Print this page

Daily Market Report Archive

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:

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:

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:

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  at  680 1/2 
  Sept up  7 1/4  at  571 1/4 
  Today's Arkansas LDP rate for corn is:

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  at  1536 1/2 
 July down  2 1/2  at  1565 1/2 
 Sept down  at  1523 1/2 
 Nov down  at  1536 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
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 A
Prices 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.