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Daily Market Report Archive

Grain & Soybean Date: March 01, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1427 to 1470
(NC) Summ. 1231 to 1261
River Elevators:
(March) MISS: 1476 to 1495 ; AR & White 1429 to 1269
(NC) Summ. 1233 to 1286
Ark. Processor Bids: (March) 1454 to 1495  (NC) 1251 to 1256
Memphis:  (March) 1490 1/2 to 1491 1/2 (NC)  1286 1/4 to - - -
Riceland Foods:  (March) Stuttgart 1454 ; Pendleton 1464 
 (NC) Stuttgart 1251 ; Pendleton 1261 

Chicago Futures: March down 9 3/4 at  1464 1/2
  May  down  8 3/4  at  1443 1/2
  July down 8   at  1427 1/4
  Aug up 3 3/4  at  1388
  Sept up 1/4  at  1317
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were mostly lower with old crop contracts reversing early morning gains. Soybean fundamentals were a mixed bag which accounted for several shifts in the day’s trading. Informa released their estimates showing a slight gain in the Brazilian crop and big loss in the Argentina crop. Soon to be lead contract May is expected to chop sideways with resistance at this week’s high of $14.97 and support at $14.32 and $14.19. November futures again bounced off $12.50 and posted a slightly higher close for the day. Chinese demand remains strong despite some weaker manufacturing data for February.

Wheat
Cash bid for March at Memphis  743 1/4 to - - -;

Bids to farmers at Local Elevators 682-692;
River Elevators 678-722;

Chicago Futures: March up  5 1/2  at  713 1/4 
  May up at  720 1/2 
  July up  5 3/4  at  722 1/4 
  Sept up  4 1/2  at  729 3/4 
  Dec up  at  742 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1248 to - - -;

Bids to farmers at River Elevators 1114-1204;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   744 to 748;
  New Crop at Memphis   554 1/4 to 567 1/4;
Bids to farmers at River Elevators  713 to 744

Chicago Futures: March up  4 1/2  at  724 
  May up  at  708 1/2 
  July up  2 1/4  at  687 
  Sept up  1 1/2  at  584 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat added to midweek gains as the market continues to retrace a portion of recent declines. July pushed above $7.25 and could move toward resistance at $7.50, if technical buying continues. Recent snow has improved the moisture outlook in the Plains and that will likely limit upside potential. Also, seen as negative is the prospects of the Ukraine re-entering the export market in the next 4 to 6 weeks.

Corn firmed in old crop contracts while closing steady to slightly lower in the new crop months. Tight supplies and a firm basis kept the front end contracts on the positive side, while the potential for a record U.S. crop in 2013 weighed on new crop. December futures continue to track sideways just above $5.50 but could easily move to $5.10 should the market slip below that support.



Cotton & Rice  Date: March 01, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 11 at  8090
  Greenwood up  11 at 8090

New York Futures: March up  12  at  8368 
  May up  11  at  8540 
 July up  11  at  8605 
 Oct down  at  8555 
 Dec down  at  8514 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was narrowly mixed to end the week. The market has shown improvement with recent good demand keeping old and new crop futures near key resistance. While the world is awash with cotton, over 50% of the stocks are in China, and they are supported at price levels well above the rest of the world. So, available stocks are considerably tighter than it would appear and this is pushing the market. In addition, smaller plantings are projected for 2013, with big cuts noted in the United States.

Rice

Long Grain Cash Bid for  March 1448/cwt  to  - - -
  NC 1477/cwt  to  - - -

Chicago Futures: March up  at  1553 
 May down  1/2  at  1577 1/2 
 July unchanged  at  1606 1/2 
 Sept unchanged  at  1556 1/2 
 Nov up  at  1560 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were steady to slightly higher as the market deals with conflicting situations. U.S. exports continue to move at a good pace, while on the other side of the world, Thailand continues an intervention program that is adding to huge stockpiles of rice. This situation, while a world away, continues to hang over the market.



Cattle & Hogs  Date: March 01, 2013

Cattle
As reported by Federal-State Market News, receipts were 3,375 head at sales in Arkansas this week.  Compared with last week, feeder steers sold steady to instances $2 to $3 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 183 to - - -
  500 to 550 lbs. 165 to - - -
  600 to 650 lbs. 147 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 170.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 144.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 149.50 to - - -

Slaughter Cows, Boners 74   to   82
Light Weight 58 to 66
Bulls, Yield Grade   1   1000   to   2100 lbs.   91   to   99
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   128   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 162 to 177
  550 to 600 lbs. 146 to 166
Heifers 500 to 550 lbs. 142 to 165
  550 to 600 lbs. 132 to 150

Chicago Futures:
Live Cattle: April up 10 at 12995
  June up 15 at 12510
Feeders: March down 45 at 14155
  April down 77 at 14415

Cattle Comment
Cattle futures were mostly lower with feeders declining following renewed strength in corn. Wholesale beef values were mixed today with choice cutouts up over $1.30, suggesting improved beef demand as consumers look ahead to grilling season.

Hogs
Peoria: were       at   47   to   49

Chicago Futures: April up 15 at 8112
  May up 10 at 8940

Hogs Comment
Hog futures were mixed today was the recent slide appears to be ending. With cash markets apparently bottoming, packers are pushing to get increased supplies lined up for the coming weeks. Hopefully this is not premature.



Poultry  Date: March 01, 2013

Eggs

New York:  Ex. Lg. 111-115; Lg. 109-115; Med. 94-98;
Chicago:  Ex. Lg. 100-108; Lg. 98-106; Med. 80-88;

National Turkeys
Hens: 8-16 lbs. 94.50
Toms: 16-24 lbs. 95.91
 

Delmarva Broilers
U.S. Grade A
Prices are firm to higher into all regions when compared to last week. Offerings are mostly light to instances moderate. Market activity is moderate to active.