Grain & Soybean Date: January 25, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1434 to 1473
(NC) Summ. 1263 to 1298
River Elevators:
(Jan) MISS: 1499 to 1514 ; AR & White 1428
to 1469
(NC) Summ. 1272 to 1325
Ark. Processor Bids: (Jan) 1461 to 1471
(NC) 1288 to 1298
Memphis:
(Jan) 1501 to 1506 (NC)
1328 to - - -
Riceland Foods:
(Jan) Stuttgart 1461 ; Pendleton
1473
(NC) Stuttgart 1288 ; Pendleton
1298
| Chicago Futures: |
March |
up |
5 3/4 |
at |
1441 |
| |
May |
up |
2 1/4 |
at |
1426 |
| |
July |
up |
1/4 |
at |
1417 3/4 |
| |
Aug |
down |
1 1/2 |
at |
1391 |
| |
Sept |
down |
3 1/2 |
at |
1342 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed mixed with good exports slowing a mid-day downturn. With a huge South American crop on the horizon not exports for the week were better than expected. Total exports to date are up over 25% from the same time last year. USDA has forecast a slight decline on an annual basis, so the market is preparing for a shift to South America. Old crop March futures have layered resistance starting at this week’s high of $14.60, then $15.00, $15.45 and finally $15.70. Support starts near $13.60. For New Crop November resistance starts at this week’s high of $13.18, then $13.40 to $13.50. Support is just over $12.55.
Wheat
Cash bid for January at Memphis 811 1/2 to - - -;
| Bids to farmers at Local Elevators |
749-759; |
| River Elevators |
745-780; |
| Chicago Futures: |
March |
up |
8 |
at |
776 1/2 |
| |
May |
up |
7 3/4 |
at |
784 3/4 |
| |
July |
up |
6 1/4 |
at |
788 1/2 |
| |
Sept |
up |
4 3/4 |
at |
797 1/4 |
| |
Dec |
up |
4 1/4 |
at |
811 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1216 to - - -;
| Bids to farmers at River Elevators |
1108-1198; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
735 3/4 to 738 3/4; |
| |
New Crop at Memphis
572 1/4 to 587 1/4; |
| Bids to farmers at River Elevators |
727 to 741 |
| Chicago Futures: |
March |
down |
3 1/2 |
at |
720 3/4 |
| |
May |
down |
2 3/4 |
at |
721 1/2 |
| |
July |
down |
2 1/2 |
at |
712 3/4 |
| |
Sept |
down |
1 |
at |
607 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures posted solid gains on stronger than expected export sales. Old crop sales came in at 21 million bushels and new crop sales totaled 2.5 million bushels. Exports are now 3% behind last year’s pace. It now appears that USDA’s export estimate is within reach with foreign supplies dwindling and U.S. prices more competitive.
Corn was lower on poor demand. Ethanol production was up just slightly from last week’s two and a half year low. Use will need to average 4 to 5% more than this week to make the USDA yearly projection of 4.5 billion bushels of corn. Export demand was also weak. These factors are expected to limit upside potential with a big crop being harvested in South America. New Crop December is struggling to hold above $5.80 with expectations of a huge planted acreage in the U.S. this year.
Cotton & Rice Date: January 25, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 237 at
76.52 |
| |
Greenwood down
237 at 76.52 |
| New York Futures: |
March |
down |
237 |
at |
8052 |
| |
May |
down |
172 |
at |
8048 |
| | July |
down |
64 |
at |
8040 |
| | Oct |
up |
27 |
at |
7972 |
| | Dec |
down |
3 |
at |
7970 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton made a huge move lower as recent gains of over 10 cents prompted profit taking. The trade appears to be reacting to the fact that China is holding, or is expected to hold, over 50% of this year’s ending stocks. Concern about the availability of stocks led to the dramatic increase which swept the March contract to a 7 month high. At the same time new crop December couldn’t move about 80 cents. Given that prices versus corn and soybeans, U.S. plantings are expected to fall below 10 million acres in 2013.
Rice
| Long Grain Cash Bid for |
Jan |
1423/CWT |
to |
- - - |
| |
NC |
1466/CWT |
to |
- - - |
| Chicago Futures: |
March |
up |
19 1/2 |
at |
1548 |
| | May |
up |
18 1/2 |
at |
1579 |
| | July |
up |
17 1/2 |
at |
1605 |
| | Sept |
up |
10 1/2 |
at |
1566 |
| | Nov |
up |
10 1/2 |
at |
1567 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures were higher as the market continued a two week upturn that left March just under $13.50. March has a series of resistance levels beginning at $15.67, and extending to $15.90. Mills appear to have good business booked through March. There are indications Iran might buy more U.S. rice and Iraq is expected to tender at some point.
Cattle & Hogs Date: January 25, 2013
Cattle
As reported by Federal-State Market News, receipts were 7210 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold unevenly .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
189.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
162.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
143.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
171.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
146.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
150.00 |
to |
- - - |
Slaughter Cows, Boners 72.00 to 79.00
Light Weight 58.00 to 66.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 86.00
to 96.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
186.00 |
to |
205.00 |
| |
500 |
to |
550 lbs. |
164.00 |
to |
173.00 |
| Heifers |
450 |
to |
500 lbs. |
154.00 |
to |
158.50 |
| |
500 |
to |
550 lbs. |
142.50 |
to |
153.50 |
Chicago Futures:
| Live Cattle: |
Feb |
up |
42 |
at |
12630 |
| |
Apr |
up |
40 |
at |
13075 |
| Feeders: |
Jan |
up |
10 |
at |
14470 |
| |
March |
steady |
- - - |
at |
14795 |
Cattle Comment
Cattle futures ended mixed. Trading was slow ahead of the Cattle on Feed report, which was to be released today after the close. The report is expected to show a total on feed inventory 4-5% below this time last year.
Hogs
Peoria: were steady
at 56.00 to 58.00
| Chicago Futures: |
Feb |
down |
22 |
at |
8682 |
| |
April |
down |
75 |
at |
8892 |
Hogs Comment
Hogs were lower today, unable to build any momentum on Thursday’s stronger close. Demand concerns and negative packer margins are keeping a lid on the upside potential of the market.
Poultry Date: January 25, 2013
Eggs
| New York: |
Ex. Lg. 144-148; Lg. 142-146; Med. 118-122; |
| Chicago: |
Ex. Lg. 119-127; Lg. 117-125; Med. 95-103; |
National Turkeys
| Hens: |
8-16 lbs |
95.50 |
| Toms: |
16-24 lbs |
95.50 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices continue to move sharply lower for all prices in all regions when compared to the previous week. The undertone is steady to weak. Spot offerings of all sizes are moderate to heavy. Demand into retail and food service channels is light to moderate at best. Floor stocks are moderate. Market activity is light.