Print this page

Daily Market Report Archive

Grain & Soybean Date: January 14, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1401 to 1440
(NC) Summ. 1246 to 1269
River Elevators:
(Jan) MISS: 1478 to 1490 ; AR & White 1403 to 1448
(NC) Summ. 1251 to 1292
Ark. Processor Bids: (Jan) 1428 to 1448  (NC) 1261 to 1266
Memphis:  (Jan) 1488 to 1493 (NC)  1294 1/4 to 1295 1/4
Riceland Foods:  (Jan) Stuttgart 1438 ; Pendleton 1450 
 (NC) Stuttgart 1261 ; Pendleton 1269 

Chicago Futures: Jan up 35 at  1459 3/4
  March  up  44 3/4  at  1418
  May up 41 1/4  at  1405 1/4
  July up 41 1/4  at  1398 3/4
  Aug up 37  at  1369 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans moved sharply higher on projected strong usage in last week’s report. A larger crop was largely offset by a stronger domestic crush. While stocks were projected 5 million bushels higher they are still very tight at just 135 million bushels, or a stocks to use ratio of just 4.4%. Good crop prospects in South America will likely limit upside potential but today’s move above $14 suggest March could move toward the next resistance at $14.41 to $15. November has resistance at last week’s high of $12.94.

Wheat
Cash bid for January at Memphis  792 to 797;

Bids to farmers at Local Elevators 737-747;
River Elevators 731-762;

Chicago Futures: March up  12 1/4  at  767 
  May up 11 1/2  at  773 1/2 
  July up  10  at  777 
  Sept up  8 3/4  at  784 3/4 
  Dec up  8 1/4  at  798 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1221 to - - -;

Bids to farmers at River Elevators 1114-1204;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   739 to 742;
  New Crop at Memphis   585 to 590;
Bids to farmers at River Elevators  730 to 744

Chicago Futures: March up  15 1/4  at  724 
  May up  16  at  723 
  July up  15 1/4  at  714 
  Sept up  at  610 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat found renewed buying on a reduced stocks projection, smaller plantings than anticipated and poor crop conditions, particularly in the hard red production area. Soft red wheat was cut almost 50 million bushels, while hard red wheat acreage was actually down about 2% from last year. July futures moved back to Friday’s high just under $7.90 and is holding above downtrend resistance. A move toward resistance between $8 and $8.10 is possible.

Corn made double digit gains as the old crop contracts continued a retracement of recent losses. March closed above resistance at $7.15 and has its sights set on the next resistance at $7.34 or the 38% retracement objective of $7.44. New Crop December will have resistance at $5.92 last Friday’s reversal high. Last week’s report indicated strong feed usage and reduced projected stocks to just 602 million bushels, or a stocks to use ratio of 5.3%



Cotton & Rice  Date: January 14, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis  - - - at  72.27
  Greenwood   - - - at 72.27

New York Futures: March down  10  at  7552 
  May down  at  7636 
 July unchanged  - - -  at  7741 
 Oct down  at  7805 
 Dec up  10  at  7914 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was hit with good news/bad news last Friday. USDA cut harvested acreage by over a million acres, but raised yield leaving production 250,000 bales below previous estimates. Export use was raised 400,000 bales and ending stocks were lowered 600,000 bales to 4.8 million bales. However, world production and stocks were raised, largely because of a bigger Chinese crop. World stocks of 81.7 million bales will limit upside potential.

Rice

Long Grain Cash Bid for  Jan 1381/cwt  to  - - -
  NC 1429/cwt  to  - - -

Chicago Futures: Jan down  18 1/2  at  1485 
 March down  16  at  1506 
 May down  16  at  1537 1/2 
 July down  19 1/2  at  1560 1/2 
 Sept down  18 1/2  at  1529 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were mixed with nearby March and May contracts dipping as a result of the larger long grain production and ending stocks numbers in Friday’s report. World numbers were basically unchanged, but there are questions about some traditional U.S. rice purchasers. Haiti has apparently signed an agreement with Vietnam. Time will tell whether that will work or not.



Cattle & Hogs  Date: January 14, 2013

Cattle
As reported by Federal-State Market News, receipts were 1377 head at sales in Springdale & Ola.  Compared with last week, feeder steers sold firm to $4 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 178.00 to - - -
  500 to 550 lbs. 162.00 to - - -
  600 to 650 lbs. 145.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 165.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 149.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 147.50 to - - -

Slaughter Cows, Boners 70.00   to   78.00
Light Weight 58.00 to 65.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   87.00   to   93.00
Midwest Steers   were   at   125.00   to   126.00
Panhandle Steers   were   at   126.00   to   128.00

Oklahoma City Feeders
Steers 500 to 550 lbs. 173.00 to 181.50
  550 to 600 lbs. 159.00 to 173.00
Heifers 400 to 450 lbs. 158.00 to 163.00
  450 to 500 lbs. 156.50 to 162.00

Chicago Futures:
Live Cattle: Feb down 30 at 13035
  Apr up 20 at 13475
Feeders: Jan down 42 at 14945
  March down 2 at 15142

Cattle Comment
Cattle futures were mixed at the end of the session with softer beef demand larger supplies of available cattle weighing on the market. Recent light sales suggest feedlots supplies are increasing as indicated by bigger show lists.

Hogs
Peoria: were $1.50 lower to $2.50     higher   at   52.00   to   54.00

Chicago Futures: Feb up 102 at 8522
  April up 72 at 8785

Hogs Comment
Hog futures were mostly higher, based on a strong export situation and improving pork composite values. However, negative margins will likely keep packers cautious in the near term. Lower weights are a positive.



Poultry  Date: January 14, 2013

Eggs

New York:  Ex. Lg. 117-121; Lg. 115-119; Med. 103-107;
Chicago:  Ex. Lg. 109-117; Lg. 107-115; Med. 88-96;

National Turkeys
Hens: 8-16 lbs 95.23
Toms: 16-24 lbs 95.22
 

Delmarva Broilers
U.S. Grade A
All Delmarva Broiler comments will only be on Friday's reports from now on.