Grain & Soybean Date: March 06, 2013
Soybeans
Local Elevators:
(March) EAST AR: 1449 to 1490
(NC) Summ. 1249 to 1279
River Elevators:
(March) MISS: 1513 to 1531 ; AR & White 1451
to 1506
(NC) Summ. 1251 to 1304
Ark. Processor Bids: (March) 1476 to 1576
(NC) 1269 to 1274
Memphis:
(March) 1504 to 1516 (NC)
1303 3/4 to - - -
Riceland Foods:
(March) Stuttgart 1476 ; Pendleton
1486
(NC) Stuttgart 1269 ; Pendleton
1279
| Chicago Futures: |
March |
down |
12 |
at |
1484 1/2 |
| |
May |
down |
1/2 |
at |
1466 |
| |
July |
up |
1 |
at |
1448 3/4 |
| |
Aug |
up |
2 |
at |
1408 1/2 |
| |
Sept |
up |
1/2 |
at |
1331 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans closed narrowly mixed with the exception of expiring March. New Crop contracts ended the day slightly higher, as the market essentially treaded water ahead of crop reports in Brazil tomorrow and the U.S. on Friday. U.S. Ag attaché reports in Brazil showed slightly lower production estimates due to dry conditions in several areas. Transportation issues also continue to be an issue in getting Brazilian soybeans shipped.
Wheat
Cash bid for March at Memphis 708 3/4 to - - -;
| Bids to farmers at Local Elevators |
649-659; |
| River Elevators |
645-689; |
| Chicago Futures: |
March |
down |
20 |
at |
676 1/4 |
| |
May |
down |
22 1/4 |
at |
683 3/4 |
| |
July |
down |
20 3/4 |
at |
688 3/4 |
| |
Sept |
down |
20 1/4 |
at |
697 1/2 |
| |
Dec |
down |
19 3/4 |
at |
711 3/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1167 to 1212;
| Bids to farmers at River Elevators |
1051-1087; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
726 1/2 to - - -; |
| |
New Crop at Memphis
537 1/4 to 547 1/4; |
| Bids to farmers at River Elevators |
678 to 724 |
| Chicago Futures: |
March |
down |
24 |
at |
708 |
| |
May |
down |
20 1/2 |
at |
688 1/2 |
| |
July |
down |
14 1/4 |
at |
671 3/4 |
| |
Sept |
down |
9 3/4 |
at |
567 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat futures plummeted today. India said this week that they may double their exports this year. Ukraine is now considering their export ban, on estimates that their wheat crop will top 53 million metric tons, setting a record. Australia’s production is expected to rise 13% this year. July is testing support near $6.85. A close below that level would open the market to a retest of support at $6.70.
Corn came under heavy selling pressure and closed sharply lower. Biggest losses were registered in old crop contracts, but new crop December closed below $5.50 and is likely headed lower with the next chart support around $5.10. Export demand for corn remains extremely weak and will likely continue a problem with the new crop.
Cotton & Rice Date: March 06, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 76 at
8324 |
| |
Greenwood up
76 at 8324 |
| New York Futures: |
March |
up |
26 |
at |
8623 |
| |
May |
up |
26 |
at |
8724 |
| | July |
up |
26 |
at |
8796 |
| | Oct |
down |
1 |
at |
8652 |
| | Dec |
up |
57 |
at |
8631 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton continued a slow crawl 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 |
1404/cwt |
to |
- - - |
| |
NC |
1463/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
3 1/2 |
at |
1509 1/2 |
| | May |
down |
3 1/2 |
at |
1534 |
| | July |
down |
4 |
at |
1563 |
| | Sept |
down |
9 1/2 |
at |
1542 1/2 |
| | Nov |
down |
9 1/2 |
at |
1550 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
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 06, 2013
Cattle
As reported by Federal-State Market News, receipts were 671 head
at sales in Conway & Pocahontas.
Compared with last week, feeder steers sold steady to $4 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
167.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
156.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
143.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
152.50 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
146.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
45 lbs. |
141.00 |
to |
- - - |
Slaughter Cows, Boners 76.00 to 83.00
Light Weight - - - to - - -
Bulls, Yield Grade 1
1000 to 2000 lbs. 90.00
to 104.00
Midwest Steers were at 128.00
to - - -
Panhandle Steers were at 128.00
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
175.00 |
to |
188.00 |
| |
500 |
to |
550 lbs. |
171.00 |
to |
184.00 |
| Heifers |
450 |
to |
500 lbs. |
156.00 |
to |
170.00 |
| |
500 |
to |
550 lbs. |
144.00 |
to |
157.00 |
Chicago Futures:
| Live Cattle: |
April |
down |
82 |
at |
12880 |
| |
June |
down |
52 |
at |
12395 |
| Feeders: |
March |
down |
82 |
at |
14092 |
| |
April |
down |
135 |
at |
14225 |
Cattle Comment
Cattle futures were lower across the board. Technical weakness and a stronger dollar were blamed for selling interest today. Nearby live cattle contracts charted a bearish key reversal after early gains in reaction to improving beef values and stronger stock markets. June fell to a new life of contract low before finding support at $122.22 and closing near the top of the day’s trading range.
Hogs
Peoria: were steady
at 48.00 to 50.00
| Chicago Futures: |
April |
steady |
- - - |
at |
7925 |
| |
May |
down |
35 |
at |
8735 |
Hogs Comment
Hog futures ended mixed. Despite weakening cutout values, cash bids were a bit higher last week. Futures are heavily oversold, which has turned traders into cautious sellers.
Poultry Date: March 06, 2013
Eggs
| New York: |
Ex. Lg. 119-123; Lg. 117-121; Med. 102-106; |
| 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 AN/A