Grain & Soybean Date: February 07, 2013
Soybeans
Local Elevators:
(Feb) EAST AR: 1480 to 1519
(NC) Summ. 1294 to 1324
River Elevators:
(Feb) MISS: 1507 to 1525 ; AR & White 1464
to 1500
(NC) Summ. 1299 to 1349
Ark. Processor Bids: (Feb) 1507 to 1517
(NC) 1314 to 1319
Memphis:
(Feb) 1526 3/4 to 1529 3/4 (NC)
1349 to - - -
Riceland Foods:
(Feb) Stuttgart - - - ; Pendleton
- - -
(NC) Stuttgart - - - ; Pendleton
- - -
| Chicago Futures: |
March |
down |
3/4 |
at |
1486 3/4 |
| |
May |
down |
4 |
at |
1473 1/4 |
| |
July |
down |
6 1/4 |
at |
1462 1/4 |
| |
Aug |
down |
8 |
at |
1431 1/2 |
| |
Sept |
down |
9 |
at |
1374 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed mostly lower across the board. Improving South American weather and boosts in the expected Brazilian bean crop pressured the market. March futures again tested the $15 level before moving lower. A stronger dollar added to the negative undertone, as world economic concerns once again moved to the forefront. For now, the market appears to have topped.
Wheat
Cash bid for February at Memphis 791 to 796;
| Bids to farmers at Local Elevators |
724-734; |
| River Elevators |
720-756; |
| Chicago Futures: |
March |
down |
5 1/2 |
at |
756 |
| |
May |
down |
6 1/4 |
at |
763 |
| |
July |
down |
8 3/4 |
at |
763 1/2 |
| |
Sept |
down |
11 |
at |
771 1/4 |
| |
Dec |
down |
12 1/4 |
at |
784 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for February at Memphis 1216 to - - -;
| Bids to farmers at River Elevators |
1091-1198; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
February at Memphis
733 3/4 to 735 3/4; |
| |
New Crop at Memphis
559 1/4 to 569 1/4; |
| Bids to farmers at River Elevators |
700 to 734 |
| Chicago Futures: |
March |
down |
11 3/4 |
at |
710 3/4 |
| |
May |
down |
12 |
at |
712 |
| |
July |
down |
13 |
at |
701 3/4 |
| |
Sept |
down |
14 1/4 |
at |
589 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures were lower again today after another week of disappointing exports. Today’s report showed a drop of 1% from last week’s report, which was the very low end of trade expectations. July found support at $7.58 yesterday. A drop below that level would signal a retest of support at $7.52.
Corn was hit hard as both old and new crop contracts broke technical support which accelerated the downturn. Weak export sales, down over 50% from last year, contributed to the initial declines. A stronger dollar and weaker equity markets were also factors in the 5th straight day of declines. March futures closed below support at $7.14 to $7.14 and could move toward the next support at $6.80. New crop December fell to the lowest level since late June of last year. The close below $5.70 leaves the market vulnerable to further declines.
Cotton & Rice Date: February 07, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 11 at
7726 |
| |
Greenwood down
11 at 7726 |
| New York Futures: |
March |
down |
32 |
at |
8140 |
| |
May |
down |
27 |
at |
8228 |
| | July |
down |
27 |
at |
8305 |
| | Oct |
up |
39 |
at |
8330 |
| | Dec |
up |
38 |
at |
8238 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was mixed with old crop lower while a late move pushed new crop contracts a little higher. December futures are continuing a slow grind higher after topping resistance at 81.2 cents a couple of days ago. A gap area around 85 cents becomes a likely upside target.
Rice
| Long Grain Cash Bid for |
Feb |
- - - |
to |
- - - |
| |
NC |
- - - |
to |
- - - |
| Chicago Futures: |
March |
down |
8 |
at |
1612 |
| | May |
down |
8 |
at |
1643 1/2 |
| | July |
down |
9 |
at |
1664 1/2 |
| | Sept |
down |
9 1/2 |
at |
1566 |
| | Nov |
down |
9 1/2 |
at |
1560 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice eventually followed grains and beans lower. March hit resistance at $16.30 earlier this week and has worked sideways to a little lower since prospects of TRQ sales to Columbia on top of recent business with Iran pushed some buttons and raised concerns about tightening U.S. stocks. Upside potential seems limited, but from a technical standpoint a close above $16.30 could signal a move toward the March contract high of $16.80.
Cattle & Hogs Date: February 07, 2013
Cattle
As reported by Federal-State Market News, receipts were 3501 head
at sales in Ratcliff and Green Forest.
Compared with last week, feeder steers sold mostly $3 to $5 higher, instances $6 to $8 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
198.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
173 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
160 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
186 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
150 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
152 |
to |
- - - |
Slaughter Cows, Boners 75 to 82
Light Weight 62 to 65
Bulls, Yield Grade 1-2
1000 to 2100 lbs. 88
to 99
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
179 |
to |
186.50 |
| |
550 |
to |
600 lbs. |
169 |
to |
177.50 |
| Heifers |
500 |
to |
550 lbs. |
154 |
to |
164 |
| |
550 |
to |
600 lbs. |
152 |
to |
156 |
Chicago Futures:
| Live Cattle: |
Feb |
up |
30 |
at |
12755 |
| |
April |
up |
7 |
at |
13152 |
| Feeders: |
March |
down |
35 |
at |
14720 |
| |
April |
down |
35 |
at |
15057 |
Cattle Comment
Cattle futures were under pressure again today and ended lower with the exception of nearby February. Technical selling, a stronger dollar and demand concerns were all negative factors.
Hogs
Peoria: were steady
at 57 to 59
| Chicago Futures: |
Feb |
up |
7 |
at |
8697 |
| |
April |
up |
27 |
at |
8652 |
Hogs Comment
Hog futures were mostly lower as well. The market is focused on negative packer margins and further declines in product values. The charts have taken on a very negative appearance. June moved to a 6 month low and looks to have broken out of a bear flag formation, and setting a downward objective of $93.15.
Poultry Date: February 07, 2013
Eggs
| New York: |
Ex. Lg. 124-128; Lg. 122-126; Med. 96-100; |
| 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 An/a