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 |
4 |
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: |
0¢ |
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 |
4 |
at |
743 1/2 |
| |
July |
up |
4 1/2 |
at |
745 3/4 |
| |
Sept |
up |
4 3/4 |
at |
755 1/2 |
| |
Dec |
up |
4 |
at |
769 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
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: |
0¢ |
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 |
2 |
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: |
0¢ |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 AN/A