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Daily Market Report Archive

Grain & Soybean Date: February 05, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1489 to 1528
(NC) Summ. 1318 to 1348
River Elevators:
(Feb) MISS: 1516 to 1534 ; AR & White 1473 to 1509
(NC) Summ. 1323 to 1373
Ark. Processor Bids: (Feb) 1516 to 1526  (NC) 1338 to 1343
Memphis:  (Feb) 1535 1/2 to - - - (NC)  1368 1/4 to 1371 1/4
Riceland Foods:  (Feb) Stuttgart 1516 ; Pendleton 1528 
 (NC) Stuttgart 1338 ; Pendleton 1348 

Chicago Futures: March up 5 1/4 at  729
  May  up  5 1/2  at  730 3/4
  July up 5 1/2  at  722
  Sept up 4 3/4  at  613
  Dec up 3 3/4  at  590
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans erased overnight losses and ended the day higher. March again fell short of the $15 mark, but closed at the highest level since November 1, 2012. A close above $15 would suggest a move toward resistance at $15.50. Dry conditions in Argentina and wet conditions in the Mato Grosso area of Brazil, combined with Chinese demand to reverse early declines. New crop November also closed at the highest level in 3 months and could move toward the contract high of $14.09 with a close above $13.60.

Wheat
Cash bid for February at Memphis  792 1/2 to - - -;

Bids to farmers at Local Elevators 729-739;
River Elevators 725-759;

Chicago Futures: March down  5 1/2  at  757 1/2 
  May down 6 1/2  at  764 1/4 
  July down  7 1/2  at  768 1/2 
  Sept down  7 1/4  at  780 1/4 
  Dec down  6 1/4  at  796 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1248 to - - -;

Bids to farmers at River Elevators 1123-1230;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   751 to - - -;
  New Crop at Memphis   583 to 593;
Bids to farmers at River Elevators  to

Chicago Futures: March down  5 1/4  at  729 
  May down  5 1/2  at  730 3/4 
  July down  5 1/2  at  722 
  Sept down  4 3/4  at  613 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures continued lower today. Weak demand despite the fact that U.S. prices are now in better alignment with global prices continues to be a factor. July looks likely to retest support at the recent low of $7.52.

Corn remained under pressure and closed lower across the board. Weak demand for ethanol and limited export demand remain major features in a market that has been dealing with a tight supply situation for over seven months. The longer the situation exists the more detrimental the situation will be to producers long term. The price ratio of November beans versus December corn moved to 2.29 which is beginning to favor beans over corn.



Cotton & Rice  Date: February 05, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 23 at  7726
  Greenwood down  23 at 7726

New York Futures: March down  23  at  8151 
  May down  11  at  8246 
 July down  13  at  8324 
 Oct up  82  at  8270 
 Dec up  42  at  8191 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures were narrowly mixed with new crop contracts continued to tread slowly higher. December touched 82 cents at its peak. The spread between March and December is now a negative 49 points with March having fallen back from its recent high near 84 cents. That looks like stiff resistance for old crop.

Rice

Long Grain Cash Bid for  Feb 1505/cwt  to  - - -
  NC 1471/cwt  to  - - -

Chicago Futures: March up  27  at  1615 
 May up  24  at  1646 1/2 
 July up  24  at  1667 1/2 
 Sept down  3 1/2  at  1571 
 Nov down  3 1/2  at  1565 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures made strong gains in the first 3 contract months. However, the close was off the day’s highs. Tightening U.S. stocks have brought funds back to the market. Producers should be looking for opportunities to complete 2012 crop sales. March has resistance at $16.80, the contract high. Long term charts show resistance around $16.30, are near today’s high.



Cattle & Hogs  Date: February 05, 2013

Cattle
As reported by Federal-State Market News, receipts were 740 head at sales in Fort Smith and Heber Springs.  Compared with last week, feeder steers sold mostly $1 to $8 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 177 to - - -
  500 to 550 lbs. 169 to - - -
  600 to 650 lbs. 158 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 180 to - --

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 150 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 158 to - - -

Slaughter Cows, Boners 78   to   85
Light Weight 59 to 65
Bulls, Yield Grade   1   1000   to   2100 lbs.   88   to   99.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 173 to 188
  550 to 600 lbs. 166 to 175
Heifers 500 to 550 lbs. 152 to 162
  550 to 600 lbs. 151 to 154.50

Chicago Futures:
Live Cattle: Feb up 52 at 12760
  April up 2 at 13230
Feeders: March down 35 at 14852
  April down 37 at 15202

Cattle Comment
Cattle ended mostly lower after trading higher in early dealings. Stronger beef prices were supportive and helped improve packer margins.

Hogs
Peoria: were     steady   at   57   to   59

Chicago Futures: Feb up 25 at 8832
  April down 65 at 8770

Hogs Comment
Hog futures mostly lower today. Monday’s weakness in pork values added pressure, with the national average cash carcass value down $2.20 and the composite pork cutout down $1.03. April looks headed for a retest of support in the $87 range.



Poultry  Date: February 05, 2013

Eggs

New York:  Ex. Lg. 138-142; Lg. 136-140; Med. 110-114;
Chicago:  Ex. Lg. 139-147; Lg. 137-145; Med. 107-115;

National Turkeys
Hens: 8-16 lbs. 98
Toms: 16-24 lbs. 94.72
 

Delmarva Broilers
U.S. Grade A
n/a