesterday. The market held support at the trendline near $6.50 for now, however. Russia says there will be no need to limit exports, and that has renewed concerns about competition for U.S. wheat on the world market.
Corn ended the day on a weak note, triggered by sluggish export demand and a weaker undertone in outside markets. Corn has struggled since the first of the year. Prospects of 94 million acres plus being planted in the U.S. kept the market on the defensive even during the drought problems in South America. December has key support at $5.50, and then $5.35.
Cotton & Rice Date: March 20, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 118 at
8190 |
| |
Greenwood down
118 at 8190 |
| New York Futures: |
May |
down |
118 |
at |
8790 |
| |
July |
down |
118 |
at |
8872 |
| | Oct |
down |
148 |
at |
8936 |
| | Dec |
down |
113 |
at |
8846 |
| | March '12 |
down |
125 |
at |
8932 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton reversed yesterday’s gains and followed grains lower. New concerns about the debt situation in Greece provided the impetus for the decline. Negative outside markets simply added to the weakening undertone. December continues to challenge support around 88 cents.
Rice
| Long Grain Cash Bid for |
March |
1267/cwt |
to |
- - - |
| |
NC |
1338/cwt |
to |
- - - |
| Chicago Futures: |
May |
down |
24 |
at |
1436 1/2 |
| | July |
down |
24 1/2 |
at |
1462 1/2 |
| | Sept |
down |
24 |
at |
1487 1/2 |
| | Nov |
down |
26 |
at |
1511 1/2 |
| | March '12 |
down |
4 1/2 |
at |
1567 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice retraced a good portion of recent gains. Rice was in a follow mode as grains and soybeans were under heavy selling pressure. Weak export demand remains a major feather in the market. Combine that with plentiful world stocks and upside potential remains limited.
Cattle & Hogs Date: March 20, 2012
Cattle
As reported by Federal-State Market News, receipts were 877 head
at sales in Ft. Smith and Heber Springs.
Compared with last week, feeder steers sold mostly firm to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
198 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
183 |
to |
- - - |
|
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| Medium & Large Frame - - - |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
170 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
162.50 |
to |
- - - |
Slaughter Cows, Boners 79.00 to 86.00
Light Weight 60.00 to 67.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 92.50
to 98.50
Midwest Steers - - - at - - -
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
186 |
to |
203 |
| |
550 |
to |
600 lbs. |
180 |
to |
194 |
| Heifers |
500 |
to |
600 lbs. |
158.50 |
to |
170.00 |
| |
600 |
to |
650 lbs. |
149 |
to |
165 |
Chicago Futures:
| Live Cattle: |
April |
down |
65 |
at |
12452 |
| |
June |
down |
70 |
at |
12145 |
| Feeders: |
Mar |
down |
22 |
at |
15272 |
| |
April |
down |
87 |
at |
15247 |
Cattle Comment
The selling in cattle futures accelerated today. Packer margins remain far in the red, and that has taken its toll on futures prices. Live June futures could head for a retest of support near $119.
Hogs
Peoria: were steady
at 57.00 to 59.00
| Chicago Futures: |
April |
down |
107 |
at |
8495 |
| |
Jun |
down |
75 |
at |
9265 |
Hogs Comment
Hog futures were lower, but June found support at the December low of $92.35. Wholesale values are about 10% below year ago levels. Investment funds appear to be liquidating holdings just as grocers are featuring grilling products.
Poultry Date: March 20, 2012
Eggs
| New York: |
Ex. Lg. 121-125; Lg. 119-123; Med. 95-99; |
| Chicago: |
Ex. Lg. 106-114; Lg. 104-112; Med. 81-89; |
National Turkeys
| Hens: |
8-16 lbs. |
102.33 |
| Toms: |
16-24 lbs. |
104.00 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryer prices are steady. Offerings are moderate for current trade needs. Demand into all channels is moderate. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.