Grain & Soybean Date: March 26, 2012
Soybeans
Local Elevators:
(March) EAST AR: 1359 to 1387
(NC) Summ. 1300 to 1333
River Elevators:
(March) MISS: 1394 to 1405 ; AR & White 1366
to 1384
(NC) Summ. 1318 to 1340
Ark. Processor Bids: (March) 1385 to - - -
(NC) 1327 to 1330
Memphis:
(March) 1400 1/2 to 1404 1/2 (NC)
1337 1/2 to - - -
Riceland Foods:
(March) Stuttgart 1385 ; Pendleton
1387
(NC) Stuttgart 1330 ; Pendleton
1333
| Chicago Futures: |
May |
up |
13 3/4 |
at |
1379 1/2 |
| |
July |
up |
12 1/2 |
at |
1384 1/4 |
| |
Aug |
up |
10 1/4 |
at |
1373 |
| |
Nov |
up |
7 |
at |
1329 1/2 |
| |
March '12 |
up |
5 |
at |
1315 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans moved sharply higher in the early trade after the Brazilian crop number was pegged at 66.7 mmt by AgRural. That was almost 2 mmt below the USDA estimate earlier in the month. Potential Chinese demand added to the early move. However, late selling reduced ains. November broke above last week’s high, but failing to hold above $13.33 at the close puts the market at risk. Resistance is layered at 13.40, 13.70 and $44. November will need to close above $13.40 to extend the uptrend.
Wheat
Cash bid for March at Memphis 674 1/2 to 675 1/2;
| Bids to farmers at Local Elevators |
640-660; |
| River Elevators |
642-680; |
| Chicago Futures: |
May |
up |
5 1/4 |
at |
659 1/2 |
| |
July |
up |
5 3/4 |
at |
670 1/4 |
| |
Sept |
up |
6 |
at |
685 |
| |
Dec |
up |
6 |
at |
704 1/2 |
| |
March '12 |
up |
5 3/4 |
at |
717 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1110 to 1112;
| Bids to farmers at River Elevators |
1077-1104; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
658 3/4 to 659 3/4; |
| |
New Crop at Memphis
561 1/2 to 569 1/2; |
| Bids to farmers at River Elevators |
640 to 663 |
| Chicago Futures: |
May |
down |
8 3/4 |
at |
637 3/4 |
| |
July |
down |
8 1/2 |
at |
636 |
| |
Sept |
down |
5 3/4 |
at |
576 1/2 |
| |
March '12 |
down |
4 1/2 |
at |
563 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures posted solid gains again today. Dry conditions are pushing European markets higher, and that is carrying over to U.S. markets at this point. Last week, July charted a bullish reversal after finding support at $6.40 in Thursday’s trade.
Corn rallied with beans but lost out late in the session, closing lower across the board. Corn usage appears to be good and that could lead to an adjustment in projected stocks in Friday’s report. Right now the market remains in a tight sideways acres or more being planted in 2012 is limiting upside movement, particularly in new crop contracts.
Cotton & Rice Date: March 26, 2012
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 128 at
8541 |
| |
Greenwood up
128 at 8541 |
| New York Futures: |
May |
up |
128 |
at |
9091 |
| |
July |
up |
76 |
at |
9103 |
| | Oct |
up |
72 |
at |
9113 |
| | Dec |
up |
70 |
at |
8941 |
| | March '12 |
up |
70 |
at |
9008 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed higher with December holding in a very tight sideways pattern. Support at 88 cents continues to be tested. Trendline resistance touches around 90 cents. The market is likely to break one direction or the other in the coming days. Cotton continues to be influenced by world economic factors and world stocks that are projected to be over 62 million bales.
Rice
| Long Grain Cash Bid for |
March |
1311/cwt |
to |
- - - |
| |
NC |
1381/cwt |
to |
- - - |
| Chicago Futures: |
May |
up |
20 1/2 |
at |
1480 1/2 |
| | July |
up |
20 1/2 |
at |
1507 1/2 |
| | Sept |
up |
21 1/2 |
at |
1531 |
| | Nov |
up |
22 1/2 |
at |
1555 |
| | March '12 |
up |
18 |
at |
1584 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures continued in a firming pattern with may closing just under resistance near $14.90. Acreage prospects have declined as soybeans and corn draw producer favor. Limited export activity will continue to weigh on market prospects.
Cattle & Hogs Date: March 26, 2012
Cattle
As reported by Federal-State Market News, receipts were 1673 head
at sales in Ash Flat and Ola.
Compared with last week, feeder steers sold weak to $6 lower .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
198 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
173 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
159 |
to |
- - - |
|
| Medium & Large Frame 2 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
153 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
153 |
to |
- - - |
Slaughter Cows, Boners 76.00 to 84.00
Light Weight 64.00 to 68.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 86.00
to 95.00
Midwest Steers - - - at - - -
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
206.00 |
to |
212.25 |
| |
500 |
to |
600 lbs. |
186.75 |
to |
199.00 |
| Heifers |
400 |
to |
500 lbs. |
180.50 |
to |
198.00 |
| |
575 |
to |
600 lbs. |
173.00 |
to |
- - - |
Chicago Futures:
| Live Cattle: |
April |
up |
5 |
at |
12455 |
| |
June |
steady |
|
at |
12110 |
| Feeders: |
Mar |
up |
35 |
at |
15365 |
| |
April |
up |
12 |
at |
15255 |
Cattle Comment
Cattle futures were under renewed pressure today. Beef prices have fallen most of the month of March. However, if all beef containing the so called “pink slime,” or filler treated with ammonia is removed from the shelves, it would take 1.5 million head to replace it.
Hogs
Peoria: were $1 lower to $1 higher
at 55.00 to 57.00
| Chicago Futures: |
April |
down |
15 |
at |
8487 |
| |
June |
up |
67 |
at |
9290 |
Hogs Comment
Hog futures were also mostly lower. Pork prices are now about 13% below year ago prices. Heavy cold storage stocks and sluggish demand are limiting the upside for now.
Poultry Date: March 26, 2012
Eggs
| New York: |
Ex. Lg. 131-135; Lg. 129-133; Med. 106-110; |
| Chicago: |
Ex. Lg. 120-128; Lg. 118-126; Med. 97-105; |
National Turkeys
| Hens: |
8-16 lbs. |
104.50 |
| Toms: |
16-24 lbs. |
104.50 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices for whole broiler/fryer are weak to lower. Offerings are moderate to heavy for current trade needs. Demand into all channels is light following the weekend. Market activity is slow. In production areas, live supplies are moderate at mostly desirable weights.