Grain & Soybean Date: March 15, 2013
Soybeans
Local Elevators:
(March) EAST AR: 1409 to 1446
(NC) Summ. 1231 to 1261
River Elevators:
(March) MISS: 1453 to 1466 ; AR & White 1411
to - - -
(NC) Summ. 1235 to 1286
Ark. Processor Bids: (March) 1436 to - - -
(NC) 1251 to 1256
Memphis:
(March) 1456 to 1461 (NC)
1286 to - - -
Riceland Foods:
(March) Stuttgart 1441 ; Pendleton
1446
(NC) Stuttgart 1251 ; Pendleton
1261
| Chicago Futures: |
May |
down |
9 1/2 |
at |
1426 |
| |
July |
down |
5 1/4 |
at |
1410 3/4 |
| |
Aug |
down |
5 1/2 |
at |
1370 1/4 |
| |
Sept |
unchanged |
- - - |
at |
1301 1/2 |
| |
Nov |
up |
1 1/4 |
at |
1261 |
| |
Today's Arkansas LDP rate for soybeans is: |
0¢ |
Soybean Comment
Soybeans ending the week mixed with the greatest pressure on old crop as traders see exports shifting to South America. Satellite photos confirm large numbers of ships are cued up at South American ports. It is expected to take weeks to load out these ships and some have projected the shipping season will extend to November or perhaps later. A smaller than expected February crush also weighed on old crop. The crush was almost 5 million bushels below expectations. November futures held support again today closing slightly higher to end the week.
Wheat
Cash bid for March at Memphis 748 to 753;
| Bids to farmers at Local Elevators |
681-701; |
| River Elevators |
680-733; |
| Chicago Futures: |
May |
down |
1 3/4 |
at |
723 |
| |
July |
up |
1 1/4 |
at |
721 1/4 |
| |
Sept |
up |
2 1/4 |
at |
726 3/4 |
| |
Dec |
up |
2 1/2 |
at |
739 |
| |
March |
up |
3 |
at |
751 1/4 |
| |
Today's Arkansas LDP rate for wheat is: |
0¢ |
Grain Sorghum
Cash bid for March at Memphis 1218 to 1236;
| Bids to farmers at River Elevators |
1102-1138; |
| Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
| Cash bid for |
March at Memphis
747 to 749; |
| |
New Crop at Memphis
566 3/4 to - - -; |
| Bids to farmers at River Elevators |
706 to 752 |
| Chicago Futures: |
May |
up |
1/2 |
at |
717 |
| |
July |
up |
1 3/4 |
at |
700 1/4 |
| |
Sept |
up |
2 3/4 |
at |
586 3/4 |
| |
Dec |
up |
2 1/2 |
at |
561 3/4 |
| |
Today's Arkansas LDP rate for corn is: |
0¢ |
Grain Comment
Wheat closed narrowly mixed with July closing about a dime below resistance around $7.30. A close above that level would suggest a temporary bottom in the market. This week’s export sales were a positive feature in the market as they reached a market year high.
Corn retained a firm tone and closed the day with slight gains. December continued to hold above key support around $5.50. FAPRI forecasts a record 2013 U.S. corn crop of 14.37 billion bushels and a billion bushel increase in ending stocks. Recent firming of corn relative to soybeans should keep plantings near the 98 to 99 million acre range.
Cotton & Rice Date: March 15, 2013
Cotton
| Spot Price, Grade 41 Staple 34: |
Memphis down 164 at
89.00 |
| |
Greenwood down
164 at 89.00 |
| New York Futures: |
May |
up |
164 |
at |
9250 |
| |
July |
up |
122 |
at |
9276 |
| | Oct |
up |
1 |
at |
8943 |
| | Dec |
down |
3 |
at |
8851 |
| | March |
up |
18 |
at |
8784 |
| This week's LDP rate for cotton is |
0 cents |
| |
The estimate for next week is |
0 cents |
Cotton Comment
Cotton closed well off the day’s highs as the market moved sharply higher early in response to a strong weekly export sales report. China continues to buy cotton which is a supportive factor in the recent price increase. Old crop contract May moved near 94 cents before retracing a portion of its gains. Meanwhile December continues to have resistance around 89 cents, and ended the day slightly lower.
Rice
| Long Grain Cash Bid for |
March |
1388/cwt |
to |
- - - |
| |
NC |
1394/cwt |
to |
- - - |
| Chicago Futures: |
May |
up |
14 |
at |
1468 |
| | July |
up |
14 |
at |
1496 1/2 |
| | Sept |
up |
4 |
at |
1474 |
| | Nov |
up |
6 |
at |
1490 1/2 |
| | Jan |
up |
6 |
at |
1496 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 the front contracts finally closing higher. This at least slowed the move to the downside but didn’t signal a turn in the market. It appeared rice was likely gaining acreage versus corn and soybeans before this downturn. However that may not still be the case.
Cattle & Hogs Date: March 15, 2013
Cattle
As reported by Federal-State Market News, receipts were 8330 head
at sales in Arkansas this week.
Compared with last week, feeder steers sold very unevenly, averaging steady to $5 higher .
| Steers: |
| Medium & Large Frame 1 |
400 |
to |
450 lbs. |
179.00 |
to |
- - - |
|
| |
500 |
to |
550 lbs. |
162.00 |
to |
- - - |
|
| |
600 |
to |
650 lbs. |
152.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
170.00 |
to |
- - - |
Heifers: |
| Medium & Large Frame 1 |
500 |
to |
550 lbs. |
149.00 |
to |
- - - |
|
| Medium & Large Frame 2 |
400 |
to |
450 lbs. |
147.00 |
to |
- - - |
Slaughter Cows, Boners 74.00 to 82.00
Light Weight 62.00 to 70.00
Bulls, Yield Grade 1
1000 to 2100 lbs. 90.00
to 100.00
Midwest Steers were at 127.00
to - - -
Panhandle Steers were at 127.00
to - - -
Oklahoma City Feeders
|
| Steers |
450 |
to |
500 lbs. |
166.00 |
to |
194.00 |
| |
500 |
to |
550 lbs. |
160.00 |
to |
188.00 |
| Heifers |
450 |
to |
500 lbs. |
152.00 |
to |
165.00 |
| |
500 |
to |
550 lbs. |
147.00 |
to |
162.00 |
Chicago Futures:
| Live Cattle: |
April |
down |
227 |
at |
12577 |
| |
June |
down |
185 |
at |
12130 |
| Feeders: |
March |
down |
160 |
at |
13667 |
| |
April |
down |
245 |
at |
13910 |
Cattle Comment
Cattle futures were sharply lower on commodity fund selling. Demand concerns and technical weakness were driving forces in the downturn. April feeder cattle futures have fallen $19 since the first of the year, and today’s decline took the market out of a week-long sideways trading pattern. April love cattle are at the lowest level since May of last year. Declining cutout values were a visible factor in the softer market.
Hogs
Peoria: were steady
at 47.00 to 49.00
| Chicago Futures: |
April |
down |
120 |
at |
7967 |
| |
May |
down |
65 |
at |
8920 |
Hogs Comment
Hog futures were lower also as April retraces last week’s gains. It appears April will test support just above $78. Slightly lower hog slaughter numbers and lower weights haven’t given the market much support.
Poultry Date: March 15, 2013
Eggs
| New York: |
Ex. Lg. 137-141; Lg. 135-139; Med. 117-121; |
| Chicago: |
Ex. Lg. 112-120; Lg. 110-118; Med. 93-101; |
National Turkeys
| Hens: |
8-16 lbs |
95.50 |
| Toms: |
16-24 lbs |
95.71 |
| |
|
|
Delmarva Broilers
U.S. Grade APrices are steady to firm across the country when compared to a week ago. Offerings are light to moderate. Demand into retail and good service channels is light to instances good, fast food moderate. Floor stocks are balanced to light. Market activity is slow to active.