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: |
0¢ |
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: |
0¢ |
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: |
0¢ |
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 |
4 |
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: |
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 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 |
0¢ |
| medium grain rice is |
0¢ |
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 AN/A