Grain & Soybean Date: January 08, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1370 to 1409
(NC) Summ. 1246 to 1269
River Elevators:
(Jan) MISS: 1447 to 1459 ; AR & White 1372
to 1417
(NC) Summ. 1251 to 1286
Ark. Processor Bids: (Jan) 1397 to 1417
(NC) 1261 to 1266
Memphis:
(Jan) 1451 1/2 to 1456 1/2 (NC)
1285 3/4 to 1290 3/4
Riceland Foods:
(Jan) Stuttgart 1397 ; Pendleton
1409
(NC) Stuttgart 1261 ; Pendleton
1269
| Chicago Futures: |
Jan |
up |
3 |
at |
1413 3/4 |
| |
March |
down |
2 |
at |
1386 1/2 |
| |
May |
down |
1 3/4 |
at |
1376 |
| |
July |
down |
1 |
at |
1372 1/2 |
| |
Aug |
unchanged |
|
at |
1352 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed narrowly mixed with negative outside markets – weaker equities and a stronger dollar limiting upside movement. Soybeans were essentially stable after staging a good rally yesterday. Traders appear to be taking a cautious approach ahead of Fridays report. Export sales appear to be moving to South America. At the same time the rate of growth in Chinese imports is slowing. Lower palm oil values continue to weigh on the soybean market. Technically, March support at $13.56 looks firm. New crop November has support at a dollar lower.
Wheat
Cash bid for January at Memphis 775 1/2 to 780 1/2;
| Bids to farmers at Local Elevators |
727-737; |
| River Elevators |
721-747; |
| Chicago Futures: |
March |
down |
3/4 |
at |
760 1/2 |
| |
May |
down |
3/4 |
at |
760 1/4 |
| |
July |
down |
1/2 |
at |
767 1/4 |
| |
Sept |
down |
2 |
at |
779 |
| |
Dec |
down |
2 1/4 |
at |
792 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1158 to - - -;
| Bids to farmers at River Elevators |
925-933; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
713 3/4 to - - -; |
| |
New Crop at Memphis
574 1/4 to 579 1/4; |
| Bids to farmers at River Elevators |
695 to 709 |
| Chicago Futures: |
March |
up |
3 1/4 |
at |
688 3/4 |
| |
May |
up |
3 1/2 |
at |
688 3/4 |
| |
July |
up |
4 1/2 |
at |
683 |
| |
Sept |
up |
2 1/2 |
at |
599 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended the day slightly lower following a late selloff. There are suggestions that winter wheat plantings could be up from expectations. However, this is likely to be more than offset by abandoned acreage as crop progress reports suggest poor development due to drought in some major production areas. July futures are attempting to hold above $7.50.
Corn remained firm with gains of 3 to 4 cents through the early 2014 contracts. South Korea has been a big buyer of corn in recent days but it appears they are sourcing it from places other than the U.S. Traders are looking ahead to Fridays report, which will be released at midday during pit trading hours. Corn has made limit moves the last six years following this report. So, expect some surprises.
Cotton & Rice Date: January 08, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 59 at
7187 |
| |
Greenwood down
59 at 7187 |
| New York Futures: |
March |
down |
59 |
at |
7512 |
| |
May |
down |
55 |
at |
7598 |
| | July |
down |
57 |
at |
7690 |
| | Oct |
down |
70 |
at |
7788 |
| | Dec |
down |
78 |
at |
7863 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton remains in a sideways pattern just below the recent high near 77 cents. With China holding a year’s supply of cotton there are questions about how much export demand will be seen this year. Early projections suggest world production will be 10 to 15 million bales lower this year while demand could grow 3 to 5 million bales. It will take some time to get huge world stocks at a more reasonable level.
Rice
| Long Grain Cash Bid for |
Jan |
1396/cwt |
to |
- - - |
| |
NC |
1458/cwt |
to |
- - - |
| Chicago Futures: |
Jan |
down |
1 1/2 |
at |
1496 |
| | March |
down |
1/2 |
at |
1520 1/2 |
| | May |
down |
2 1/2 |
at |
1552 1/2 |
| | July |
down |
2 1/2 |
at |
1580 |
| | Sept |
up |
3 |
at |
1558 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were narrowly mixed with little fresh fundamental news to give the market direction and help sustain the rally of late last week. March futures should have good support around $14.90. It is yet to be determined what impact a potential deal between Haiti and Vietnam will have on U.S. exports. Haiti has been a long time U.S. customer.
Cattle & Hogs Date: January 08, 2013
Cattle
As reported by Federal-State Market News, receipts were 1272 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers - - - .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
185.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
167.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
150.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
181.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
148.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
146.00 |
to |
- - - |
Slaughter Cows, Boners 75.00 to 82.00
Light Weight 60.00 to 64.50
Bulls, Yield Grade 1
1000 to 2100 lbs. 82.50
to 96.50
Midwest Steers were at - - -
to - - -
Panhandle Steers were at 128.00
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
165.00 |
to |
182.50 |
| |
500 |
to |
550 lbs. |
167.00 |
to |
180.00 |
| Heifers |
450 |
to |
500 lbs. |
148.00 |
to |
156.00 |
| |
500 |
to |
550 lbs. |
146.5 |
to |
155.50 |
Chicago Futures:
| Live Cattle: |
Feb |
down |
45 |
at |
13255 |
| |
Apr |
down |
40 |
at |
13630 |
| Feeders: |
Jan |
down |
52 |
at |
15272 |
| |
March |
down |
110 |
at |
15500 |
Cattle Comment
Cattle futures were pressured by larger than expected supplies of market ready animals. Lower wholesale beef values also imply lower demand which raises concern about general economic considerations. Feeder futures were pressured by recent firming in the grain markets ahead of Fridays report.
Hogs
Peoria: were steady
at 51.50 to 53.50
| Chicago Futures: |
Feb |
up |
5 |
at |
8635 |
| |
April |
up |
40 |
at |
8995 |
Hogs Comment
Hog futures were lower despite a small improvement in packer margins. June futures appear to be ready to test support just below $98 and could be headed to the mid- September low near $96.
Poultry Date: January 08, 2013
Eggs
| New York: |
Ex. Lg. 109-117; Lg. 107-115; Med. 90-98; |
| Chicago: |
Ex. Lg. 117-121; Lg. 115-119; Med. 103-107; |
National Turkeys
| Hens: |
8-16 lbs |
97.00 |
| Toms: |
16-24 lbs |
99.50 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices continue higher this week for all reported prices in all regions when compared to the previous week. The undertone is reported as more steady with a few areas reporting it as weak. Spot offering of all sizes are light to moderate. Demand into retail and food service channels is moderate to good with most buyers resistant to the higher prices. Floor stocks are light to at times moderate. Truck availability remains tight. Market activity is moderate.