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Daily Market Report Archive

Grain & Soybean Date: February 01, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1467 to 1506
(NC) Summ. 1303 to 1328
River Elevators:
(Feb) MISS: 1508 to 1514 ; AR & White 1451 to 1487
(NC) Summ. 1308 to 1358
Ark. Processor Bids: (Feb) 1494 to 1504  (NC) 1323 to 1328
Memphis:  (Feb) 1509 1/4 to 1512 1/4 (NC)  1355 1/2 to 1357 1/2
Riceland Foods:  (Feb) Stuttgart 1494 ; Pendleton 1506 
 (NC) Stuttgart 1323 ; Pendleton 1333 

Chicago Futures: March up 5 3/4 at  1474 1/4
  May  up  5 3/4  at  1465 1/2
  July up 5 3/4  at  1455 1/4
  Aug up 6 3/4  at  1426
  Sept up 6 3/4  at  1374 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans had retraced a portion of early gains at noon today. It appears that beans will close higher for the fourth consecutive week. China continues to be a strong new crop soybean purchase, with several big buys announced this week. Coupled with continued weather concerns in South America this again boosted old crop March to within 15 cents of resistance at $15.01. A close about that level would open the market to the next resistance at $15.45. New Crop November could move toward October resistance near $13.60 with a close about $13.40.

Wheat
Cash bid for February at Memphis  797 to 800;

Bids to farmers at Local Elevators 738-748;
River Elevators 734-768;

Chicago Futures: March down  14 1/2  at  765 
  May down 14 3/4  at  773 1/4 
  July down  15  at  778 1/4 
  Sept down  12 1/4  at  789 1/4 
  Dec down  11  at  804 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1261 to - - -;

Bids to farmers at River Elevators 1243;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   758 to - - -;
  New Crop at Memphis   586 1/4 to 596 1/4;
Bids to farmers at River Elevators  725 to 756

Chicago Futures: March down  4 1/2  at  736 
  May down  4 1/4  at  737 3/4 
  July down  4 1/2  at  728 3/4 
  Sept up  at  616 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Selling accelerated today in the wheat pit. The market was disappointed by yesterday’s export report. The weekly total was down 49% from last week’s total and was down 32% from the four week average. The market took the news hard, especially considering U.S. wheat is now considered more competitive price wise and Black Sea supplies are running out. July is testing support at the recent low of $7.76.

Corn was mixed at midday as nearby contracts topped to the negative side after early gains melted away. The new EPA mandate for corn ethanol raised the number by 4.55% to 13.8 billion gallons. However, that may not matter since poor margins are holding production back with the current usage rate suggested an annualized production rate of just 12 billion gallons. The midday decline left the market in limbo going into the weekend.



Cotton & Rice  Date: February 01, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 3 at  7873
  Greenwood up  3 at 7873

New York Futures: March up  at  8298 
  May up  40  at  8355 
 July up  44  at  8388 
 Oct up  60  at  8229 
 Dec up  31  at  8146 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was narrowly mixed at noon with old crop March unable to break about resistance near 84 cents. New crop December continues to tread water around 81 cents.

Rice

Long Grain Cash Bid for  Feb 1446/cwt  to  - - -
  NC 1464/cwt  to  - - -

Chicago Futures: March up  5 1/2  at  1556 
 May up  5 1/2  at  1588 1/2 
 July up  5 1/2  at  1613 1/2 
 Sept down  4 1/2  at  1563 1/2 
 Nov down  4 1/2  at  1564 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were under modest pressure at midday with small declines in the front contracts. Big world stocks, particularly large intervention stocks in Thailand are a drag on the market. U.S. mills will be looking for new business for later this spring.



Cattle & Hogs  Date: February 01, 2013

Cattle
As reported by Federal-State Market News, receipts were 6415 head at sales in Arkansas this week.  Compared with last week, feeder steers sold firm to $10 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 190.50 to - - -
  500 to 550 lbs. 171.00 to - - -
  600 to 650 lbs. 153.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 173.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 148.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 156.50 to - - -

Slaughter Cows, Boners 73.00   to   81.00
Light Weight 61.00 to 68.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   88.00   to   98.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 192.00 to 197.00
  500 to 550 lbs. 170.00 to 179.00
Heifers 450 to 500 lbs. 153.00 to 156.00
  500 to 550 lbs. 147.50 to 155.50

Chicago Futures:
Live Cattle: Feb down 52 at 12710
  Apr down 62 at 13217
Feeders: March down 35 at 14920
  Apr down 45 at 15212

Cattle Comment
Cattle futures were lower across the board. Disappointing movement and a crop in a drop of $1.44 in the choice cutout value on Thursday added to the negative undertone. The market is expected to be supported next week by USDA’s semi-annual Cattle Inventory Report, which is expected to show that the cattle herd shrank for the 6th straight year in 2012.

Hogs
Peoria: were $1 lower to $3     higher   at   56.00   to   58.00

Chicago Futures: Feb up 5 at 8765
  April down 60 at 8875

Hogs Comment
Hog futures were also lower today. The April close suggest that further weakness is likely, however the market should have solid support in the $87 range.



Poultry  Date: February 01, 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 98.00
Toms: 16-24 lbs 94.72
 

Delmarva Broilers
U.S. Grade A
Prices are mostly steady in all regions when compared to the previous week. Spot offerings are light to moderate with the heavier sizes in longest position late week. Demand into retail and food service channels is generally light to moderate with good weekend movement. Floor stocks are light to moderate. Market activity is slow to moderate.