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 |
9 |
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: |
0¢ |
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 |
2 |
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: |
0¢ |
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: |
0¢ |
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 |
3 |
at |
714 1/4 |
| |
July |
up |
3 |
at |
693 3/4 |
| |
Sept |
up |
3 1/4 |
at |
582 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
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 |
1 |
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 |
1 |
at |
1552 |
| | Sept |
up |
5 1/2 |
at |
1521 |
| | Nov |
up |
5 |
at |
1535 1/2 |
| Today's Arkansas LDP rate for long grain rice is |
0¢ |
| medium grain rice is |
0¢ |
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 AN/A