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Daily Market Report Archive

Grain & Soybean Date: March 04, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1445 to 1495
(NC) Summ. 1239 to 1269
River Elevators:
(March) MISS: 1501 to 1520 ; AR & White 1458 to 1494
(NC) Summ. 1241 to 1294
Ark. Processor Bids: (March) 1472 to 1520  (NC) 1259 to 1264
Memphis:  (March) 1506 to 1517 1/4 (NC)  1294 1/4 to - - -
Riceland Foods:  (March) Stuttgart 1472 ; Pendleton 1482 
 (NC) Stuttgart 1259 ; Pendleton 1269 

Chicago Futures: March up 25 3/4 at  1490 1/4
  May  up  18 1/2  at  1462
  July up 16  at  1443 1/4
  Aug up 14 1/4  at  1402 1/4
  Sept up 9 3/4  at  1326 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans roared back from early weakness to close sharply higher. The expiring March contract stopped short of $15 but could move higher as export demand continues strong. Transportation problems have limited movement from Brazil where a big crop is being harvested. A weaker $ and stronger equity markets provided a firm backdrop for exports. This week’s supply demand reports could show some downward adjustment in Argentina’s soybean and corn production. November soybeans again bounced off support near $12.50 and ended the day above $12.70. The recent high of $13.07 will provide resistance on any further upturn.

Wheat
Cash bid for March at Memphis  727 1/2 to 732 1/2;

Bids to farmers at Local Elevators 665-675;
River Elevators 661-705;

Chicago Futures: March down  17 1/4  at  696 
  May down 18  at  702 1/2 
  July down  17 3/4  at  704 1/2 
  Sept down  17 3/4  at  712 
  Dec down  17 1/4  at  725 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1238 to - - -;

Bids to farmers at River Elevators 1077-1202;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   735 1/4 to 739 1/4;
  New Crop at Memphis   548 to 558;
Bids to farmers at River Elevators  692 to 743

Chicago Futures: March down  1 1/4  at  723 
  May down  5 1/4  at  703 1/4 
  July down  5 1/4  at  681 3/4 
  Sept down  6 1/4  at  578 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat posted sharp losses across the board. July held at support right at $7. Support below that level begins at $6.85.

Corn was lower as the market moved in sympathy with wheat which posted double digit declines. The downturn left December futures hanging to key support at $7.50. The market penetrated that support but recovered in late trading. Inability to hold here suggests a probably move to the next support at $5.11 or perhaps lower long term.



Cotton & Rice  Date: March 04, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 86 at  8176
  Greenwood down  86 at 8176

New York Futures: March up  123  at  8491 
  May up  86  at  8626 
 July up  46  at  8651 
 Oct up  28  at  8583 
 Dec up  28  at  8542 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued on a firm note despite reports that China is selling supplies from their huge reserves. The question is whether those stocks compare price wise to others. December continues to inch higher with today’s move about 85 cents. That probably isn’t high enough to pull acreage back from corn and soybeans. While planting decisions may not be set in stone, they will be soon.

Rice

Long Grain Cash Bid for  March 1428/cwt  to  - - -
  NC 1478/cwt  to  - - -

Chicago Futures: March down  19 1/2  at  1533 1/2 
 May down  19 1/2  at  1558 
 July down  19  at  1587 1/2 
 Sept up  at  1557 1/2 
 Nov down  at  1559 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures fell to a new recent low as the market appeared to be influenced by a very weak undertone in wheat. There has been little fresh fundamental news to give the market direction. And while U.S. exports continue steady there is concern about what will happened with the huge Thai intervention stocks. At this point planting intentions to be released on March 28th could show a decline in rice as producers look favorably at corn and soybeans.



Cattle & Hogs  Date: March 04, 2013

Cattle
As reported by Federal-State Market News, receipts were 1939 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 179.50 to - - -
  500 to 550 lbs. 158.00 to - - -
  600 to 650 lbs. 148.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 165.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 146.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 144.00 to - - -

Slaughter Cows, Boners 78.00   to   85.00
Light Weight 64.00 to 71.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   92.00   to   104.00
Midwest Steers   were   at   127.00   to   129.00
Panhandle Steers   were   at   126.50   to   128.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 174.00 to 179.50
  500 to 600 lbs. 163.00 to 180.00
Heifers 450 to 500 lbs. 149.00 to 161.00
  500 to 550 lbs. 150.00 to 157.00

Chicago Futures:
Live Cattle: April up 40 at 13035
  June up 45 at 12555
Feeders: March up 97 at 14252
  April up 57 at 14472

Cattle Comment
Cattle futures ended mixed. Nearby April has resistance at $130.73.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April down 82 at 8030
  May down 100 at 8840

Hogs Comment
Hog futures were lower across the board. With cash markets apparently bottoming, packers are pushing to get increased supplies lined up for the coming weeks. June has support at $90.27.



Poultry  Date: March 04, 2013

Eggs

New York:  Ex. Lg. 112-116; Lg. 110-114; Med. 95-99;
Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 81-89;

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

Delmarva Broilers
U.S. Grade A
N/A