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Daily Market Report Archive

Grain & Soybean Date: March 13, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1430 to 1467
(NC) Summ. 1233 to 1263
River Elevators:
(March) MISS: 1483 to 1487 ; AR & White 1432 to - - -
(NC) Summ. 1237 to 1288
Ark. Processor Bids: (March) 1457 to - - -  (NC) 1253 to 1258
Memphis:  (March) 1483 to 1492 (NC)  1287 1/2 to - - -
Riceland Foods:  (March) Stuttgart 1457 ; Pendleton 1567 
 (NC) Stuttgart 1253 ; Pendleton 1263 

Chicago Futures: March down 14 3/4 at  1475
  May  down  21 3/4  at  1447
  July down 20 3/4  at  1425
  Aug down 16 1/4  at  1382 3/4
  Sept down 11 3/4  at  1308
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed with double digit declines up to the November contract. A stronger dollar and technical profit taking accounted for most of the downturn. Big crops in South America remain a negative factor and while transportation problems still exist, it is just a matter of time till there in position to move in the export trade. November futures are holding above key support at $12.50, but that could give way at any time. Below that is support at $12.25, $11.77 and then $11.40.

Wheat
Cash bid for March at Memphis  735 to - - -;

Bids to farmers at Local Elevators 668-678;
River Elevators 667-708;

Chicago Futures: March up  6 3/4  at  707 1/4 
  May up 6 1/2  at  710 
  July up  4 1/2  at  708 1/4 
  Sept up  3 1/4  at  713 3/4 
  Dec up  3 1/4  at  727 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1206 to 1242;

Bids to farmers at River Elevators 1090-1125;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   743 1/4 to 744 1/4;
  New Crop at Memphis   549 1/4 to 559 1/4;
Bids to farmers at River Elevators  699 to 745

Chicago Futures: March up  1/4  at  741 1/4 
  May down  at  710 1/4 
  July down  1 1/2  at  692 1/4 
  Sept down  2 3/4  at  579 1/4 
  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 limit any rebound potential of the market. Egypt’s stocks are down to about a three month supply. The government usually likes to keep about twice that on hand, so Egypt could be buying wheat soon.

Corn was mostly lower at the close. Losses ranged as high as scents. New Crop December corn dipped below $5.50 briefly before recovering to close above that level. Demand remains poor with a stronger dollar keeping pressure on exports. Long term demand will have to be rekindled if this year’s crop approaches its anticipated potential of 14 billion bushels or more.



Cotton & Rice  Date: March 13, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 153 at  8511
  Greenwood down  153 at 8511

New York Futures: March up  128  at  8861 
  July up  139  at  8955 
 Oct up  98  at  8852 
 Dec up  55  at  8751 
 MarchDec up  50  at  8659 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was higher as the market is creeping toward resistance near 90 cents. Less than half of projected world stocks are being held outside China, which makes available stocks fairly tight. U.S. plantings are projected to be down sharply from last year with early projections ranging from 9 to 10 million acres. The stronger U.S. dollar is limiting upside potential.

Rice

Long Grain Cash Bid for  March 1368/cwt  to  - - -
  NC 1406/cwt  to  - - -

Chicago Futures: March down  45  at  1456 1/2 
 May down  45 1/2  at  1478 
 July down  45 1/2  at  1506 1/2 
 Sept down  35 1/2  at  1485 1/2 
 Nov down  34  at  1501 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were hammered with the May contract dropping well below $15. While U.S. movement continues good, and U.S. long grain stocks are projected to be fairly tight there is concern about the huge Thai intervention stocks and the lack of storage for a crop that is about to be harvested. The fear of this rice being dropped on the market coupled with a rising dollar is likely moving investor money out of rice.



Cattle & Hogs  Date: March 13, 2013

Cattle
As reported by Federal-State Market News, receipts were 1043 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly weak to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 168.00 to - - -
  500 to 550 lbs. 155.00 to - - -
  600 to 650 lbs. 147.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 152.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 142.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 140.00 to - - -

Slaughter Cows, Boners 75.00   to   83.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2000 lbs.   94.00   to   101.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 166.00 to 179.00
  500 to 550 lbs. 160.00 to 173.00
Heifers 450 to 500 lbs. 152.00 to 165.00
  500 to 550 lbs. 147.00 to 160.00

Chicago Futures:
Live Cattle: April down 15 at 12855
  June down 42 at 12345
Feeders: March up 20 at 13900
  April up 55 at 14272

Cattle Comment
Cattle futures were mixed, with live cattle lower across the board and feeders higher. A stronger dollar was the reason for the weakness, but higher product values limited losses. Shrinking cattle supplies are also a positive for prices.

Hogs
Peoria: were $1 lower to $3     higher   at   47.00   to   49.00

Chicago Futures: April down 80 at 8065
  May down 65 at 8970

Hogs Comment
Hogs were lower today on the stronger dollar. A report from China that indicates an overabundance of hogs in that country was also bearish for prices. April is building on support at the recent low of $78.27 ½.



Poultry  Date: March 13, 2013

Eggs

New York:  Ex. Lg. 132-136; Lg. 130-134; Med. 113-117;
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