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Daily Market Report Archive

Grain & Soybean Date: March 12, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1452 to 1489
(NC) Summ. 1240 to 1270
River Elevators:
(March) MISS: 1509 to 1514 ; AR & White 1454 to - - -
(NC) Summ. 1244 to 1295
Ark. Processor Bids: (March) 1479 to - - -  (NC) 1260 to 1265
Memphis:  (March) 1504 3/4 to 1515 3/4 (NC)  1294 1/2 to - - -
Riceland Foods:  (March) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: March down 25 at  1489 3/4
  May  down  10 3/4  at  1468 3/4
  July down at  1445 3/4
  Aug down 8 1/4  at  1399
  Sept down 2 3/4  at  1319 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were lower, with nearby contracts leading the way. Disappointing export shipments last week have traders cautious ahead of Thursday’s weekly export sales report. Possible cancellations and/or business moving to South America could limit the upside for the time being. The March 28 planting intentions report could show record acreage and open the market to increased downward pressure.

Wheat
Cash bid for March at Memphis  728 1/2 to - - -;

Bids to farmers at Local Elevators 664-674;
River Elevators 663-704;

Chicago Futures: March up  6 1/2  at  700 1/2 
  May up 3 1/2  at  703 1/2 
  July up  at  703 3/4 
  Sept up  2 1/4  at  710 1/2 
  Dec up  2 1/2  at  724 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1213 to 1249;

Bids to farmers at River Elevators 1097-1133;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   748 1/4 to 752 1/4;
  New Crop at Memphis   552 to 562;
Bids to farmers at River Elevators  703 to 749

Chicago Futures: March up  6 1/2  at  741 
  May up  at  714 1/4 
  July up  at  693 3/4 
  Sept up  3 1/4  at  582 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat continued to chop higher. July is trying to build on support at last week’s low of $6.86, which is a potential double bottom. Rains have improved the condition of the winter wheat crop, which could will likely limit any rebound potential of the market.

Corn maintained the firm undertone that developed following Friday’s report with May futures closing above resistance at $7.10 and creating the possibility of 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 12, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 61 at  8358
  Greenwood up  61 at 8358

New York Futures: May up  61  at  8733 
  July up  67  at  8816 
 Oct up  60  at  8754 
 Dec up  28  at  8696 
 March down  at  8609 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was mixed. 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 - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: March up  1 1/2  at  1501 1/2 
 May down  1/2  at  1523 1/2 
 July down  at  1552 
 Sept up  5 1/2  at  1521 
 Nov up  at  1535 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were mixed, with new crop contracts a bit higher. 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 12, 2013

Cattle
As reported by Federal-State Market News, receipts were 987 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold firm to $10 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 185.50 to - - -
  500 to 550 lbs. 170.50 to - - -
  600 to 650 lbs. 156.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 164.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 156.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 148.50 to - - -

Slaughter Cows, Boners 78.00   to   85.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2100 lbs.   95.00   to   107.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 174.00 to 186.00
  500 to 550 lbs. 171.00 to 179.00
Heifers 450 to 500 lbs. 153.00 to 165.00
  500 to 550 lbs. 152.00 to 155.00

Chicago Futures:
Live Cattle: April up 57 at 12870
  June up 45 at 12387
Feeders: March up 60 at 13880
  April up 82 at 14220

Cattle Comment
Cattle posted across the board gains. Shrinking cattle supplies are a positive for live contracts, and increasing boxed-beef values suggest that demand is improving, at least in the short-term.

Hogs
Peoria: were steady to $4     lower   at   46.00   to   48.00

Chicago Futures: April up 30 at 8145
  May up 85 at 9035

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 12, 2013

Eggs

New York:  Ex. Lg. 129-133; Lg. 127-131; Med. 112-116;
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 A
N/A