Grain & Soybean Date: January 10, 2013
REMINDER: January Market Update Webinar tomorrow (Friday, Jan. 11) at 12:30 p.m. For more information call 501-519-4297.
Soybeans
Local Elevators:
(Jan) EAST AR: 1363 to 1402
(NC) Summ. 1242 to 1265
River Elevators:
(Jan) MISS: 1440 to 1452 ; AR & White 1365
to 1410
(NC) Summ. 1247 to 1282
Ark. Processor Bids: (Jan) 1390 to 1410
(NC) 1262 to 1257
Memphis:
(Jan) 1449 3/4 to - - - (NC)
1282 to 1287
Riceland Foods:
(Jan) Stuttgart 1390 ; Pendleton
1402
(NC) Stuttgart 1257 ; Pendleton
1265
| Chicago Futures: |
Jan |
down |
2 1/4 |
at |
1217 1/2 |
| |
March |
down |
5 3/4 |
at |
1379 3/4 |
| |
May |
down |
3 3/4 |
at |
1371 1/2 |
| |
July |
down |
5 |
at |
1367 1/4 |
| |
Aug |
down |
4 |
at |
1348 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans slid to the negative side as today’s traded ended. Even positive outside markets-stronger equities and crude oil and a very weak dollar-could not keep the market positive. The market is anticipating an upward adjustment in U.S. production numbers and a big crop projection out of South America. USDA will likely increase their export projection, since commitments are up more than 25% from a year ago and the current projection is lightly lower. Ending stocks should not change much. 2013 November has support between $12.56 and $12.64. Old crop March support is a double bottom at $13.56.
Wheat
Cash bid for January at Memphis 769 1/2 to 774 1/2;
| Bids to farmers at Local Elevators |
720-730; |
| River Elevators |
714-740; |
| Chicago Futures: |
March |
down |
1 |
at |
744 1/2 |
| |
May |
down |
1 |
at |
753 1/2 |
| |
July |
down |
1 1/4 |
at |
760 1/4 |
| |
Sept |
down |
1 3/4 |
at |
770 3/4 |
| |
Dec |
down |
384 |
at |
785 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1176 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
718 3/4 to 721 3/4; |
| |
New Crop at Memphis
582 1/4 to 587 1/4; |
| Bids to farmers at River Elevators |
700 to 714 |
| Chicago Futures: |
March |
up |
4 1/2 |
at |
698 3/4 |
| |
May |
up |
3 3/4 |
at |
697 1/2 |
| |
July |
up |
2 1/4 |
at |
690 1/2 |
| |
Sept |
up |
3 |
at |
607 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended mixed with all 2013 contracts lower. 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. July has support at the recent low of $7.55.
Corn continued to trend higher for the fourth day in a row as stronger Midwest basis levels attempt to move stocks off the farm and into the market. Demand remains a problem although ethanol use improved in December. December 2013 has gained almost 14 cents after holding support at $5.70.
Cotton & Rice Date: January 10, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 41 at
7195 |
| |
Greenwood up
41 at 7195 |
| New York Futures: |
March |
up |
41 |
at |
7520 |
| |
May |
up |
37 |
at |
7604 |
| | July |
up |
42 |
at |
7712 |
| | Oct |
up |
60 |
at |
7819 |
| | Dec |
up |
67 |
at |
7909 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
March cotton held in a sideways trading range between 74 and 77 cents. A weaker dollar was a positive factor in a market that must deal with huge world stocks. 2013 U.S. acreage estimates range from 2 to 3 million acres. World production is expected to decline 10 to 15 million bales.
Rice
| Long Grain Cash Bid for |
Jan |
1386/cwt |
to |
- - - |
| |
NC |
1441/cwt |
to |
|
| Chicago Futures: |
Jan |
down |
13 |
at |
1487 |
| | March |
down |
12 1/2 |
at |
1511 |
| | May |
down |
12 1/2 |
at |
1542 |
| | July |
down |
16 1/2 |
at |
1565 1/2 |
| | Sept |
down |
19 |
at |
1540 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice was pressured lower as the market failed to generate followthrough on early week gains. Recent sales to Iran were a positive factor, but Haiti, a traditional U.S. customer, appears to have made a deal with Vietnam. Longer term lower price levels now could be good, if producers opt to plant less rice.
Cattle & Hogs Date: January 10, 2013
Cattle
As reported by Federal-State Market News, receipts were 2015 head
at sales in Ratcliff and Green Forest.
Compared with last week, feeder steers sold firm to $10 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
184 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
168 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
159.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
172 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
144 |
to |
- - - |
|
| Medium & Large Frame 2 |
600 |
to |
650 lbs. |
138 |
to |
- - - |
Slaughter Cows, Boners 73 to 79
Light Weight 60 to 66
Bulls, Yield Grade 1-2
1000 to 2100 lbs. 85
to 92
Midwest Steers - - - at - - -
to - - -
Panhandle Steers - - - at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
172 |
to |
185 |
| |
550 |
to |
600 lbs. |
168 |
to |
175 |
| Heifers |
500 |
to |
550 lbs. |
151 |
to |
161 |
| |
550 |
to |
600 lbs. |
150 |
to |
157.50 |
Chicago Futures:
| Live Cattle: |
Feb |
steady |
0 |
at |
13155 |
| |
April |
down |
27 |
at |
13507 |
| Feeders: |
Jan |
down |
65 |
at |
15085 |
| |
March |
down |
85 |
at |
15292 |
Cattle Comment
Cattle futures were lower across the board again today, but losses were minimal compared with yesterday’s selloff. June in particular is testing key support in the $130 area, and a close below that level could signal a move into the $128 area.
Hogs
Peoria: were steady
at 51.50 to 53.50
| Chicago Futures: |
Feb |
up |
40 |
at |
8460 |
| |
April |
down |
22 |
at |
8710 |
Hogs Comment
Hogs took a breather today and posted modest gains across the board. However, earlier this week 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 10, 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 |
| Toms: |
16-24 lbs. |
99.50 |
| |
|
|
Delmarva Broilers
U.S. Grade AComment unavailable today