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 |
7 |
at |
1422 |
| |
Aug |
down |
8 |
at |
1381 1/2 |
| |
Sept |
down |
6 1/4 |
at |
1311 3/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
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: |
0¢ |
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: |
0¢ |
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 |
1 |
at |
572 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
5 |
at |
1554 |
| | Nov |
up |
2 1/2 |
at |
1559 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
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 AN/A