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Daily Market Report Archive

Grain & Soybean Date: February 13, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1406 to 1443
(NC) Summ. 1243 to 1273
River Elevators:
(Feb) MISS: 1443 to 1463 ; AR & White 1400 to 1436
(NC) Summ. 1248 to 1298
Ark. Processor Bids: (Feb) 1433 to 1453  (NC) 1263 to 1268
Memphis:  (Feb) 1463 to 1467 (NC)  1297 1/2 to - - -
Riceland Foods:  (Feb) Stuttgart 1413 ; Pendleton 1443 
 (NC) Stuttgart 1263 ; Pendleton 1270 

Chicago Futures: March up 2 1/4 at  1423
  May  up  at  1413 1/2
  July up 3 3/4  at  1404 3/4
  Aug up 2 3/4  at  1369 1/2
  Sept up 1 1/2  at  1310 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans again ended the session mixed, but a reversal of the past few days, with old crop higher and new crop lower. The reversal in March was not a major correction and still leaves the market was a negative undertone and a potential to move toward the next level of support at $13.50. November reversed off the low to move 10 cents higher but still down for the day. Support at $12.55 to $12.60 remains a potential target in the near term.

Wheat
Cash bid for February at Memphis  775 1/2 to - - -;

Bids to farmers at Local Elevators 706-716;
River Elevators 702-741;

Chicago Futures: March up  3 1/2  at  735 1/2 
  May up at  743 1/2 
  July up  4 1/2  at  745 3/4 
  Sept up  4 3/4  at  755 1/2 
  Dec up  at  769 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1188 to - - -;

Bids to farmers at River Elevators 1063-1188;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   722 1/2 to 723 1/2;
  New Crop at Memphis   553 to 563;
Bids to farmers at River Elevators  685 to 721

Chicago Futures: March down  3/4  at  695 1/2 
  May down  at  693 1/2 
  July down  3 3/4  at  683 1/4 
  Sept up  1 3/4  at  583 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures found some buying interest today when July neared the $7.30 area. U.S. wheat is very competitive on the global market at these price levels. However, India has tendered to export a large amount of wheat and is positioned well logistically for where the demand is at this time.

Corn closed mixed and followed the pattern of recent days with new crop contracts edging higher. March support at $6.80 remains vulnerable with corn demand, particularly for exports and ethanol remaining weak. December futures have fallen below old support at $5.70 and could be vulnerable to further declines, perhaps to the June low of $5.10. Rebounds will find resistance at the old support level of $5.70.



Cotton & Rice  Date: February 13, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 99 at  7657
  Greenwood down  99 at 7657

New York Futures: March down  99  at  8082 
  May down  89  at  8221 
 July down  75  at  8320 
 Oct down  71  at  8326 
 Dec down  73  at  8277 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures were lower today with March dropping below 81 cents although the market trimmed losses near the close. Resistance at 84 cents appears to be firm for both old and new crop. However, December may have more upward potential than old crop contracts, since U.S. plantings are now projected to be just over 9 million acres.

Rice

Long Grain Cash Bid for  Feb 14.75/cwt  to  - - -
  NC 14.83/cwt  to  - - -

Chicago Futures: March up  19 1/2  at  1585 1/2 
 May up  19  at  1615 1/2 
 July up  19  at  1644 1/2 
 Sept up  5 1/2  at  1563 
 Nov up  7 1/2  at  1548 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures reversed again today and were able close a little higher. Overall U.S. movement has been good recently with sales to Iran, Columbia, Haiti and smaller movement to other destinations. Rough rice sales to Central and South America have been steady. Whether this trend continues may depend on price and availability from soon to be harvested South American crops. Technically, it looks as if resistance around $16.30 will hold.



Cattle & Hogs  Date: February 13, 2013

Cattle
As reported by Federal-State Market News, receipts were 215 head at sales in Conway.  Compared with last week, feeder steers sold $4 to $8 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 179.50 to - - -
  500 to 550 lbs. 159.00 to - - -
  600 to 650 lbs. 141.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 163.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 138.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 133.00 to - - -

Slaughter Cows, Boners 75.00   to   82.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2000 lbs.   92.00   to   98.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 177.00 to 182.00
  500 to 550 lbs. 176.00 to 186.00
Heifers 400 to 500 lbs. 161.00 to 178.00
  500 to 550 lbs. 157.00 to 166.00

Chicago Futures:
Live Cattle: Feb down 55 at 12550
  Apr down 55 at 12940
Feeders: March down 190 at 14135
  April down 220 at 14495

Cattle Comment
Cattle futures were lower again today, but trading remained well within yesterday’s wide trading range. April will find support first at Tuesday’s low of $128.27. Concerns about demand and weak packer margins are adding pressure.

Hogs
Peoria: were steady to $1     lower   at   54.00   to   56.00

Chicago Futures: Feb up 22 at 8747
  April down 20 at 8580

Hogs Comment
Hog futures ended mixed. June futures closed lower, but held within yesterday’s trading range. The market is focused on negative packer margins and further declines in product values.



Poultry  Date: February 13, 2013

Eggs

New York:  Ex. Lg. 110-114; Lg. 108-112; Med. 92-96;
Chicago:  Ex. Lg. 116-124; Lg. 114-122; Med. 84-92;

National Turkeys
Hens: 8-16 lbs 95.00
Toms: 16-24 lbs 95.00
 

Delmarva Broilers
U.S. Grade A
N/A