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Daily Market Report Archive

Grain & Soybean Date: April 03, 2013

Soybeans

Local Elevators:
(April) EAST AR:  1363 to 1400
(NC) Summ. 1203 to 1233
River Elevators:
(April) MISS: 1406 to 1415 ; AR & White 1364 to 1395
(NC) Summ. 1203 to 1255
Ark. Processor Bids: (April) 1390 to - - -  (NC) 1223 to 1228
Memphis:  (April) 1406 1/4 to 1420 1/4 (NC)  1257 1/2 to 1260 1/2
Riceland Foods:  (April) Stuttgart 1395 ; Pendleton 1400 
 (NC) Stuttgart 1223 ; Pendleton 1233 

Chicago Futures: May down 13 3/4 at  1380 1/4
  July  down  16 3/4  at  1357 3/4
  Aug down 15 1/4  at  1326 3/4
  Sept down 13 3/4  at  1271 1/4
  Nov down 16 1/4  at  1232 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed lower with double digit declines. Poor crush margins due to weak meal demand contributed to the downturn. New Crop November fell to within a few cents of the next chart support at $12.25, before retracing a portion of the decline. The next support is around $11.80 and then $11.40.

Wheat
Cash bid for April at Memphis  701 1/2 to 706 1/2;

Bids to farmers at Local Elevators 661-681;
River Elevators 670-715;

Chicago Futures: May up  25 3/4  at  696 1/2 
  March up 24  at  701 1/4 
  Sept up  22 1/4  at  710 1/4 
  Dec up  21 1/4  at  725 
  March up  21  at  739 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for April at Memphis  1083 to 1101;

Bids to farmers at River Elevators 967-1003;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for April at Memphis   656 1/2 to - - -;
  New Crop at Memphis   535 to 539;
Bids to farmers at River Elevators  624 to 677

Chicago Futures: May up  at  641 1/2 
  July up  at  630 1/4 
  Sept up  4 1/4  at  559 
  Dec up  at  539 1/2 
  Today's Arkansas LDP rate for corn is: 0??

Grain Comment
Wheat futures continued to recover today from the hit taken in reaction to the stocks report last week. Cold weather in the U.S. and in Europe could have a negative impact on yields. Weekly crop ratings for last week showed only 34% of the U.S. crop rated good to excellent, and that could be deteriorating further, although the improving moisture situation could benefit the crop. July has a long way to go to challenge resistance near $7.40.

Corn managed to hold small gains at the end of the trading session. Ethanol showed a minor increase in production the last week of March. While that period ended as corn price levels started to decline there is little indication that demand is sufficient to push ethanol production higher. Gasoline demand remains below last year. So any ramp up in ethanol will likely move into stocks. December futures established support at $5.25 on Monday and have held above that level.



Cotton & Rice  Date: April 03, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis up 35 at  85.72
  Greenwood up  35 at 85.72

New York Futures: May up  35  at  8922 
  July up  34  at  9068 
 Oct up  83  at  8968 
 Dec up  70  at  8824 
 March up  50  at  8782 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton firmed on indications China will continue to import cotton. A smaller 2013 U.S. crop and good demand have pushed both old crop and new crop back toward recent highs. December continues in a consolidation pattern with support around 86 cents and resistance at the mid-March high just above 89 cents.

Rice

Long Grain Cash Bid for  April 1485/cwt  to  - - -
  NC 1470/cwt  to  - - -

Chicago Futures: May down  11 1/2  at  1565 
 July down  11 1/2  at  1594 
 Sept down  at  1550 
 Nov down  at  1566 1/2 
 Jan down  at  1577 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures made strong gains early but fell sharply on profit taking, and closed lower after retracing a portion of recent gains. The market outlook remains firm on fairly tight long grain stocks and potentially smaller U.S. plantings in 2013.



Cattle & Hogs  Date: April 03, 2013

Cattle
As reported by Federal-State Market News, receipts were 447 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold $1 to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 171.00 to - - -
  500 to 550 lbs. 154.50 to - - -
  600 to 650 lbs. - - - to - - -
 Medium & Large Frame 2   400 to 450 lbs. 154.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 139.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 138.00 to - - -

Slaughter Cows, Boners 77.00   to   84.00
Light Weight 65.00 to 70.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   90.00   to   102.00
Midwest Steers   were   at   128.00   to   - - -
Panhandle Steers   were   at   128.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 180.00 to 193.00
  500 to 600 lbs. 162.50 to 172.50
Heifers 500 to 600 lbs. 149.25 to 156.00
  600 to 650 lbs. 137.50 to 143.00

Chicago Futures:
Live Cattle: April up 55 at 12797
  June up 37 at 12320
Feeders: April down 17 at 14455
  March down 52 at 14657

Cattle Comment
Live cattle turned higher on seasonal buying, recovering a portion of Tuesday’s big losses. June will have resistance between $124.40 and $124.50 on any rebound. Feeders were under pressure from higher corn prices and profit taking.

Hogs
Peoria: were $1.50 lower to $2.50     higher   at   49.50   to   51.50

Chicago Futures: April up 37 at 8132
  May up 20 at 9015

Hogs Comment
Hogs turned higher. Pork values have improved so far this week, as the market expects demand to improve due to seasonal factors.



Poultry  Date: April 03, 2013

Eggs

New York:  Ex. Lg. 135-143; Lg. 133-141; Med. 95-103;
Chicago:  Ex. Lg. 128-132; Lg. 126-130; Med. 101-105;

National Turkeys
Hens: 8-16 lbs 97.50
Toms: 16-24 lbs 98.16
 

Delmarva Broilers
U.S. Grade A
N/A