Grain & Soybean Date: January 24, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1428 to 1467
(NC) Summ. 1266 to 1301
River Elevators:
(Jan) MISS: 1493 to 1500 ; AR & White 1422
to 1463
(NC) Summ. 1275 to 1326
Ark. Processor Bids: (Jan) 1455 to 1465
(NC) 1291 to 1301
Memphis:
(Jan) 1495 1/4 to 1500 1/4 (NC)
1325 3/4 to 1327 3/4
Riceland Foods:
(Jan) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
March |
down |
1 3/4 |
at |
1435 1/4 |
| |
May |
down |
3 |
at |
1423 3/4 |
| |
July |
down |
2 1/4 |
at |
1417 1/2 |
| |
Aug |
down |
2 |
at |
1392 1/2 |
| |
Sept |
down |
1 |
at |
1346 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were under pressure early as traders continued to take profits on recent gains. Beneficial rains in Argentina were also a negative factor. Most farmers remain reluctant sellers at least for the time being. Crop prospects in South America remain excellent and export demand in the U.S. is expected to decline as purchasers move their business south. March will need to close above Tuesday’s high of $14.60 to extend this upturn.
Wheat
Cash bid for January at Memphis 798 1/2 to 803 1/2;
| Bids to farmers at Local Elevators |
742-752; |
| River Elevators |
738-770; |
| Chicago Futures: |
March |
down |
6 1/4 |
at |
768 1/2 |
| |
May |
down |
6 3/4 |
at |
777 |
| |
July |
down |
6 1/2 |
at |
782 1/4 |
| |
Sept |
down |
7 1/2 |
at |
792 1/2 |
| |
Dec |
down |
7 1/2 |
at |
806 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
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: |
0¢ |
Corn
| Cash bid for |
January at Memphis
739 1/4 to 742 1/4; |
| |
New Crop at Memphis
573 1/4 to 588 1/4; |
| Bids to farmers at River Elevators |
730 to 744 |
| Chicago Futures: |
March |
up |
3 1/2 |
at |
724 1/4 |
| |
May |
up |
1 1/2 |
at |
724 1/4 |
| |
July |
down |
1 3/4 |
at |
715 1/4 |
| |
Sept |
down |
3 3/4 |
at |
608 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures posted losses across the board. Today’s weakness was due to carryover weakness from other contracts and strong European exports this week.
Corn declined, but March remains in a narrow trading range just below the recent high of $7.35 for the time being. Weak demand from Midwest ethanol plants contributed to a weaker undertone in the corn market.
Cotton & Rice Date: January 24, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis unchanged 78.89 at
- - - |
| |
Greenwood unchanged
78.89 at - - - |
| New York Futures: |
March |
up |
241 |
at |
8289 |
| |
May |
up |
153 |
at |
8220 |
| | July |
up |
60 |
at |
8104 |
| | Oct |
down |
34 |
at |
7945 |
| | Dec |
down |
4 |
at |
7973 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was mixed again today with front end contracts continuing to firm after March closed above the Mid-October high of 79.19 cents. Good export demand has extended recent gains moving trading above the long term range that had contain the market for some time. For now Chinese mills see U.S. supplies as a better deal than stocks in their own country. That could change at any time. The next upside objective is the 38% retracement level of 80.66 cents. New Crop December continues to hold just under 80 cents.
Rice
| Long Grain Cash Bid for |
Jan |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
March |
down |
2 |
at |
1528 1/2 |
| | May |
down |
2 |
at |
1560 1/2 |
| | July |
down |
1 1/2 |
at |
1587 1/2 |
| | Sept |
up |
1/2 |
at |
1555 1/2 |
| | Nov |
up |
1/2 |
at |
1556 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were under pressure again today. Big world supplies remain an obstacle, although there seems to be little overlap with the Asian markets at this time. The U.S. is looking at potentially more sales to Iran, and Iraq is expected to tender at any time. The Memorandum of Understanding between Haiti and Vietnam remains a possible setback, and could limit upside potential.
Cattle & Hogs Date: January 24, 2013
Cattle
As reported by Federal-State Market News, receipts were 1193 head
at sales in Ratcliff & Green Forest.
Compared with last week, feeder steers sold unevenly .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
190.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
169.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
149.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
171.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
143.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
145.00 |
to |
- - - |
Slaughter Cows, Boners 73.00 to 80.00
Light Weight 59.00 to 66.00
Bulls, Yield Grade 1-2
1000 to 2100 lbs. 88.00
to 94.50
Midwest Steers were at 122.00
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
183.00 |
to |
198.00 |
| |
500 |
to |
550 lbs. |
176.00 |
to |
184.00 |
| Heifers |
450 |
to |
500 lbs. |
152.00 |
to |
159.00 |
| |
500 |
to |
600 lbs. |
142.75 |
to |
154.00 |
Chicago Futures:
| Live Cattle: |
Feb |
up |
10 |
at |
12587 |
| |
Apr |
down |
10 |
at |
13035 |
| Feeders: |
Jan |
up |
40 |
at |
14460 |
| |
March |
up |
80 |
at |
14795 |
Cattle Comment
Cattle futures posted across the board gains today. The market is building on support at Friday’s low of $124.80. Position evening ahead of tomorrow’s cattle on feed report was supportive for live futures, and feeders were supported by weaker corn prices.
Hogs
Peoria: were $1 higher to $3 lower
at 56.00 to 58.00
| Chicago Futures: |
Feb |
up |
107 |
at |
8705 |
| |
April |
up |
167 |
at |
8967 |
Hogs Comment
Hogs ended higher today. Bitterly cold temperatures have limited hog runs and as a result, slaughter this week is down 5.3% from last week. However, already negative packer margins have fallen further into the red, which will limit the upside.
Poultry Date: January 24, 2013
Eggs
| New York: |
Ex. Lg. 142-146; Lg. 140-144; Med. 116-120; |
| Chicago: |
Ex. Lg. 119-127; Lg. 117-125; Med. 95-103; |
National Turkeys
| Hens: |
8-16 lbs |
98.00 |
| Toms: |
16-24 lbs |
95.50 |
| |
|
|
Delmarva Broilers
U.S. Grade AN/A