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Daily Market Report Archive

Grain & Soybean Date: March 14, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1419 to 1456
(NC) Summ. 1230 to 1260
River Elevators:
(March) MISS: 1473 to 1476 ; AR & White 1421 to - - -
(NC) Summ. 1234 to 1285
Ark. Processor Bids: (March) 1446 to - - -  (NC) 1250 to 1255
Memphis:  (March) 1471 1/2 to 1472 1/2 (NC)  1284 3/4 to - - -
Riceland Foods:  (March) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: March down 17 3/4 at  1457 1/4
  May  down  11 1/2  at  1435 1/2
  July down at  1416
  Aug down at  1375 3/4
  Sept down 6 1/2  at  1301 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were under pressure again today with the largest declines in the old crop contracts. The weaker undertone was present despite positive outside markets – a lower dollar and higher equities and crude oil. Big soybean supplies will be available from South America and are expected to cut into U.S. export sales. However, that wasn’t the case in today’s export sales report which again showed substantial sales to China and unknown destinations. November futures moved near the $12.50 support before late buying trimmed early declines.

Wheat
Cash bid for March at Memphis  749 3/4 to - - -;

Bids to farmers at Local Elevators 680-700;
River Elevators 679-732;

Chicago Futures: March up  at  714 1/4 
  May up 14 3/4  at  724 3/4 
  July up  11 3/4  at  720 
  Sept up  10 3/4  at  724 1/2 
  Dec up  9 1/4  at  736 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1217 to 1244;

Bids to farmers at River Elevators 1101-1137;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   746 1/2 to 748 1/2;
  New Crop at Memphis   554 to 564;
Bids to farmers at River Elevators  706 to 752

Chicago Futures: March down  8 1/2  at  732 3/4 
  May up  6 1/4  at  716 1/2 
  July up  6 1/4  at  698 1/2 
  Sept up  4 3/4  at  584 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat got a boost today from the weekly export sales report. USDA says 888,500 metric tons of wheat was sold to foreign buyers last week. Egypt was the top buyer. July is trying to build on support at last week’s low of $6.86, which is a potential double bottom.

Corn was higher based on the largest total export sales in almost 4 months. New Crop sales were the largest of the year. The soybean/corn price ratio has moved back toward corn at 2.25. Recent projections suggest U.S. plantings will approach 99 million acres in 2013.



Cotton & Rice  Date: March 14, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 225 at  8736
  Greenwood down  225 at 8736

New York Futures: May up  225  at  9086 
  July up  199  at  9154 
 Oct up  90  at  8942 
 Dec up  103  at  8854 
 March up  107  at  8766 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton accelerated recent gains with May futures headed toward year old resistance at 93 to 94 cents. December has resistance at 91 to 92 cents and that was posted just over a year ago. Tightening of stocks in the rest of the world other than China is drawing strong interest, as is the potential movement from cotton to corn or soybeans in the mid-south and southeast production areas.

Rice

Long Grain Cash Bid for  March - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: March down  15  at  1441 1/2 
 May down  24  at  1454 
 July down  24  at  1482 1/2 
 Sept down  15 1/2  at  1470 
 Nov down  17  at  1484 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice continued to slide over the cliff with technical selling contributing to 2 days declines of nearly 70 cents. Again this comes with good U.S. export movement. The potential impact of huge Thai intervention stocks, and a strong equities market appears to be pulling investment funds away from rice.



Cattle & Hogs  Date: March 14, 2013

Cattle
As reported by Federal-State Market News, receipts were 1832 head at sales in Charlotte, Green Forest & Ratcliff.  Compared with last week, feeder steers under 600 lbs sold $1 to $5 lower, over 600 lbs steady to $3 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 178.50 to - - -
  500 to 550 lbs. 165.00 to - - -
  600 to 650 lbs. 151.25 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 153.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 145.75 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 144.00 to - - -

Slaughter Cows, Boners 74.00   to   81.00
Light Weight 63.00 to 70.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   90.00   to   99.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 175.00 to 188.00
  500 to 600 lbs. 152.00 to 167.00
Heifers 450 to 500 lbs. 156.00 to 157.00
  500 to 600 lbs. 148.50 to 162.00

Chicago Futures:
Live Cattle: April down 50 at 12805
  June down 30 at 12315
Feeders: March down 72 at 13827
  April down 117 at 14155

Cattle Comment
Cattle futures lost ground across the board today. Concerns that high prices will limit beef demand continue to plague the market. April futures look technically weak, and could retest support at the recent low of $127.02 ½.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April up 22 at 8087
  May up 10 at 8980

Hogs Comment
Hogs were mixed. Demand concerns are still a factor for the market. April is building on support at the recent low of $78.27 ½.



Poultry  Date: March 14, 2013

Eggs

New York:  Ex. Lg. 135-139; Lg. 133-137; Med. 115-119;
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