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 |
9 |
at |
1416 |
| |
Aug |
down |
7 |
at |
1375 3/4 |
| |
Sept |
down |
6 1/2 |
at |
1301 1/2 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
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 |
7 |
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: |
0¢ |
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: |
0¢ |
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: |
0¢ |
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 |
0¢ |
| medium grain rice is |
0¢ |
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 AN/A