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Daily Market Report Archive

Grain & Soybean Date: February 26, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1431 to 1468
(NC) Summ. 1228 to 1258
River Elevators:
(Feb) MISS: 1462 to 1483 ; AR & White 1419 to 1455
(NC) Summ. 1230 to 1283
Ark. Processor Bids: (Feb) 1458 to 1478  (NC) 1248 to 1253
Memphis:  (Feb) 1477 3/4 to - - - (NC)  1282 3/4 to - - -
Riceland Foods:  (Feb) Stuttgart 1458 ; Pendleton 1468 
 (NC) Stuttgart 1248 ; Pendleton 1258 

Chicago Futures: March down 3 1/2 at  1447 3/4
  May  down  3 1/2  at  1431 3/4
  July down 3 1/2  at  1418 1/2
  Aug down 3 3/4  at  1377 3/4
  Sept down 4 1/2  at  1307 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were lower with good Brazilian harvest weather adding pressure. Declines were limited by concerns about Brazilian transportation problems which could delay movement. U.S. budget problems and concerns about election results in Italy added to the negative undertone. Old Crop beans could move toward the next layer of support just above $14, while November is struggling to hold above $12.50. Below that support at $12.25 is the only thing between the market and the early June 2012 low of $11.40.

Wheat
Cash bid for February at Memphis  735 3/4 to 736 3/4;

Bids to farmers at Local Elevators 684-674;
River Elevators 670-714;

Chicago Futures: March up  6 1/2  at  705 3/4 
  May up 5 3/4  at  711 
  July up  at  714 
  Sept up  at  7232 1/4 
  Dec up  4 1/2  at  738 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1205 to - - -;

Bids to farmers at River Elevators 1080-1170;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   725 to - - -;
  New Crop at Memphis   549 1/4 to 559 1/4;
Bids to farmers at River Elevators  694 to 730

Chicago Futures: March up  11 1/2  at  705 
  May up  9 1/4  at  694 3/4 
  July up  7 1/2  at  679 
  Sept up  7 1/4  at  579 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat turned higher to end the day despite posting losses in early dealings. July tested key support at $7 before turning higher. The improved moisture situation in the plains is limiting the upside.

Corn got a good boost from improved demand and indications drought has reduced the crop in Argentina below the current USDA projection. March futures climbed above $7 and any move above $7.05 should be used for additional 2012 crop pricing. December futures are struggling to hold above $5.50, with support at $5.10 the next likely downside objective.



Cotton & Rice  Date: February 26, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 11 at  7683
  Greenwood down  11 at 7683

New York Futures: March up  11  at  8033 
  May up  11  at  8183 
 July up  at  8258 
 Oct up  16  at  8360 
 Dec up  31  at  8282 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton had moved into a sideways pattern after both old and new crop made strong moves toward 85 cents. USDA projected 10 million acres in plantings for 2013 with a crop of 14 million bales. That is a million acres more cotton than the National Cotton Council acreage survey indicated. Huge cuts of just over 50% were projected for the mid-south. Acreage cuts were projected to 18 to 25% in other cotton areas.

Rice

Long Grain Cash Bid for  Feb 1438/cwt  to  - - -
  NC 1479/cwt  to  - - -

Chicago Futures: March up  at  1548 
 May up  5 1/2  at  1578 
 July up  4 1/2  at  1606 1/2 
 Sept up  4 1/2  at  1558 1/2 
 Nov down  at  1551 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures firmed slightly after dropping over a dollar in the last two weeks. U.S. export sales and shipments continue at a good pace, but big world stocks, particularly in Thailand are hanging over the market. It appears that Iran may move to Thailand after making several purchases from the U.S.



Cattle & Hogs  Date: February 26, 2013

Cattle
As reported by Federal-State Market News, receipts were 486 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold unevenly, mostly steady to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 180.00 to - - -
  500 to 550 lbs. 166.00 to - - -
  600 to 650 lbs. 153.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 170.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 151.00 to - - -

Slaughter Cows, Boners 77.00   to   84.00
Light Weight 60.00 to 65.50
Bulls, Yield Grade   1   1000   to   2100 lbs.   95.00   to   - - -
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 176.00 to 182.00
  500 to 550 lbs. 168.00 to 177.50
Heifers 450 to 500 lbs. 148.00 to 152.50
  500 to 550 lbs. 146.50 to 151.25

Chicago Futures:
Live Cattle: Feb up 32 at 12727
  Apr up 87 at 12930
Feeders: March up 37 at 14117
  April up 32 at 14402

Cattle Comment
Cattle futures turned higher today. Winter weather will hamper performance and limit marketing’s. April has down trending resistance just above the day’s high of $129.60.

Hogs
Peoria: were     steady   at   48.00   to   50.00

Chicago Futures: Feb down 32 at 8157
  April up 70 at 8950

Hogs Comment
Hog futures were mixed again today. June has found support at $90.27 ½ two days in a row. The market is oversold and due for a correction.



Poultry  Date: February 26, 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