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Daily Market Report Archive

Grain & Soybean Date: January 17, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1423 to 1462
(NC) Summ. 1245 to 1268
River Elevators:
(Jan) MISS: 1488 to 1500 ; AR & White 1425 to - - -
(NC) Summ. 1250 to 1295
Ark. Processor Bids: (Jan) 1450 to 1460  (NC) 1260 to 1277
Memphis:  (Jan) 1494 1/4 to - - - (NC)  1298 1/4 to - - -
Riceland Foods:  (Jan) Stuttgart 1450 ; Pendleton 1462 
 (NC) Stuttgart 1260 ; Pendleton 1268 

Chicago Futures: March down 6 1/4 at  1430 1/4
  May  down  6 1/2  at  1414 3/4
  July down 6 3/4  at  1406
  Aug down 6 1/2  at  1379 1/2
  Sept down at  1330 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
March Soybeans edged near $14.50 before a selloff left the market lower for the day. Losses were seen despite a good export report and positive outside markets (lower dollar and higher equities and crude oil). Some pressure developed after a Brazilian consulting firm raised their soybean estimate to 84mmt. That is 1.5mmt above USDA’s projection of last week.

Wheat
Cash bid for January at Memphis  808 1/4 to 811 1/4;

Bids to farmers at Local Elevators 755-765;
River Elevators 751-780;

Chicago Futures: March down  3 3/4  at  781 1/4 
  May down at  789 3/4 
  July down  at  795 1/4 
  Sept down  at  804 1/4 
  Dec down  at  817 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1222 to - - -;

Bids to farmers at River Elevators 1115-1204;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for January at Memphis   739 1/2 to 743 1/2;
  New Crop at Memphis   575 3/4 to 590 3/4;
Bids to farmers at River Elevators  731 to 745

Chicago Futures: March down  6 3/4  at  724 1/2 
  May down  6 1/2  at  1414 3/4 
  July down  6 1/2  at  1379 1/2 
  Sept down  at  1330 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures traded on either side of unchanged before closing a bit lower. July again moved above the $8 mark during the day but couldn’t hold that level. Weather is keeping hard red wheat in traders’ minds, while tighter soft red stocks are also a positive. However, an Iraqi tender for 300,000 metric tons went to Australia and Canada. Weakness in corn and soybeans was also a factor.

Corn supped for the first time in nine trading days. After 8 days of gains, or about 56 cents, traders took profits. Exports were just 15.5 million bushels, as sales remain below the weekly pace needed to reach last week’s projection of 950 million bushels for this marketing year. Dry conditions in Argentina will likely limit downside pressure. Retracement objectives of $7.44 and $7.64 remain viable.



Cotton & Rice  Date: January 17, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 45 at  7453
  Greenwood down  45 at 7453

New York Futures: March up  45  at  7778 
  May up  41  at  7819 
 July up  47  at  7886 
 Oct up  47  at  7907 
 Dec up  at  7929 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures were a little firmer on front end contracts. China continues to buy U.S. cotton with spinners actively pursuing U.S. origin over existing stocks. March briefly traded above 78 cents, and is about 135 points below the mid October high.

Rice

Long Grain Cash Bid for  Jan 1399/cwt  to  - - -
  NC 1443/cwt  to  - - -

Chicago Futures: March up  at  1524 
 May up  at  1554 1/2 
 July up  at  1579 1/2 
 Sept up  13  at  1543 
 Nov up  13  at  1544 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures closed a little higher but remain in a sideways pattern just above recent support at $15. U.S. mills remain busy with prior business scheduled into late March. Additional business with Iran remains a possibility.



Cattle & Hogs  Date: January 17, 2013

Cattle
As reported by Federal-State Market News, receipts were 927 head at sales in Ratcliff & Green Forest.  Compared with last week, feeder steers sold firm to $10 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 188.00 to - - -
  500 to 550 lbs. 172.00 to - - -
  600 to 650 lbs. 154.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 172.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 149.00 to - - -

Slaughter Cows, Boners 71.00   to   77.00
Light Weight 58.00 to - - -
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   89.00   to   - - -
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 171.00 to 186.00
  500 to 550 lbs. 177.00 to 182.00
Heifers 450 to 500 lbs. 154.00 to 166.00
  500 to 600 lbs. 149.00 to 155.50

Chicago Futures:
Live Cattle: Feb down 192 at 12660
  Apr down 182 at 13087
Feeders: Jan down 267 at 14440
  March down 237 at 14585

Cattle Comment
Cattle futures plummeted today, shattering several levels of support along the way. April moved to its lowest level in 6 months. Profit taking and ideas that cash cattle are bottoming sparked a rebound mid-day, and futures closed near the middle of the day’s trading range.

Hogs
Peoria: were     steady   at   53.00   to   55.00

Chicago Futures: Feb up 80 at 8595
  April up 65 at 8807

Hogs Comment
Hog futures were mixed again today. June broke out of the recent consolidation range early, but soon backed off the high, leaving resistance at $97.40. Support remains at $96.



Poultry  Date: January 17, 2013

Eggs

New York:  Ex. Lg. 126-130; Lg. 124-128; Med. 106-110;
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
N/A