Print this page

Daily Market Report Archive

Grain & Soybean Date: February 25, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1434 to 1471
(NC) Summ. 1236 to 1266
River Elevators:
(Feb) MISS: 1471 to 1493 ; AR & White 1428 to 1464
(NC) Summ. 1238 to 1291
Ark. Processor Bids: (Feb) 1461 to 1481  (NC) 1256 to 1261
Memphis:  (Feb) 1480 1/4 to 1486 1/4 (NC)  1290 1/2 to - - -
Riceland Foods:  (Feb) Stuttgart 1461 ; Pendleton 1471 
 (NC) Stuttgart 1256 ; Pendleton 1266 

Chicago Futures: March down 10 at  1451 1/4
  May  down  8 1/2  at  1435 1/4
  July down at  1422
  Aug down at  1381 1/2
  Sept down 6 1/4  at  1311 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were under pressure following Friday’s bearish key reversal. March held above support at $14.32 for the time being. USDA announced a sale of 120,000 metric tons to China, giving the market a boost. However, indications that the dollar will have further opportunities to strengthen remain a negative. USDA projected plantings of 77 million acres will likely keep a lid on prices.

Wheat
Cash bid for February at Memphis  729 1/4 to 734 1/4;

Bids to farmers at Local Elevators 680-670;
River Elevators 666-710;

Chicago Futures: March down  15 3/4  at  699 1/4 
  May down 13 1/2  at  705 1/4 
  July down  13 1/2  at  710 
  Sept down  13 1/4  at  719 1/4 
  Dec down  13  at  733 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1185 to - - -;

Bids to farmers at River Elevators 1060-1149;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   718 1/2 to - - -;
  New Crop at Memphis   542  to 552;
Bids to farmers at River Elevators  683 to 719

Chicago Futures: March up  3 1/4  at  693 1/2 
  May up  1 1/4  at  685 1/2 
  July down  1/4  at  671 1/2 
  Sept down  at  572 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was under pressure due to beneficial precipitation in the plains improving yield prospects. July is now within a dime of key support at $7.

Corn was mixed today with nearby contracts higher. New export sales of 127,000 metric tons were announced today, giving the market some support. USDA projected plantings of just over 96 million acres. New Crop December is testing support at $5.50. A decline below that level will likely see a move to $5.11 or lower.



Cotton & Rice  Date: February 25, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 142 at  7672
  Greenwood down  142 at 7672

New York Futures: March down  117  at  8022 
  May down  142  at  8172 
 July down  146  at  8255 
 Oct down  112  at  8344 
 Dec down  113  at  8251 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was lower across the board. USDA has projected sharply lower Chinese imports next year, adding to the negative undertone. With big stocks in hand they are expected to import just 8 million bales; the lowest number in 5 years. USDA projected world production at 115.5 million bales, which accounts for their estimates for world stocks to increase to 88.4 million bales. Not a pretty outlook for cotton.

Rice

Long Grain Cash Bid for  Feb 1432/cwt  to  - - -
  NC 1474/cwt  to  - - -

Chicago Futures: March down  16 1/2  at  1542 
 May down  16 1/2  at  1572 1/2 
 July down  16  at  1602 
 Sept down  at  1554 
 Nov up  2 1/2  at  1559 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were weaker again today. The recent increase in prices has resulted in weaker export demand. Buyers are lowering bids as futures have retreated. Weakness in soybeans is also a negative factor.



Cattle & Hogs  Date: February 25, 2013

Cattle
As reported by Federal-State Market News, receipts were - - - head at sales in - - -.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners - - -   to   - - -
Light Weight - - - to - - -
Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were   at   122.00   to   125.00
Panhandle Steers   were   at   123.00   to   125.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 176.00 to 182.00
  500 to 550 lbs. 170.50 to 177.50
Heifers 450 to 500 lbs. 148.00 to 152.50
  550 to 600 lbs. 132.00 to 134.50

Chicago Futures:
Live Cattle: Feb up 60 at 12695
  Apr up 20 at 12842
Feeders: March down 45 at 14080
  April down 7 at 14370

Cattle Comment
Cattle futures were mostly lower. Friday’s report showed the total on feed inventory is 6.2% below last year’s total. Overall tight supplies should limit the downside risk. However, negative cutout margins remaining a major factor in the current weakness.

Hogs
Peoria: were       at   48.00   to   50.00

Chicago Futures: April up 25 at 8190
  May down 100 at 8880

Hogs Comment
Hog futures were mixed but June found support just above $90 and ended the day higher. The market is oversold but negative cash market fundamentals continue to pressure futures.



Poultry  Date: February 25, 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 92.65
Toms: 16-24 lbs 92.75
 

Delmarva Broilers
U.S. Grade A
N/A