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Daily Market Report Archive

Grain & Soybean Date: March 21, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1432 to 1469
(NC) Summ. 1245 to 1275
River Elevators:
(March) MISS: 1479 to 1484 ; AR & White 1434 to - - -
(NC) Summ. 1245 to 1300
Ark. Processor Bids: (March) 1459 to - - -  (NC) 1265 to 1270
Memphis:  (March) 1476 to 1479 (NC)  1300 1/4 to - - -
Riceland Foods:  (March) Stuttgart 1464 ; Pendleton 1469 
 (NC) Stuttgart 1265 ; Pendleton 1275 

Chicago Futures: May up 29 1/4 at  1449
  July  up  26 1/4  at  1425 1/2
  Aug up 22 1/4  at  1381 1/4
  Sept up 17 3/4  at  1312 1/2
  Nov up 14 1/4  at  1275 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed with strong across the board gains despite negative outside markets and a poor weekly export sales report. On the positive side soybean oil and meal export sales were above expectations. November futures have chart resistance at $12.82 and then $13.07.

Wheat
Cash bid for March at Memphis  748 3/4 to 758 3/4;

Bids to farmers at Local Elevators 699-709;
River Elevators 703-736;

Chicago Futures: May down  7 1/4  at  728 3/4 
  July down 6 1/2  at  727 1/2 
  Sept down  6 1/2  at  732 3/4 
  Dec down  at  744 1/4 
  March down  6 1/4  at  756 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1246 to 1264;

Bids to farmers at River Elevators 1121-1156;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   755 to 758;
  New Crop at Memphis   578 1/4 to - - -;
Bids to farmers at River Elevators  717 to 763

Chicago Futures: May up  1/2  at  733 
  July unchanged  - - -  at  717 1/4 
  Sept up  3 1/4  at  598 1/4 
  Dec up  1 1/2  at  568 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat turned lower. July has resistance between $7.50 and $7.55, and then the 38% retracement level of $7.68. Strong domestic feeding of wheat and improved export demand are helping the current rebound.

Corn closed higher but gains were mostly less than 2 cents. Old crop May has resistance at the early February high just under $7.50. December needs to close above $5.70 if it is to gain momentum to move toward the recent high of $5.95.



Cotton & Rice  Date: March 21, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis   at  84.70
  Greenwood    at 84.70

New York Futures: May down  90  at  8820 
  July down  80  at  8915 
 Oct down  39  at  8789 
 Dec down  16  at  8782 
 March down  25  at  8727 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued lower as it retraces recent gains, particularly in the old crop contracts. China suggested their internal sales wouldn’t have any impact since they were at a price above world market levels. However, the perception is that this will curtail demand and perception is reality as far as the trade goes.

Rice

Long Grain Cash Bid for  March 1399/cwt  to  - - -
  NC 1408/cwt  to  - - -

Chicago Futures: May up  13  at  1478 1/2 
 July up  13  at  1507 
 Sept up  10 1/2  at  1488 
 Nov up  11  at  1505 
 Jan up  11  at  1511 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures firmed again today as the market is consolidating just above the recent low. The question is whether the consolidation is a “bear flag” which would suggest additional near term declines. Obviously, futures are more concerned with factors outside the U.S. as export movement of rough and milled rice continues at a good pace.



Cattle & Hogs  Date: March 21, 2013

Cattle
As reported by Federal-State Market News, receipts were 1333 head at sales in Charlotte, Ratcliff & Green Forest .  Compared with last week, feeder steers sold weak to $10 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 169.00 to - - -
  500 to 550 lbs. 156.50 to - - -
  600 to 650 lbs. 141.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 150.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 135.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 134.50 to - - -

Slaughter Cows, Boners 76.00   to   84.00
Light Weight 60.00 to 68.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   90.00   to   99.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   125.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 172.00 to 181.00
  600 to 650 lbs. 141.00 to 147.00
Heifers 450 to 500 lbs. 141.00 to 153.00
  500 to 550 lbs. 137.00 to 148.00

Chicago Futures:
Live Cattle: April up 37 at 12642
  June up 10 at 12200
Feeders: March up 5 at 13515
  April up 65 at 13830

Cattle Comment
Cattle futures were mixed again today. Live futures were sharply higher early in the day, but turned to close lower. June is still in a steep down-trend, but could be showing signs of bottoming. Legislation sponsored by Senator Pryor would shift sequester budget cuts within USDA to reduce the impact on meat inspectors.

Hogs
Peoria: were     steady   at   47.00   to   49.00

Chicago Futures: April up 47 at 7835
  May up 77 at 8830

Hogs Comment
Hogs turned higher today. Pork values are expected to be bottoming in expectation for increased demand this spring/summer. Packers are actively bidding for supplies for next week, when the Good Friday holiday will reduce plant time.



Poultry  Date: March 21, 2013

Eggs

New York:  Ex. Lg. 148-152; Lg. 146-150; 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