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: |
0¢ |
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 |
9 |
at |
763 1/4 |
| |
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
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 |
5 |
at |
692 |
| |
July |
down |
5 |
at |
680 1/4 |
| |
Sept |
down |
4 1/2 |
at |
577 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
9 |
at |
1552 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
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 AN/A