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Daily Market Report Archive

Grain & Soybean Date: March 19, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1390 to 1427
(NC) Summ. 1226 to 1256
River Elevators:
(March) MISS: 1433 to 1447 ; AR & White 1392 to - - -
(NC) Summ. 1229 to 1281
Ark. Processor Bids: (March) 1417 to - - -  (NC) 1246 to 1251
Memphis:  (March) 1433 3/4 to 1436 3/4 (NC)  1280 1/2 to - - -
Riceland Foods:  (March) Stuttgart 1422 ; Pendleton 1427 
 (NC) Stuttgart 1246 ; Pendleton 1256 

Chicago Futures: May down 1 1/2 at  1408
  July  down  at  1389 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 continued a downward spiral as negative outside markets pressured the trade. It is apparent that South American beans have begun to move in export trade. Whether they will meet the pace of demand from China is still a question. If that doesn’t happen there could be one more push for U.S. exports. November futures have stayed in a very tight 30 cents trading range for the last 3 weeks with $12.50 continuing as a major support point.

Wheat
Cash bid for March at Memphis  752 to - - -;

Bids to farmers at Local Elevators 681-701;
River Elevators 695-730;

Chicago Futures: May up  9 1/4  at  722 
  July up 7 3/4  at  720 3/4 
  Sept up  5 3/4  at  726 1/2 
  Dec up  5 3/4  at  738 1/2 
  March up  5 1/2  at  751 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1238 to 1256;

Bids to farmers at River Elevators 1122-1158;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   757 1/2 to 758 1/2;
  New Crop at Memphis   570 1/4 to - - -;
Bids to farmers at River Elevators  718 to 764

Chicago Futures: May up  8 1/2  at  728 1/2 
  July up  8 3/4  at  712 
  Sept up  at  590 1/4 
  Dec up  1/4  at  562 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat firmed again today, but July needs to close above $2.26 to suggest a near term bottom has been made. A smaller Russian crop projection was a market positive which offset Egypts announcement that bread will be rationed, beginning in two months. If that happens wheat import purchases will be limited.

Corn traded higher as the market reversed early losses. Nearby contracts continued to lead the rebound with May and July posting gains of over 8 cents. December needs to close above $5.68 to suggest the possibility of another short term rally. Planting prospects will continue to cap upside movement. The soybean/corn price ratio is now 2.23.



Cotton & Rice  Date: March 19, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 30 at  8763
  Greenwood up  30 at 8763

New York Futures: May up  25  at  9108 
  July up  15  at  8153 
 Oct up  at  8915 
 Dec down  13  at  8826 
 March down  38  at  8732 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton closed mixed with European financial concerns again pushing outside markets to the negative side. Equities were lower, while the dollar continues to rise, thus pressuring exports. For now, December futures have been unable to penetrate resistance near 89 cents. Old crop’s move to 94 cents has been turned lower as well.

Rice

Long Grain Cash Bid for  March 1392/cwt  to  - - -
  NC 1396/cwt  to  - - -

Chicago Futures: May up  18  at  1472 
 July up  18  at  1500 1/2 
 Sept up  14  at  1476 
 Nov up  13  at  1492 1/2 
 Jan up  13  at  1498 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures moved to the positive side and closed with good gains after once again bouncing off recent support. There is little fresh fundamental news to give the market direction. Planting is well underway in Louisiana. Producers will be making final acreage decisions in the next few weeks. September futures are down a dollar or more the last two weeks, while new crop corn and beans have been steady to higher.



Cattle & Hogs  Date: March 19, 2013

Cattle
As reported by Federal-State Market News, receipts were 966 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold mostly $2 to $10 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 181.25 to - - -
  500 to 550 lbs. 158.50 to - - -
  600 to 650 lbs. 154.25 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 167.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 143.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 143.50 to - - -

Slaughter Cows, Boners 77.00   to   85.00
Light Weight 65.0 to 69.50
Bulls, Yield Grade   1   1000   to   2100 lbs.   88.50   to   96.5
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 169.00 to 177.00
  500 to 550 lbs. 164.00 to 177.00
Heifers 450 to 500 lbs. 149.00 to 156.00
  500 to 550 lbs. 145.00 to 157.75

Chicago Futures:
Live Cattle: April down 75 at 12530
  June down 40 at 12097
Feeders: March down 70 at 13600
  April down 102 at 13837

Cattle Comment
Live cattle futures dipped to new recent lows and appear ready to break trendline support which would suggest additional declines. May feeders closed just above $140 and have dropped almost $20 from their January high. The markets are technically oversold and due an upward retracement, but there has been no indication the market is near a bottom.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April down 117 at 7822
  May down 130 at 8800

Hogs Comment
Hog futures are pushing back toward recent support two weeks ago. Poor demand remains a major factor in the market and that may not change until retail outlets cut prices as well. The question is whether pork is moving to storage instead of into retail trade.



Poultry  Date: March 19, 2013

Eggs

New York:  Ex. Lg. 142-146; Lg. 140-144; Med. 120-124;
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