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Daily Market Report Archive

Grain & Soybean Date: March 18, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1393 to 1430
(NC) Summ. 1229 to 1259
River Elevators:
(March) MISS: 1437 to 1450 ; AR & White 1395 to - - -
(NC) Summ. 1230 to 1284
Ark. Processor Bids: (March) 1420 to - - -  (NC) 1249 to 1254
Memphis:  (March) 1436 1/2 to 1439 1/2 (NC)  1283 1/2 to - - -
Riceland Foods:  (March) Stuttgart 1425 ; Pendleton 1430 
 (NC) Stuttgart 1249 ; Pendleton 1259 

Chicago Futures: May down 16 1/2 at  1409 1/2
  July  down  16 1/4  at  1394 1/2
  Aug down 13 1/2  at  1356 3/4
  Sept down 5 3/4  at  1295 3/4
  Nov down 2 1/2  at  1258 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were pushed sharply lower in the overnight trade as European financial crisis firms U.S. dollar. The Cypress governments move to take bank deposits sent the European financial market into a spiral that pushed soybeans sharply lower. A move by the European Central Bank helped stabilize the situation which allowed some retracement of soybean declines. The old crop contracts held double digit declines at the close, while several new crop contracts were just 2 to 3 cents lower. November again held recent support just below $12.50 and recouped a portion of the day’s losses to close at $12.58.

Wheat
Cash bid for March at Memphis  737 3/4 to 742 3/4;

Bids to farmers at Local Elevators 693-673;
River Elevators 682-722;

Chicago Futures: May down  10 1/4  at  712 3/4 
  July down 8 1/4  at  713 
  Sept down  at  719 3/4 
  Dec down  6 1/4  at  732 3/4 
  March down  5 1/2  at  745 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1223  to 1241;

Bids to farmers at River Elevators 1107-1143;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   749 to 750;
  New Crop at Memphis   558 1/4 to 568 1/2;
Bids to farmers at River Elevators  709 to 755

Chicago Futures: May up  at  720 
  July up  at  703 1/4 
  Sept up  1 1/2  at  562 
  Dec unchanged  - - -  at  571 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat also retraced a portion of early gains to close lower but well above the day’s lows. A good export inspections report helped limit downside pressure, as did indications Egypt will need to import substantial quantities of wheat prior to their harvest to supplement dwindling sticks. Saudi Arabia is expected to import soft red wheat for the first time, and the U.S. could be in the mix as price levels are lower than some of the European competition.

Corn reversed declines to close with mostly modest gains. December futures were steady at the end of the session as the market stabilized to close above support at $5.50. Reopening of a Valero ethanol plant in Bloomingburg, Ohio was a positive factor in today’s trade. Another is scheduled to open in early April.



Cotton & Rice  Date: March 18, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 167 at  8733
  Greenwood down  167 at 8733

New York Futures: May down  167  at  9083 
  July down  138  at  9138 
 Oct down  34  at  8909 
 Dec down  12  at  8839 
 March down  14  at  8770 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton took an early beating as a result of the Cypress bank situation, but like other commodities tempered declines by the end of the session. Distant contracts, including December were generally down less than 50 points. The market remains in an uptrend with December continuing to have major resistance around 89 cents.

Rice

Long Grain Cash Bid for  March 1374/cwt  to  - - -
  NC 1382/cwt  to  - - -

Chicago Futures: May down  14  at  1454 
 July down  14  at  1482 1/2 
 Sept down  12  at  1462 
 Nov down  11  at  1479 1/2 
 Jan down  11  at  1485 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was off 11 to 14 cents with May back in position to test last week’s support at $14.50. The stronger dollar and big Thai supplies continue to hang over the market.



Cattle & Hogs  Date: March 18, 2013

Cattle
As reported by Federal-State Market News, receipts were 3128 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold $3 to $10 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 173.50 to - - -
  500 to 550 lbs. 161.50 to - - -
  600 to 650 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 162.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 143.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 139.00 to - - -

Slaughter Cows, Boners 78.00   to   85.00
Light Weight 67.00 to 75.50
Bulls, Yield Grade   1   1000   to   2100 lbs.   91.00   to   100.00
Midwest Steers   were   at   125.00   to   127.00
Panhandle Steers   were   at   127.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 189.00 to 199.00
  500 to 550 lbs. 182.50 to 187.00
Heifers 450 to 500 lbs. 162.00 to 171.50
  500 to 550 lbs. 146.00 to 159.00

Chicago Futures:
Live Cattle: April up 27 at 12605
  June up 7 at 12137
Feeders: March up 2 at 13670
  April up 30 at 13940

Cattle Comment
Cattle futures were mostly higher as the market attempted to recoup a portion of last week’s decline. Feeder futures were mixed and the market has given no definite sign that the strong downtrend has ended. The next chart support for May futures is another $4 to $6 lower.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April down 27 at 7940
  May down 40 at 8880

Hogs Comment
Hog futures were lower, but closed well off the days lows. Weak demand and competition from poultry and declining beef values are factors in the currently downtrend. Look for the market to trade up and down this week ahead of Friday’s Hogs and Pigs report.



Poultry  Date: March 18, 2013

Eggs

New York:  Ex. Lg. 139-143; Lg. 137-141; Med. 118-122;
Chicago:  Ex. Lg. 124-132; Lg. 122-130; Med. 102-110;

National Turkeys
Hens: 8-16 lbs 95.50
Toms: 16-24 lbs 95.71
 

Delmarva Broilers
U.S. Grade A
N/A