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Daily Market Report Archive

Grain & Soybean Date: February 27, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1441 to 1478
(NC) Summ. 1227 to 1257
River Elevators:
(Feb) MISS: 1469 to 1488 ; AR & White 1426 to 1462
(NC) Summ. 1229 to 1282
Ark. Processor Bids: (Feb) 1468 to 1488  (NC) 1247 to 1252
Memphis:  (Feb) 1487 1/2 to - - - (NC)  1282 1/4 to - - -
Riceland Foods:  (Feb) Stuttgart 1468 ; Pendleton 1478 
 (NC) Stuttgart 1247 ; Pendleton 1257 

Chicago Futures: March up 9 3/4 at  1457 1/2
  May  up  7 3/4  at  1439 1/2
  July up 7 1/2  at  1426
  Aug up at  1381 3/4
  Sept up at  1309 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were mixed on news of export sales to China. USDA announced today two 120,000 metric ton sales to China, one for delivery in the 12/13 marketing year, and one for 13/14 marketing year. New crop beans were under pressure from economic concerns and improved soil moisture in the Midwest. 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  734 1/4 to - - -;

Bids to farmers at Local Elevators 675-685;
River Elevators 671-715;

Chicago Futures: March down  1 1/2  at  704 1/4 
  May up at  712 
  July up  at  715 
  Sept up  at  724 1/4 
  Dec up  3/4  at  738 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1213 to - - -;

Bids to farmers at River Elevators 1088-1178;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for February at Memphis   729 1/2 to - - -;
  New Crop at Memphis   547 3/4 to 557 3/4;
Bids to farmers at River Elevators  699 to 735

Chicago Futures: March up  4 1/2  at  709 1/2 
  May up  1/2  at  695 1/4 
  July down  1/4  at  678 3/4 
  Sept down  1 1/2  at  577 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was mixed. July is holding above support at $7 for the time being. The improved moisture situation in the plains is limiting the upside.

Corn futures were also mixed. Indications of improving ethanol demand were supportive for old crop. Today’s move by March should be seen as a sales opportunity for any old crop corn still in the bins. Improving soil moisture in key growing areas is keeping a lid on new crop contracts. December futures are struggling to hold above $5.50, with support at $5.10 the next likely downside objective.



Cotton & Rice  Date: February 27, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 255 at  7938
  Greenwood up  255 at 7938

New York Futures: March up  240  at  8273 
  May up  255  at  8438 
 July up  222  at  8480 
 Oct up  177  at  8537 
 Dec up  188  at  8470 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton made a sharp up-move today. December is testing resistance at 84.75 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 1477/cwt  to  - - -

Chicago Futures: March down  1/2  at  1547 1/2 
 May down  at  1577 
 July down  1/2  at  1606 
 Sept down  1 1/2  at  1557 
 Nov up  at  1557 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were mixed today, but were opposite other commodities. Old crop contracts were under pressure from big world stocks despite relatively strong exports. New crop contracts continue to be supported by prospects for significantly reduced acreage in 2013.



Cattle & Hogs  Date: February 27, 2013

Cattle
As reported by Federal-State Market News, receipts were 112 head at sales in Conway.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 139.50 to - - -
  500 to 550 lbs. - - - to - - -
  600 to 650 lbs. - - - to - - -
 Medium & Large Frame 2   400 to 450 lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   550 to 600 lbs. 128.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 135.50 to - - -

Slaughter Cows, Boners 75.00   to   80.00
Light Weight 57.00 to 60.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   95.00   to   98.00
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 127 at 12855
  Apr up 57 at 12987
Feeders: March up 27 at 14145
  April up 35 at 14437

Cattle Comment
Cattle futures turned higher today. Winter weather will hamper performance and limit marketings. April pushed back above $130, but have resistance at $130.62.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April down 57 at 8100
  May down 30 at 8920

Hogs Comment
Hog futures ended lower after trading higher in early dealings. June has found support at $90.27 ½. The market is oversold and due for a correction.



Poultry  Date: February 27, 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