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Daily Market Report Archive

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:

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  at  751 1/4 
  Today's Arkansas LDP rate for wheat is:

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:

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:

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  at  8943 
 Dec down  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  at  1474 
 Nov up  at  1490 1/2 
 Jan up  at  1496 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
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 A
Prices 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.