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Daily Market Report Archive

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 at  1408 1/2
  Sept up 1/2  at  1331 1/2
  Today's Arkansas LDP rate for soybeans is:

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:

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:

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:

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  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  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 
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 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 A
N/A