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: |
0¢ |
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: |
0¢ |
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: |
0¢ |
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 |
1 |
at |
616 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
3 |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 APrices 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.