Grain & Soybean Date: March 08, 2013
Soybeans
Local Elevators:
(March) EAST AR: 1454 to 1491
(NC) Summ. 1238 to 1268
River Elevators:
(March) MISS: 1510 to 1542 ; AR & White 1456
to 1517
(NC) Summ. 1240 to 1293
Ark. Processor Bids: (March) 1481 to - - -
(NC) 1258 to 1263
Memphis:
(March) 1516 to - - - (NC)
1293 1/2 to - - -
Riceland Foods:
(March) Stuttgart 1481 ; Pendleton
1491
(NC) Stuttgart 1259 ; Pendleton
1269
| Chicago Futures: |
March |
up |
5 |
at |
1508 1/2 |
| |
May |
down |
2 1/2 |
at |
1471 |
| |
July |
down |
6 1/2 |
at |
1447 1/4 |
| |
Aug |
down |
10 1/2 |
at |
1404 |
| |
Sept |
down |
11 3/4 |
at |
1322 1/4 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were mostly weaker following today’s report. It was more a case of what USDA didn’t do than what they did. There were no changes in U.S. numbers, and the bearish implication came from no adjustments in the Brazilian crop. Brazil cut its official estimate yesterday, as did the U.S. Ag attaché. USDA did cut the Argentina estimate, but not as much as expected, while actually raising slightly, projected world ending stocks. Ever contract except expiring March ended the session lower.
Wheat
Cash bid for March at Memphis 722 to - - -;
| Bids to farmers at Local Elevators |
658-668; |
| River Elevators |
654-699; |
| Chicago Futures: |
March |
up |
3 1/4 |
at |
690 |
| |
May |
up |
1 1/2 |
at |
697 |
| |
July |
down |
1/4 |
at |
698 3/4 |
| |
Sept |
down |
1 1/4 |
at |
705 1/4 |
| |
Dec |
down |
2 1/4 |
at |
718 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1194 to 1238;
| Bids to farmers at River Elevators |
1077-1113; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
737 1/2 to 741 1/2; |
| |
New Crop at Memphis
541 1/4 to 551 1/4; |
| Bids to farmers at River Elevators |
692 to 738 |
| Chicago Futures: |
March |
up |
13 3/4 |
at |
725 1/4 |
| |
May |
up |
12 1/4 |
at |
703 1/2 |
| |
July |
up |
8 |
at |
680 1/2 |
| |
Sept |
up |
7 1/4 |
at |
571 1/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended mixed. The supply/demand report was bearish, but not unexpectedly so. U.S. carryout was raised to 716 million bushels because of weak exports, but that was very near the average trade guess of 713 million. July has support starting at the week’s low of $6.86.
Corn was on the offensive closing with across the board gains, old crop up double digits. USDA made a couple of changes which essential were offsetting, feed use was raised 100 million bushels, that was offset by a 25 million bushel increase in imports and a 75 million bushel cut in exports. Ending stocks were unchanged at 632 million bushels. At some point USDA will have to address decreased ethanol use but left it unchanged at 4.5 billion bushels. December made it back near the $5.50 mark closing just below that level. The market has a definite “leaving” toward the downside.
Cotton & Rice Date: March 08, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis up 38 at
8313 |
| |
Greenwood up
38 at 8313 |
| New York Futures: |
May |
up |
38 |
at |
6866 |
| |
July |
up |
49 |
at |
8757 |
| | Oct |
up |
56 |
at |
8657 |
| | Dec |
up |
41 |
at |
8639 |
| | March |
up |
30 |
at |
8608 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed higher after retracing yesterday’s declines. However gains of over 200 points were erased by the end of the session. USDA raised U.S. exports 250,000 bales, which coupled with an adjustment in the “unaccounted for” category reduced ending stocks by 300,000 bales. On the flip side world stocks moved slightly higher while China’s projected stocks rose 1.5 million bales to 44.1 million bales. Chinas production and imports were both raised 1 million bales and use 500,000 bales. Charts still show substantial resistance around 89 cents.
Rice
| Long Grain Cash Bid for |
March |
1427/cwt |
to |
- - - |
| |
NC |
1444/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
3 1/2 |
at |
1512 1/2 |
| | May |
down |
3 |
at |
1536 1/2 |
| | July |
down |
2 1/2 |
at |
1565 1/2 |
| | Sept |
down |
7 |
at |
1523 1/2 |
| | Nov |
down |
6 |
at |
1536 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice closed lower despite better U.S. numbers. Long grain exports were raised 1 million partially offset by 500,000 cwt. of imports. The net change in projected ending stocks was a decline of 1.5 million cwt. leaving long grain at 16.4 million cwt and all rice at 29.1 million cwt. The only change in world numbers was increase of 2 mmt in India’s production, raising it to 101 mmt. Recent price changes leave rice very competitive with corn and beans for 2013.
Cattle & Hogs Date: March 08, 2013
Cattle
As reported by Federal-State Market News, receipts were 807 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold very unevenly, averaging near steady .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
188.50 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
164.50 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
148.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
164.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
150.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
148.00 |
to |
- - - |
Slaughter Cows, Boners 75.00 to 83.00
Light Weight 63.00 to 70.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 89.00
to 105.50
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
173.00 |
to |
186.50 |
| |
500 |
to |
550 lbs. |
166.50 |
to |
170.00 |
| Heifers |
450 |
to |
500 lbs. |
152.00 |
to |
165.00 |
| |
500 |
to |
550 lbs. |
149.75 |
to |
158.00 |
Chicago Futures:
| Live Cattle: |
April |
down |
75 |
at |
12755 |
| |
June |
down |
107 |
at |
12337 |
| Feeders: |
March |
down |
150 |
at |
13897 |
| |
April |
down |
127 |
at |
14135 |
Cattle Comment
Cattle were lower across the board. The market continues to be concerned about demand. Shrinking cattle supplies could limit the downside.
Hogs
Peoria: were $3 lower to $1 higher
at 47.00 to 49.00
| Chicago Futures: |
April |
up |
22 |
at |
8202 |
| |
May |
up |
22 |
at |
9012 |
Hogs Comment
Hogs were mostly higher again today and look likely they are confirming a bottom. The market was technically oversold and due a rebound. Stronger cash bids were also supportive.
Poultry Date: March 08, 2013
Eggs
| New York: |
Ex. Lg. 125-129; Lg. 123-127; Med. 108-112; |
| Chicago: |
Ex. Lg. 101-109; Lg. 99-107; Med. 81-89; |
National Turkeys
| Hens: |
8-16 lbs |
96.31 |
| Toms: |
16-24 lbs |
98.14 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices are steady to firm in the Western region and firm to higher in the Eastern and Central regions when compared to a week ago. Offering are light to instances moderate. Demand into retail and food service channels is light to instances good, fast food moderate. Floor stocks are mixed ranging light to heavy. Market activity is moderate to active.