Grain & Soybean Date: March 11, 2013
Soybeans
Local Elevators:
(March) EAST AR: 1463 to 1500
(NC) Summ. 1240 to 1270
River Elevators:
(March) MISS: 1520 to 1525 ; AR & White 1465
to - - -
(NC) Summ. 1245 to 1295
Ark. Processor Bids: (March) 1490 to - - -
(NC) 1260 to 1265
Memphis:
(March) 1524 1/2 to 1529 1/2 (NC)
1295 to - - -
Riceland Foods:
(March) Stuttgart 1490 ; Pendleton
1500
(NC) Stuttgart 1260 ; Pendleton
1270
| Chicago Futures: |
March |
up |
6 1/4 |
at |
1514 3/4 |
| |
May |
up |
8 1/2 |
at |
1479 1/2 |
| |
July |
up |
7 1/2 |
at |
1454 3/4 |
| |
Aug |
up |
3 1/4 |
at |
1407 1/4 |
| |
Sept |
up |
1/4 |
at |
1322 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans were steady to slightly higher throughout today’s session. Tight farmer holding added strength to the nearby contracts, while firmer corn values stimulated gains across the board. The soybean/corn price ratio stands at 2.3 and has moved toward soybeans until late last week. Shorter than expected export inspections limited upside movement as some traders look for a possible sales cancellation. The market was supported by continued slow movement of Brazilian beans and renewed strength in Malaysian palm oil.
Wheat
Cash bid for March at Memphis 725 to - - -;
| Bids to farmers at Local Elevators |
662-672; |
| River Elevators |
658-702; |
| Chicago Futures: |
March |
up |
4 |
at |
694 |
| |
May |
up |
3 |
at |
700 |
| |
July |
up |
3 |
at |
701 3/4 |
| |
Sept |
up |
3 |
at |
708 1/4 |
| |
Dec |
up |
3 1/4 |
at |
721 1/2 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1208 to 1243;
| Bids to farmers at River Elevators |
1092-1127; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
745 1/4 to 749 1/4; |
| |
New Crop at Memphis
548 3/4 to 558 3/4; |
| Bids to farmers at River Elevators |
700 to 746 |
| Chicago Futures: |
March |
up |
9 1/4 |
at |
734 1/2 |
| |
May |
up |
7 3/4 |
at |
711 1/4 |
| |
July |
up |
10 1/4 |
at |
690 3/4 |
| |
Sept |
up |
7 1/2 |
at |
578 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat ended higher. Weekly export inspections of 27.8 million bushels were supportive. July is trying to build on support at last week’s low of $6.86, which is a potential double bottom.
Corn maintained the firm undertone that developed following Friday’s report with May futures testing recent resistance just above $7.10. A close above this level would open the market for a run at $7.47 which was February 1 high. Prospects of a big 2013 planting will limit upside potential for December which has climbed back above $5.50. December has substantial resistance around $5.70. Any further movement toward that level should be viewed as a pricing opportunity.
Cotton & Rice Date: March 11, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 16 at
8297 |
| |
Greenwood down
16 at 8297 |
| New York Futures: |
May |
down |
16 |
at |
8672 |
| |
July |
down |
8 |
at |
8749 |
| | Oct |
up |
37 |
at |
8694 |
| | Dec |
up |
29 |
at |
8668 |
| | March '14 |
up |
2 |
at |
8610 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton was steady to slightly firmer as this market continues to react to the stocks situation. While world stocks are huge, projected to be almost 82 million bales, over 44 million bales will be held in China. That leaves less than 38 million bales available to the rest of the world. Unless, or until, China releases stocks, the market can work higher. There is a lot of chart resistance around 88 to 89 cents.
Rice
| Long Grain Cash Bid for |
March |
1414/cwt |
to |
- - - |
| |
NC |
1436/cwt |
to |
- - - |
| Chicago Futures: |
March |
down |
12 1/2 |
at |
1500 |
| | May |
down |
12 1/2 |
at |
1524 |
| | July |
down |
12 1/2 |
at |
1553 |
| | Sept |
down |
8 |
at |
1515 1/2 |
| | Nov |
down |
5 1/2 |
at |
1530 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
Rice Comment
Rice futures declined again with May dropping to the recent contract low of $15.23. Last week’s report, which featured generally positive news, has not evoked positive price movement. While U.S. export movement continues good, big Thai stocks are a long term cloud over the market. Questions about when and how Thailand will deal with the problem remain a factor in the market.
Cattle & Hogs Date: March 11, 2013
Cattle
As reported by Federal-State Market News, receipts were 2,444 head
at sales in Ash Flat, Springdale and Ola.
Compared with last week, feeder steers sold unevenly, mostly firm to $3 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
190 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
164 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
154.50 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
172 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
142 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
151 |
to |
- - - |
Slaughter Cows, Boners 78 to 85
Light Weight 67 to 74
Bulls, Yield Grade 1
1000 to 2100 lbs. 92
to 99
Midwest Steers were at - - -
to - - -
Panhandle Steers were at - - -
to - - -
Oklahoma City Feeders
|
| Steers |
500 |
to |
550 lbs. |
174 |
to |
- - - |
| |
550 |
to |
600 lbs. |
162.50 |
to |
- - - |
| Heifers |
500 |
to |
550 lbs. |
153.50 |
to |
- - - |
| |
550 |
to |
600 lbs. |
141 |
to |
146 |
Chicago Futures:
| Live Cattle: |
April |
up |
57 |
at |
12812 |
| |
June |
up |
5 |
at |
12342 |
| Feeders: |
March |
down |
77 |
at |
13820 |
| |
April |
up |
2 |
at |
14137 |
Cattle Comment
Cattle were mixed, with live contracts higher. Feeders were mostly lower on gains in corn. Shrinking cattle supplies are a positive for live contracts, but demand concerns could keep a lid on prices.
Hogs
Peoria: were $1 to $5 lower
at 44 to 46
| Chicago Futures: |
April |
down |
87 |
at |
8115 |
| |
May |
down |
62 |
at |
8950 |
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. April is building on support at the recent low of $78.27 ½.
Poultry Date: March 11, 2013
Eggs
| New York: |
Ex. Lg. 126-130; Lg. 124-128; Med. 109-113; |
| Chicago: |
Ex. Lg. 112-120; Lg. 110-118; Med. 93-101; |
National Turkeys
| Hens: |
8-16 lbs. |
96.31 |
| Toms: |
16-24 lbs. |
98.14 |
| |
|
|
Delmarva Broilers
U.S. Grade An/a