Grain & Soybean Date: January 16, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1430 to 1469
(NC) Summ. 1257 to 1280
River Elevators:
(Jan) MISS: 1504 to 1507 ; AR & White 1432
to - - -
(NC) Summ. 1262 to 1307
Ark. Processor Bids: (Jan) 1457 to 1467
(NC) 1272 to 1277
Memphis:
(Jan) 1511 1/2 to - - - (NC)
1306 to 1310
Riceland Foods:
(Jan) Stuttgart 1457 ; Pendleton
1469
(NC) Stuttgart 1272 ; Pendleton
1280
| Chicago Futures: |
March |
up |
23 |
at |
1436 1/2 |
| |
May |
up |
21 1/2 |
at |
1421 1/4 |
| |
July |
up |
20 |
at |
1412 3/4 |
| |
Aug |
up |
20 3/4 |
at |
1386 |
| |
Sept |
up |
20 |
at |
1339 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans posted double digit gains on strong crush demand and initial concerns about developing dry conditions in previously wet areas of Argentina. March futures moved about resistance at $14.35 in the late trade and a close above $14.43 would suggest a technical move toward $15.
Wheat
Cash bid for January at Memphis 810 to 815;
| Bids to farmers at Local Elevators |
757-767; |
| River Elevators |
751-782; |
| Chicago Futures: |
March |
up |
2 1/4 |
at |
785 |
| |
May |
up |
2 3/4 |
at |
793 3/4 |
| |
July |
up |
3 |
at |
797 1/4 |
| |
Sept |
up |
3 |
at |
805 1/4 |
| |
Dec |
up |
3 |
at |
818 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1234 to - - -;
| Bids to farmers at River Elevators |
1127-1217; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
746 1/4 to 749 1/4; |
| |
New Crop at Memphis
583 to 598; |
| Bids to farmers at River Elevators |
737 to 751 |
| Chicago Futures: |
March |
up |
3/4 |
at |
731 1/4 |
| |
May |
up |
1/2 |
at |
731 1/4 |
| |
July |
up |
1/4 |
at |
721 1/4 |
| |
Sept |
up |
4 |
at |
618 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat reversal early declines to close on a positive note. July ventured above $8 before backing off at the close. Weather is keeping hard red wheat in traders’ minds, while tighter soft red stocks are also a positive. Limited alternative supplies should keep the focus of importers on the U.S.
Corn closed the day with modest gains, after showing a slightly weaker undertone through most of the session. There appears to be two different markets developing with old crop being carried by tight stocks and new crop being limited by potentially large U.S. plantings in 2013. March futures have matched resistance at $7.35 the last 2 days and could move to retracement objectives at $7.44, and then $7.64. Declining ethanol demand could limit upside movement.
Cotton & Rice Date: January 16, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 112 at
7408 |
| |
Greenwood up
112 at 7408 |
| New York Futures: |
March |
up |
112 |
at |
7733 |
| |
May |
up |
94 |
at |
7778 |
| | July |
up |
71 |
at |
7839 |
| | Oct |
up |
28 |
at |
7860 |
| | Dec |
up |
17 |
at |
7924 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton ended the session higher with March futures reaching the highest level since mid-October. A move to the October high just above 79 cents is possible, but the question is how much, China will be in the market. China is the major importer of the U.S. cotton, but is projected to have almost 41 million bales of stocks at the end of the current marketing year.
Rice
| Long Grain Cash Bid for |
Jan |
1390/cwt |
to |
- - - |
| |
NC |
1430/cwt |
to |
- - - |
| Chicago Futures: |
March |
up |
9 |
at |
1515 |
| | May |
up |
8 1/2 |
at |
1545 1/2 |
| | July |
up |
8 1/2 |
at |
1572 1/2 |
| | Sept |
down |
1/2 |
at |
1530 |
| | Nov |
down |
1/2 |
at |
1531 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures found support at $15 and made a limited rebound to close mixed. There is little fresh fundamental news to give this market direction, so far the time being it is likely to trade sideways. Lower price levels likely mean less acres in 2013 which could lead to a stronger market situation down the road.
Cattle & Hogs Date: January 16, 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 - - - |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| Medium & Large Frame - - - |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Heifers: |
| Medium & Large Frame - - - |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
|
| Medium & Large Frame - - - |
- - - |
to |
- - - lbs. |
- - - |
to |
- - - |
Slaughter Cows, Boners - - - to - - -
Light Weight - - - to - - -
Bulls, Yield Grade - - -
- - - to - - - lbs. - - -
to - - -
Midwest Steers were at 125.00
to - - -
Panhandle Steers were at 125.00
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
177.00 |
to |
187.50 |
| |
500 |
to |
550 lbs. |
169.25 |
to |
183.00 |
| Heifers |
450 |
to |
500 lbs. |
156.50 |
to |
163.00 |
| |
500 |
to |
550 lbs. |
146.00 |
to |
157.00 |
Chicago Futures:
| Live Cattle: |
Feb |
down |
190 |
at |
12852 |
| |
Apr |
down |
172 |
at |
13270 |
| Feeders: |
Jan |
down |
125 |
at |
14707 |
| |
March |
down |
215 |
at |
14822 |
Cattle Comment
Cattle futures were pounded again today with April live cattle falling to a two month low. Today’s close is just a dollar away from key support, which given the long term supply situation, should hold. At least further declines would appear to be limited. However retailers are slow to replenish high end cuts amid concerns about consumer spending.
Hogs
Peoria: were
at 53.00 to 55.00
| Chicago Futures: |
Feb |
down |
10 |
at |
8515 |
| |
April |
down |
17 |
at |
8742 |
Hogs Comment
Hog futures were narrowly mixed. Further improvement in packer margins could see stronger demand develop as supplies tighten.
Poultry Date: January 16, 2013
Eggs
| New York: |
Ex. Lg. 123-127; Lg. 121-125; 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 AN/A