Grain & Soybean Date: January 29, 2013
Soybeans
Local Elevators:
(Jan) EAST AR: 1445 to 1484
(NC) Summ. 1273 to 1308
River Elevators:
(Jan) MISS: 1510 to 1525 ; AR & White 1434
to 1480
(NC) Summ. 1282 to 1340
Ark. Processor Bids: (Jan) 1472 to 1482
(NC) 1298 to 1308
Memphis:
(Jan) 1521 3/4 to 1523 3/4 (NC)
1337 1/4 to - - -
Riceland Foods:
(Jan) Stuttgart 1472 ; Pendleton
1484
(NC) Stuttgart 1298 ; Pendleton
1308
| Chicago Futures: |
March |
up |
4 |
at |
1451 3/4 |
| |
May |
up |
6 1/4 |
at |
1439 3/4 |
| |
July |
up |
6 3/4 |
at |
1429 1/2 |
| |
Aug |
up |
6 1/4 |
at |
1402 |
| |
Sept |
up |
6 |
at |
1353 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans continued with a firm undertone, helped by a weaker dollar and renewed Chinese interest. The Chinese are concerned about the potential for another weather driven market and appear determined to cover a substantial portion of their needs early. November soybeans continue to firm relative to December corn with the price ratio moving to 2.24. This could pull additional acreage to soybeans, particularly if the corn soybeans rotation is out of balance.
Wheat
Cash bid for January at Memphis 812 to 815;
| Bids to farmers at Local Elevators |
751-761; |
| River Elevators |
747-782; |
| Chicago Futures: |
March |
down |
2 1/4 |
at |
777 |
| |
May |
down |
2 1/4 |
at |
785 3/4 |
| |
July |
down |
1 1/4 |
at |
791 1/4 |
| |
Sept |
down |
1 3/4 |
at |
799 1/4 |
| |
Dec |
down |
1 3/4 |
at |
812 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for January at Memphis 1231 to - - -;
| Bids to farmers at River Elevators |
1124-1213; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
January at Memphis
747 1/2 to 749 1/2; |
| |
New Crop at Memphis
575 1/2 to 590 1/2; |
| Bids to farmers at River Elevators |
726 to 750 |
| Chicago Futures: |
March |
up |
1/4 |
at |
729 1/2 |
| |
May |
up |
3/4 |
at |
730 |
| |
July |
unchanged |
- - - |
at |
720 1/2 |
| |
Sept |
down |
3 |
at |
610 1/2 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures turned lower today. Canada now says it will have the largest wheat acreage in the last 10 years, adding concern that global stocks will grow. July has support at the recent low just above $7.50 and resistance at last week’s high of $8.13.
Corn was mixed with small gains registered in the front 2 contracts. Concerns about the Argentine corn crop and a weaker dollar limited downside declines. March futures need to close about several layers of resistance around the $7.30 area to sustain the current upturn, and move toward potential upside objectives between $7.60 and $7.70. New Crop December is laboring in a very narrow pattern around $5.90. The market appears reluctant to move about $6.
Cotton & Rice Date: January 29, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 134 at
7839 |
| |
Greenwood up
134 at 7839 |
| New York Futures: |
March |
up |
134 |
at |
8239 |
| |
May |
up |
157 |
at |
8258 |
| | July |
up |
173 |
at |
8270 |
| | Oct |
up |
123 |
at |
8126 |
| | Dec |
up |
119 |
at |
8118 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
March cotton made another strong rebound toward 84 cents with renewed export interest stimulating traders. There is resistance just about this level on long term charts. Whether there is enough demand to drive the market higher is a big question, especially with huge stocks projected. New Crop December is testing early September resistance just about 81 cents. It will probably take a significant upturn to buy acres back from corn and soybeans.
Rice
| Long Grain Cash Bid for |
Jan |
1443/cwt |
to |
- - - |
| |
NC |
1470/cwt |
to |
- - - |
| Chicago Futures: |
March |
up |
17 1/2 |
at |
1552 1/2 |
| | May |
up |
17 1/2 |
at |
1584 1/2 |
| | July |
up |
17 |
at |
1610 1/2 |
| | Sept |
up |
12 1/2 |
at |
1570 |
| | Nov |
up |
12 1/2 |
at |
1571 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures continue an erratic trading pattern with March reversing early declines to close about recent resistance at $15.50. This opens the market to test resistance between $15.70 and $15.90. U.S. export commitments have topped 2mmt and are about 14% above year ago levels.
Cattle & Hogs Date: January 29, 2013
Cattle
As reported by Federal-State Market News, receipts were 690 head
at sales in Ft. Smith & Heber Springs.
Compared with last week, feeder steers sold mostly steady .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
177.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
168.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
147.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
164.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
145.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
137.50 |
to |
- - - |
Slaughter Cows, Boners 77.00 to 83.00
Light Weight 59.00 to 63.50
Bulls, Yield Grade 1
1000 to 2100 lbs. 88.50
to 95.00
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
400 |
to |
450 lbs. |
205.00 |
to |
215.00 |
| |
550 |
to |
600 lbs. |
163.00 |
to |
172.00 |
| Heifers |
450 |
to |
500 lbs. |
146.50 |
to |
154.00 |
| |
500 |
to |
600 lbs. |
141.50 |
to |
149.00 |
Chicago Futures:
| Live Cattle: |
Feb |
down |
67 |
at |
12827 |
| |
Apr |
down |
42 |
at |
13297 |
| Feeders: |
Jan |
steady |
- - - |
at |
14580 |
| |
March |
down |
107 |
at |
14882 |
Cattle Comment
Cattle futures ended lower but traded well within Monday’s trading range. The market got a big boost yesterday when it was announced Japan has agreed to allow imports of beef from cattle slaughtered at 30 months of age and younger. The limit has been 20 months since 2005, when Japan limited imports due to BSE.
Hogs
Peoria: were steady
at 56.00 to 58.00
| Chicago Futures: |
Feb |
down |
7 |
at |
8710 |
| |
April |
up |
57 |
at |
8962 |
Hogs Comment
Hog futures were no better than mixed today. Marketing has been light, and packers have had to bid higher to bring hogs to market. However, demand is uncertain, and packer margins are negative now, which could limit the upside potential. April has support at $88 and then the recent low of $86.87.
Poultry Date: January 29, 2013
Eggs
| New York: |
Ex. Lg. 146-150; Lg. 144-148; Med. 118-122; |
| Chicago: |
Ex. Lg. 135-143; Lg. 133-141; Med. 105-113; |
National Turkeys
| Hens: |
8-16 lbs |
95.50 |
| Toms: |
16-24 lbs |
95.50 |
| |
|
|
Delmarva Broilers
U.S. Grade AN/A