Print this page

Daily Market Report Archive

Grain & Soybean Date: March 05, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1450 to 1502
(NC) Summ. 1246 to 1276
River Elevators:
(March) MISS: 1508 to 1567 ; AR & White 1452 to 1501
(NC) Summ. 1248 to 1301
Ark. Processor Bids: (March) 1477 to 1527  (NC) 1266 to 1271
Memphis:  (March) 1516 1/2 to 1523 1/2 (NC)  1300 1/2 to - - -
Riceland Foods:  (March) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: March up 6 1/4 at  1496 1/2
  May  up  4 1/2  at  1466 1/2
  July up 4 1/2  at  1447 3/4
  Aug up 4 1/4  at  1406 1/2
  Nov up 4 1/4  at  1331
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans soared as the Dow moved to a pre-recession and record high. The early surge carried the expiring March above $15, but a late decline saw the settlement fall back below that level. Delays at Brazilian ports gave the export market another push as did pressure on the dollar. China’s soybean imports for January fell almost 20% to just 4.85 mmt. The good news is the U.S. provided almost 95% of that total. New Crop November futures continued to grind higher after finding support at $12.50 last week. Resistance will be somewhere between $13 and the recent high of $13.07.

Wheat
Cash bid for March at Memphis  731 to - - -;

Bids to farmers at Local Elevators 670-680;
River Elevators 666-710;

Chicago Futures: March up  1/4  at  696 1/4 
  May up 3 1/2  at  706 
  July up  at  709 1/2 
  Sept up  5 3/4  at  717 3/4 
  Dec up  6 1/4  at  731 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1204 to 1248;

Bids to farmers at River Elevators 1088-1218;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   741 to 745;
  New Crop at Memphis   547 to 557;
Bids to farmers at River Elevators  698 to 752

Chicago Futures: March up  at  732 
  May up  5 3/4  at  709 
  July up  4 1/4  at  686 
  Sept down  at  577 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted gains following corn. The weekly crop ratings improved this week, with the percentage of the crop nationwide in good to excellent increasing 2% due to better moisture conditions. July held at support right at $7 yesterday. A move below that level would suggest a retest of support near $6.85.

Corn was mostly higher with larger gains in the old crop contracts. Soon to be lead contract May is holding above $7 with support around $6.80 and resistance at $7.45. Poor demand will remain a factor as we move forward. New Crop December continues to test support at $5.50 with potential of declining to $5.11 or lower, on a close below that support. No surprises are anticipated in Friday’s supply demand report.



Cotton & Rice  Date: March 05, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 72 at  8248
  Greenwood down  72 at 8248

New York Futures: March up  106  at  8597 
  May up  72  at  8698 
 July up  119  at  8770 
 Oct up  70  at  8653 
 Dec up  32  at  8574 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton took advantage of the strength in the equities and a weaker dollar to climb slowly higher. Old crop contracts are approaching the 87 to 89 cents area that a year ago was a basing point for the market as it retraced the big gains of 2010-11. That area now becomes resistance as the market attempts to work higher.

Rice

Long Grain Cash Bid for  March - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: March down  20 1/2  at  1513 
 May down  20 1/2  at  1537 1/2 
 July down  20 1/2  at  1567 
 Sept down  5 1/2  at  1552 
 Nov down  1/2  at  1560 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures continued under pressure with May stopping short of key support at the contract low of $15.23. There is little fresh fundamental news to give the market direction. However, the market is nearing oversold levels and is due a technical correction. While U.S. exports are holding a firm tone as traders appear to be reacting to the big intervention stocks in Thailand.



Cattle & Hogs  Date: March 05, 2013

Cattle
As reported by Federal-State Market News, receipts were 751 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers under 600lbs sold weak to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 179.00 to - - -
  500 to 550 lbs. 163.00 to - - -
  600 to 650 lbs. 152.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 166.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 156.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 148.00 to - - -

Slaughter Cows, Boners 78.00   to   86.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2100 lbs.   94.00   to   105.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 500 lbs. 174.00 to 189.00
  500 to 600 lbs. 169.00 to 182.50
Heifers 450 to 500 lbs. 149.00 to 161.00
  500 to 550 lbs. 150.00 to 159.00

Chicago Futures:
Live Cattle: April down 72 at 12962
  June down 107 at 12447
Feeders: March down 77 at 14175
  April down 112 at 14360

Cattle Comment
Gains in corn futures resulted in cattle futures posting across-the-board losses. Nearby live cattle contracts charted a bearish key reversal after early gains in reaction to improving beef values and stronger stock markets. June could retest support from $123.50-$122.50.

Hogs
Peoria: were $1 lower to $3     higher   at   48.00   to   50.00

Chicago Futures: April down 105 at 7925
  May down 70 at 8770

Hogs Comment
Hog futures were also lower across the board. June’s close below $90 sets up a retest of support near $88.



Poultry  Date: March 05, 2013

Eggs

New York:  Ex. Lg. 116-120; Lg. 114-118; Med. 99-103;
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