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Daily Market Report Archive

Grain & Soybean Date: March 20, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1403 to 1440
(NC) Summ. 1231 to 1261
River Elevators:
(March) MISS: 1448 to 1455 ; AR & White 1405 to - - -
(NC) Summ. 1234 to 1286
Ark. Processor Bids: (March) 1430 to - - -  (NC) 1251 to 1256
Memphis:  (March) 1446 3/4 to 1449 3/4 (NC)  1286 to - - -
Riceland Foods:  (March) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: May up 13 at  1419 3/4
  July  up  11 1/4  at  1399 1/4
  Aug up at  1359
  Sept up at  1294 3/4
  Nov up 5 1/2  at  1261
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans moved higher today as the market tended to disregard recent sales cancellations by China. Most traders thought it was a tactical move to attempt and push price lower. U.S. exports are expected to dry up as South American beans become available. Harvest is moving at a good pace but logistical problems persist. For that reason U.S. markets will remain viable. New Crop November inched higher and is holding above $12.50.

Wheat
Cash bid for March at Memphis  766 to - - -;

Bids to farmers at Local Elevators 694-714;
River Elevators 708-744;

Chicago Futures: May up  14  at  736 
  July up 13 1/4  at  734 
  Sept up  12 3/4  at  739 1/4 
  Dec up  11 3/4  at  750 1/4 
  March up  11 1/4  at  762 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1246 to 1263;

Bids to farmers at River Elevators 1129-1165;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   757 1/2 to 761 1/2;
  New Crop at Memphis   575 to - - -;
Bids to farmers at River Elevators  722 to 768

Chicago Futures: May up  at  732 1/2 
  July up  5 1/4  at  717 1/4 
  Sept up  4 3/4  at  595 
  Dec up  4 3/4  at  567 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat made strong gains with July popping up another 4 or 5 cents after topping resistance around $7.28. Technically, the market appears to be in position to move toward the 38% retracement objective at $7.68. However, there resistance between $7.50 and $7.55 still remains. Strong domestic feeding of wheat and improved export demand are helping the current rebound.

Corn remained in a firm uptrend with solid across the board gains. December futures continue to creep higher moving to within a penny of recent resistance at $5.68 to $5.70. A close above this level would suggest a possible move toward resistance around $5.95. However, that is just an outside possibility would likely need to see planting intentions fall toward the low end of expectations.



Cotton & Rice  Date: March 20, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis  - - - at  - - -
  Greenwood   - - - at - - -

New York Futures: May down  203  at  8910 
  July down  158  at  8995 
 Oct down  87  at  8828 
 Dec down  28  at  8798 
 March down  10  at  8752 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton futures were nipped in the bud with old crop taking the biggest hit. Indications China and India will be releasing stocks took the bloom off the market. Distant contracts, including December, were just slightly lower, but it appears recent resistance at 89 cents is solid.

Rice

Long Grain Cash Bid for  March - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: May down  6 1/2  at  1465 1/2 
 July down  6 1/2  at  1494 
 Sept up  1 1/2  at  1477 1/2 
 Nov up  1 1/2  at  1494 
 Jan up  1 1/2  at  1500 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were narrowly mixed with old crop down just over 6 cents. U.S. markets remain firm with solid export demand for both milled and rough rice. The overall concerns for the futures trade is the huge stockpile of intervention stocks in Thailand and the potential threat of it overhanging the world market.



Cattle & Hogs  Date: March 20, 2013

Cattle
As reported by Federal-State Market News, receipts were 513 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly $5 to $10 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 158.75 to - - -
  500 to 550 lbs. 153.00 to - - -
  600 to 650 lbs. 140.75 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 146.25 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.75 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 135.00 to - - -

Slaughter Cows, Boners 75.00   to   83.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2000 lbs.   90.00   to   99.50
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 up 75 at 12605
  June up 92 at 12190
Feeders: March down 90 at 13510
  April down 72 at 13765

Cattle Comment
Cattle futures were mixed with feeders continuing to trend lower. Legislation sponsored buy Senator Pryor would shift sequester budget cuts within USDA to reduce the impact on meat inspectors. Today’s rebound in live cattle could mark the beginning of bottoming actions in the market.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April down 35 at 7787
  May down 47 at 8752

Hogs Comment
Hogs were mostly lower again today with ample supplies and weak demand overriding any positive impact from a lower dollar and stronger equity markets. Packers are actively bidding for supplies for next week, when the Good Friday holiday will reduce plant time.



Poultry  Date: March 20, 2013

Eggs

New York:  Ex. Lg. 145-149; Lg. 143-147; 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