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Daily Market Report Archive

Grain & Soybean Date: February 19, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1453 to 1490
(NC) Summ. 1245 to 1275
River Elevators:
(Feb) MISS: 1490 to 1510 ; AR & White 1447 to 1483
(NC) Summ. 1249 to 1300
Ark. Processor Bids: (Feb) 1480 to 1500  (NC) 1265 to 1270
Memphis:  (Feb) 1505 1/4 to 1510 1/4 (NC)  1299 3/4 to - - -
Riceland Foods:  (Feb) Stuttgart 1480 ; Pendleton 1490 
 (NC) Stuttgart 1265 ; Pendleton 1275 

Chicago Futures: March up 45 3/4 at  1470 1/4
  May  up  42 1/2  at  1457 1/4
  July up 40 3/4  at  1445 1/2
  Aug up 34 3/4  at  1403 3/4
  Sept up 25  at  1330
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans got a welcome boost from a big export announcement. USDA said this morning that China bought 12,000 metric tons of old crop beans yesterday. Wet weather is delaying the Brazilian harvest, which is also offering support. Old crop March gapped higher today after testing support at the key $14 level last week. November has key support at $12.55 and a close below that level would likely signal further losses.

Wheat
Cash bid for February at Memphis  767 1/4 to 770 1/4;

Bids to farmers at Local Elevators 702-712;
River Elevators 698-737;

Chicago Futures: March down  10  at  732 1/4 
  May down 9 3/4  at  738 3/4 
  July down  9 1/4  at  741 3/4 
  Sept down  9 3/4  at  750 1/4 
  Dec down  at  763 1/4 
  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   720 1/4 to 725 1/4;
  New Crop at Memphis   547 3/4 to 557 3/4;
Bids to farmers at River Elevators  684 to 723

Chicago Futures: March down  3 1/2  at  695 1/4 
  May down  at  692 
  July down  at  680 1/4 
  Sept down  4 1/2  at  577 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures struggled today and the charts are taking on a bearish appearance. U.S. wheat is very competitive on the global market at current price levels, but so far the expected bump in exports has not materialized. July is building support near $7.30, but is working on an outside day down, meaning that support may not hold.

Corn futures were also under pressure. Last week’s low of $5.52 is now support for the December contract while old support at $5.70 now becomes resistance. Any move back to this level should be viewed as a pricing opportunity for a portion of expected 2013 production.



Cotton & Rice  Date: February 19, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis  79.13 at  - - -
  Greenwood   79.13 at - - -

New York Futures: March up  86  at  8218 
  May up  94  at  8413 
 July up  90  at  8495 
 Oct up  105  at  8488 
 Dec up  58  at  8383 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was mostly higher, with March breaking above previous resistance at 84 cents, the top of the consolidation pattern. December also hit resistance at 84 today, but backed off a bit. The market reacted positively to the National Cotton Council planting intentions report that put U.S. acreage for 2013 at just over 9 million acres. China holds the key to further upside potential with their stocks expected to reach 42.6 million bales. If they release cotton to the market it will have a negative impact.

Rice

Long Grain Cash Bid for  Feb 1482/cwt  to  - - -
  NC 1475/cwt  to  - - -

Chicago Futures: March up  8 1/2  at  1592 
 May up  8 1/2  at  1624 
 July up  9 1/2  at  1652 1/2 
 Sept up  4 1/2  at  1554 1/2 
 Nov up  at  1552 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures firmed today after losses in early dealings. March charted a big outside day up, suggesting that further gains are possible. U.S. shipments against earlier sales continue with old crop long grain supplies in Texas and Louisiana quickly disappearing. It appears rice will lose some acreage to beans or corn in 2013.



Cattle & Hogs  Date: February 19, 2013

Cattle
As reported by Federal-State Market News, receipts were 1636 head at sales in Ft. Smith, Heber Springs, Ola & Springdale.  Compared with last week, feeder steers sold mostly weak to $6 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 180.00 to - - -
  500 to 550 lbs. 162.00 to - - -
  600 to 650 lbs. 155.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 174.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 144.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 145.00 to - - -

Slaughter Cows, Boners 75.00   to   83.00
Light Weight 60.00 to 67.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   93.00   to   99.50
Midwest Steers   were   at   123.00   to   123.00
Panhandle Steers   were   at   123.00   to   123.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 182.00 to 192.00
  500 to 550 lbs. 179.00 to 186.50
Heifers 400 to 500 lbs. 160.00 to 175.00
  500 to 600 lbs. 142.50 to 158.00

Chicago Futures:
Live Cattle: Feb down 10 at 12640
  Apr down 90 at 12955
Feeders: March down 20 at 14317
  April down 45 at 14617

Cattle Comment
Cattle futures were lower across the board. The market continues to worry about demand and already weak packer margins.

Hogs
Peoria: were     steady   at   51.00   to   53.00

Chicago Futures: April down 120 at 8305
  May down 87 at 9075

Hogs Comment
Hog futures were weaker again today. June hogs moved to their lowest level in 7 months today. The market is oversold, however, so a bounce could come at any time.



Poultry  Date: February 19, 2013

Eggs

New York:  Ex. Lg. 109-113; Lg. 107-111; Med. 92-96;
Chicago:  Ex. Lg. 100-108; Lg. 98-106; Med. 80-88;

National Turkeys
Hens: 8-16 lbs 95.00
Toms: 16-24 lbs 96.29
 

Delmarva Broilers
U.S. Grade A
N/A