Grain & Soybean Date: January 09, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1369 to 1408
(NC) Summ. 1249 to 1272
River Elevators:
(Jan) MISS: 1446 to 1458 ; AR & White 1371
to 1416
(NC) Summ. 1254 to 1289
Ark. Processor Bids: (Jan) 1396 to 1416
(NC) 1264 to 1269
Memphis:
(Jan) 1449 1/2 to 1455 1/2 (NC)
1289 to 1294
Riceland Foods:
(Jan) Stuttgart 1396 ; Pendleton
1408
(NC) Stuttgart 1264 ; Pendleton
1272
| Chicago Futures: |
Jan |
up |
6 |
at |
1419 3/4 |
| |
March |
down |
1 |
at |
1385 1/2 |
| |
May |
down |
3/4 |
at |
1375 1/4 |
| |
July |
down |
1/4 |
at |
1372 1/4 |
| |
Aug |
down |
1/4 |
at |
1352 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans couldn’t gain much momentum except in the expiring January contract. Friday’s report is expected to show an upward adjustment in the production estimate which will be largely offset by use, leaving the ending stocks basically unchanged to slightly higher. There has been noted interest from China in buying beans through Northwest U.S. ports. Currently Brazil’s production is expected to rise almost 25% from last year’s drought reduced crop.
Wheat
Cash bid for January at Memphis 770 1/2 to 775 1/2;
| Bids to farmers at Local Elevators |
722-732; |
| River Elevators |
716-742; |
| Chicago Futures: |
March |
down |
5 |
at |
745 1/2 |
| |
May |
down |
5 3/4 |
at |
754 1/2 |
| |
July |
down |
5 3/4 |
at |
761 1/2 |
| |
Sept |
down |
6 1/2 |
at |
772 1/2 |
| |
Dec |
down |
6 1/4 |
at |
786 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1168 to - - -;
| Bids to farmers at River Elevators |
1061-1106; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
719 1/4 to - - -; |
| |
New Crop at Memphis
579 1/4 to 584 1/4; |
| Bids to farmers at River Elevators |
701 to 714 |
| Chicago Futures: |
March |
up |
5 1/2 |
at |
694 1/4 |
| |
May |
up |
5 |
at |
693 3/4 |
| |
July |
up |
5 1/4 |
at |
688 1/4 |
| |
Sept |
up |
5 |
at |
604 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat continued under pressure and there doesn’t seem to be much concern about forecasted cold temps across the Midwest later this week. Drought remains a concern across much of the hard winter wheat area, so increased plantings may be offset by abandoned acreage. Areas of soft red production could be threatened by expected heavy rainfall.
Corn firmed again today with gains of 4 to 5 cents in most contracts. March futures moved to 6.96 at one point in today’s trade. It will take some positive numbers to move above the January 2nd high of $7.07 ¼. There is additional resistance just above $7.15. New Crop December was up 4 cents, but additional gains could be difficult. There is considerable chart resistance around $6.
Cotton & Rice Date: January 09, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 33 at
7154 |
| |
Greenwood down
33 at 7154 |
| New York Futures: |
March |
down |
33 |
at |
7479 |
| |
May |
down |
31 |
at |
7567 |
| | July |
down |
20 |
at |
7670 |
| | Oct |
down |
29 |
at |
7759 |
| | Dec |
down |
21 |
at |
7842 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton continued to trade in a sideways pattern between 74 to 76 cents. Upside potential won’t improve very much unless there are big adjustments in demand and world production. U.S. plantings are likely to be down 2 million acres or more according to early forecasts.
Rice
| Long Grain Cash Bid for |
Jan |
1399/cwt |
to |
- - - |
| |
NC |
1460/cwt |
to |
- - - |
| Chicago Futures: |
Jan |
up |
4 |
at |
1500 |
| | March |
up |
3 |
at |
1523 1/2 |
| | March |
up |
2 1/2 |
at |
1554 1/2 |
| | July |
up |
2 1/2 |
at |
1582 |
| | Sept |
up |
2 |
at |
1559 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice firmed slightly after several days of little activity. There continues to be little fresh fundamental news although Iran appears to have purchased at least two cargoes of U.S. rice, with perhaps another pending. The Haitian purchase of Vietnam rice could be a major negative, if in fact it is accomplished. Mills appear to have enough business booked to carry them through March.
Cattle & Hogs Date: January 09, 2013
Cattle
As reported by Federal-State Market News, receipts were 448 head
at sales in Conway.
Compared with last week, feeder steers - - - .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
170.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
165.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
147.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
157.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
143.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
135.50 |
to |
- - - |
Slaughter Cows, Boners 72.00 to 80.00
Light Weight 55.00 to 60.00
Bulls, Yield Grade 1
1000 to 2000 lbs. 85.00
to 92.50
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
400 |
to |
450 lbs. |
184.00 |
to |
203.00 |
| |
500 |
to |
550 lbs. |
171.00 |
to |
186.00 |
| Heifers |
450 |
to |
500 lbs. |
153.00 |
to |
160.00 |
| |
500 |
to |
550 lbs. |
150.00 |
to |
158.25 |
Chicago Futures:
| Live Cattle: |
Feb |
down |
100 |
at |
13155 |
| |
Apr |
down |
95 |
at |
13535 |
| Feeders: |
Jan |
down |
122 |
at |
15150 |
| |
March |
down |
122 |
at |
15377 |
Cattle Comment
Cattle futures were hit hard by technical selling and continued poor packer margins. Cattle seem to be following hogs lower, while feeders are being negatively influenced by recent price gains in corn.
Hogs
Peoria: were steady
at 51.50 to 53.50
| Chicago Futures: |
Feb |
down |
215 |
at |
8420 |
| |
April |
down |
262 |
at |
8732 |
Hogs Comment
As indicated yesterday June hog futures blew through support just below 98 and stopped just short of support at $96. Hogs will be looking for some solid demand support to short circuit this downward spiral.
Poultry Date: January 09, 2013
Eggs
| New York: |
Ex. Lg. 117-121; Lg. 115-119; Med. 103-107; |
| Chicago: |
Ex. Lg. 109-117; Lg. 107-115; Med. 90-98; |
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.