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Daily Market Report Archive

Grain & Soybean Date: March 25, 2013

Soybeans

Local Elevators:
(March) EAST AR:  1420 to 1457
(NC) Summ. 1239 to 1269
River Elevators:
(March) MISS: 1467 to 1472 ; AR & White 1422 to - - -
(NC) Summ. 1239 to 1291
Ark. Processor Bids: (March) 1447 to - - -  (NC) 1259 to 1264
Memphis:  (March) 1467 1/4 to 1472 1/4 (NC)  1291 to 1294
Riceland Foods:  (March) Stuttgart 1452 ; Pendleton 1457 
 (NC) Stuttgart 1259 ; Pendleton 1269 

Chicago Futures: May down 3 1/4 at  1437 1/4
  July  down  1/2  at  1417 1/2
  Aug down 1/2  at  1372 1/2
  Sept up 1 1/2  at  1302 3/4
  Sept up 5 1/4  at  1269
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed narrowly mixed with front end contracts slightly lower. Big crops in South America continue to hang over the market, however, pressure is being tempered by logistical problems. While, a port strike was averted delays in loading continue to be a problem. Old Crop May has overhead resistance between $14.84 and $14.97 with support at the recent low of $14.04. New Crop November has support at $12.47 and resistance just above $12.80.

Wheat
Cash bid for March at Memphis  747 1/4 to - - -;

Bids to farmers at Local Elevators 689-709;
River Elevators 698-736;

Chicago Futures: May down  2 1/2  at  727 1/4 
  July down 1/4  at  729 
  Sept up  1/2  at  735 1/2 
  Dec up  1 1/4  at  747 1/2 
  March up  1 1/2  at  759 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  1247 to 1265;

Bids to farmers at River Elevators 1131-1167;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for March at Memphis   757 1/4 to 758 1/4;
  New Crop at Memphis   585 to - - -;
Bids to farmers at River Elevators  722 to 768

Chicago Futures: May up  at  733 1/4 
  July up  6 3/4  at  715 1/4 
  Sept up  8 1/4  at  605 
  July up  6 3/4  at  572 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat ended mixed. March 1 wheat stocks are projected to be down from last year at 1.177 billion bushels in this week’s report. July has resistance between $7.50 and $7.55, and then the 38% retracement level of $7.68.

Corn continues to garner attention as it appears acreage has moved toward soybeans. The average pre report estimate is 97.3 million acres with a range of 95.7 to 98.5 million acres. This is just a little above the 2012 plantings of 97.16 million acres. Drought conditions have improved but yields tend to fall below trendline on years following major droughts, so the market will continue to reflect production expectations. December futures are edging higher as the market appears to be attempting to pull a few acres back to corn.



Cotton & Rice  Date: March 25, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 70 at  8309
  Greenwood down  70 at 8309

New York Futures: May down  70  at  8659 
  July down  45  at  8782 
 Oct down  75  at  8626 
 Dec down  30  at  8625 
 March down  30  at  8570 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was under pressure again today as the market continues to retrace recent gains. December has a 38% retracement objective of 83.62 cents with chart support at 85.12 cents. Old Crop May should find support around the top of a chart gap that starts around 85.56 cents. It will likely take a plantings intentions report around 9 million acres or slightly higher to get the market moving the other way.

Rice

Long Grain Cash Bid for  March 1413/cwt  to  - - -
  NC 1426/cwt  to  - - -

Chicago Futures: May up  2 1/2  at  1492 1/2 
 July up  3 1/2  at  1522 
 Sept up  at  1506 
 Nov unchanged  - - -  at  1520 
 Jan unchanged  - - -  at  1526 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were slightly higher today in a quiet trade ahead of the quarterly stocks and plant intentions reports on Thursday. While there is seemingly a disconnect between the U.S. and Asian markets concern about huge stocks remains on overriding factor. Demand for both milled and rough U.S. rice has kept the cash market firm, while futures dipped almost $2 during February and the first half of March. This week’s reports should give the market a good idea of where we are.



Cattle & Hogs  Date: March 25, 2013

Cattle
As reported by Federal-State Market News, receipts were 941 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold steady to $4 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 182.50 to - - -
  500 to 550 lbs. 154.50 to - - -
  600 to 650 lbs. 146.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 167.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 140.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 149.00 to - - -

Slaughter Cows, Boners 78.00   to   85.00
Light Weight 64.00 to 68.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   91.00   to   100.00
Midwest Steers   were   at   124.00   to   - - -
Panhandle Steers   were   at   124.00   to   125.00

Oklahoma City Feeders
Steers 400 to 450 lbs. 184.00 to 193.00
  500 to 550 lbs. 166.00 to 169.00
Heifers 400 to 450 lbs. 161.00 to 161.50
  500 to 550 lbs. 144.50 to 149.00

Chicago Futures:
Live Cattle: April up 25 at 12645
  June up 30 at 12147
Feeders: March up 7 at 13472
  April up 35 at 13840

Cattle Comment
Cattle futures turned higher. June is still in a steep down-trend, but could be showing signs of bottoming.

Hogs
Peoria: were $4 lower to     steady   at   45.00   to   47.00

Chicago Futures: April up 42 at 7847
  May up 50 at 8870

Hogs Comment
Hogs opened the week on the plus side as well. Pork values are expected to be bottoming in expectation for increased demand this spring/summer. The April contract posted strong gains, and could be showing signs of bottoming. Last week’s low of $76.80 is support.



Poultry  Date: March 25, 2013

Eggs

New York:  Ex. Lg. 148-152; Lg. 146-150; Med. 120-124;
Chicago:  Ex. Lg. 137-145; Lg. 135-143; Med. 102-110;

National Turkeys
Hens: 8-16 lbs 95.50
Toms: 16-24 lbs 94.50
 

Delmarva Broilers
U.S. Grade A
N/A