Grain & Soybean Date: January 02, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1379 to 1418
(NC) Summ. 1254 to 1277
River Elevators:
(Jan) MISS: 1426 to 1466 ; AR & White 1381
to 1438
(NC) Summ. 1259 to 1294
Ark. Processor Bids: (Jan) 1406 to 1436
(NC) 1269 to 1274
Memphis:
(Jan) 1457 1/2 to 1465 1/2 (NC)
1294 to - - -
Riceland Foods:
(Jan) Stuttgart 1406 ; Pendleton
1418
(NC) Stuttgart 1269 ; Pendleton
1277
| Chicago Futures: |
Jan |
down |
13 1/4 |
at |
1405 1/2 |
| |
March |
down |
17 1/4 |
at |
1392 1/4 |
| |
May |
down |
15 |
at |
1384 1/4 |
| |
July |
down |
13 1/4 |
at |
1382 |
| |
Aug |
down |
12 3/4 |
at |
1360 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans continued under pressure despite a positive undertone in equities and crude oil. A stronger dollar did provide some negative impetus. Technical selling remains a part of the market situation as funds and other reduce long positions. Concerns about large movement on the Mississippi will be a factor as we head into the first quarter of the year. Soon to be lead contract, March, has support between $13.56 to $13.45. Below that there isn’t much support for another $1.25 lower.
Wheat
Cash bid for January at Memphis 780 1/4 to 790 1/4;
| Bids to farmers at Local Elevators |
733-748; |
| River Elevators |
730-753; |
| Chicago Futures: |
March |
down |
22 3/4 |
at |
755 1/4 |
| |
May |
down |
21 3/4 |
at |
766 |
| |
July |
down |
20 3/4 |
at |
773 |
| |
Sept |
down |
19 3/4 |
at |
787 1/4 |
| |
Dec |
down |
19 1/2 |
at |
801 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1162 to - - -;
| Bids to farmers at River Elevators |
1055-1100; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
706 3/4 to 712 3/4; |
| |
New Crop at Memphis
575 1/2 to 595 1/2; |
| Bids to farmers at River Elevators |
691 to 714 |
| Chicago Futures: |
March |
down |
7 1/2 |
at |
690 3/4 |
| |
May |
down |
6 3/4 |
at |
693 1/2 |
| |
July |
down |
6 1/2 |
at |
690 3/4 |
| |
Sept |
down |
5 3/4 |
at |
615 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat registered a huge reversal down after starting off on the positive side. The next support for July is around $7.54 which was the higher back in May 2012. Improving crop conditions seem to be offsetting the assumed increase in export demand from lower price levels.
Corn lost ground today with March closing just above the 50% retracement objective at $6.83. A close below that would bring a possible test of the 62% retracement objective at $5.45. Congress included a one year extension of the farm bill which means producers have one more year of direct payments.
Cotton & Rice Date: January 02, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 22 at
7211 |
| |
Greenwood up
22 at 7211 |
| New York Futures: |
March |
up |
22 |
at |
7536 |
| |
May |
up |
37 |
at |
7623 |
| | July |
up |
44 |
at |
7731 |
| | Oct |
up |
31 |
at |
7886 |
| | Dec |
up |
92 |
at |
7966 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton managed to mark a slightly higher close. China had a positive consumer index number which should be a good indicator of improving product demand. Cotton will continue to struggle under the burden of heavy stocks and poor demand. New Crop December futures are struggling toward September resistance just above 81 cents.
Rice
| Long Grain Cash Bid for |
Jan |
1370/cwt |
to |
- - - |
| |
NC |
1431/cwt |
to |
- - - |
| Chicago Futures: |
Jan |
down |
10 1/2 |
at |
1475 1/2 |
| | March |
down |
13 |
at |
1504 1/2 |
| | May |
down |
12 1/2 |
at |
1536 |
| | July |
down |
12 1/2 |
at |
1562 |
| | Sept |
down |
10 |
at |
1530 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were not very active, while continuing to trade lower. The March contract has support around $14.91. Beyond that the long term charts offer support just above $14.60. There has been little fresh fundamental news to give the market direction. Perhaps the next few days will see that situation change.
Cattle & Hogs Date: January 02, 2013
Cattle
As reported by Federal-State Market News, receipts were - - - head
at sales in - - -.
Compared with last week, feeder steers - - - .
| Steers: |
| Medium & Large Frame 1 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| Medium & Large Frame 2 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| Medium & Large Frame 2 |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Slaughter Cows, Boners - - - to - - -
Light Weight - - - to - - -
Bulls, Yield Grade - - -
- - - to - - - lbs. - - -
to - - -
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| Heifers |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Chicago Futures:
| Live Cattle: |
Feb |
up |
7 |
at |
13237 |
| |
Apr |
down |
20 |
at |
13617 |
| Feeders: |
Jan |
down |
20 |
at |
15120 |
| |
March |
down |
37 |
at |
15390 |
Cattle Comment
Cattle futures closed mostly higher with feeders ending the session mixed. While congress completed a fiscal cliff package it didn’t extend the payroll tax cut which means wage earners will see a 2% increase their tax bill. That could inhibit demand for beef. Not much activity is expected in the cash market until later in the week.
Hogs
Peoria: were $1 lower to $1.50 higher
at 51.50 to 53.50
| Chicago Futures: |
Feb |
up |
45 |
at |
8617 |
| |
April |
up |
52 |
at |
8925 |
Hogs Comment
Hog futures were a little higher as the market retraced a portion of Monday’s decline. Last Friday’s hogs and pigs report was negative in that breeding numbers rose instead of declining. Weak packer margins are also a negative.
Poultry Date: January 02, 2013
Eggs
| New York: |
Ex. Lg. 113-121; Lg. 111-119; Med. 90-98; |
| Chicago: |
Ex. Lg. 120-124; Lg. 118-122; Med. 103-107; |
National Turkeys
| Hens: |
8-16 lbs |
97.50 |
| Toms: |
16-24 lbs |
99.50 |
| |
|
|
Delmarva Broilers
U.S. Grade AWhole broiler/fryers prices are trending firm to higher. Offerings of all sizes are light for current trade needs. Demand into retail and food service channels is moderate to good. Market activity is moderate to active. In production areas, live supplies are moderate at mostly desirable weights.