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Daily Market Report Archive

Grain & Soybean Date: April 04, 2013

Soybeans

Local Elevators:
(April) EAST AR:  1355 to 1392
(NC) Summ. 1203 to 1233
River Elevators:
(April) MISS: 1398 to 1410 ; AR & White 1356 to 1387
(NC) Summ. 1203 to 1255
Ark. Processor Bids: (April) 1382 to - - -  (NC) 1223 to 1228
Memphis:  (April) 1397 to 1412 (NC)  1258 to 1261
Riceland Foods:  (April) Stuttgart 1387 ; Pendleton 1392 
 (NC) Stuttgart 1223 ; Pendleton 1233 

Chicago Futures: May down 8 1/4 at  1372
  July  down  at  1351 3/4
  Aug down 4 3/4  at  1322
  Sept down 3 1/4  at  1268
  Nov up 1/2  at  1233
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed mixed with a late rally pulling New Crop contracts to the positive side. Strong new crop exports to China provided the late boost. Otherwise a strong dollar and weak processing margins limited upside movement. While soybean export demand was good, meal and oil remained weak. November futures dipped below chart support at $12.25 but rallied late to close well above the day’s low.

Wheat
Cash bid for April at Memphis  699 to 704;

Bids to farmers at Local Elevators 660-680;
River Elevators 669-714;

Chicago Futures: May down  2 1/2  at  694 
  March down 1 3/4  at  699 1/2 
  Sept down  2 1/4  at  708 
  Dec down  at  722 
  March down  3 1/2  at  736 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for April at Memphis  1063 to 1080;

Bids to farmers at River Elevators 946-982;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for April at Memphis   645 to - - -;
  New Crop at Memphis   531 to 535;
Bids to farmers at River Elevators  612 to 665

Chicago Futures: May down  11 1/2  at  630 
  July down  11 3/4  at  618 1/2 
  Sept down  at  555 
  Dec up  1/2  at  540 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat ended lower after a big rally this morning. 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, and today’s high of $7.10 could prove to be a barrier along the way.

Corn also ended the session mixed on a late flurry that developed when the dollar made a huge reversal and move lower. Old crop contracts were over 10 cents lower despite renewed export interest. Technically May futures over sold and due a rebound at any point. December futures are consolidating just above Monday’s low. This could be a bear flag that is forming and would suggest another leg lower.



Cotton & Rice  Date: April 04, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 89 at  84.83
  Greenwood down  89 at 84.83

New York Futures: May down  89  at  8833 
  July down  71  at  8997 
 Oct down  45  at  8923 
 Dec down  30  at  8794 
 March down  26  at  8756 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was lower with a stronger dollar limiting upside movement. The market didn’t respond to the late reversal in the dollar. December futures continue to consolidate in a sideways pattern between 85 and 89 cents. Old Crop May continues to work just below 90 cents with recent resistance having been established with the recent move to 94 cents.

Rice

Long Grain Cash Bid for  April - - -  to  - - -
  NC 1464/cwt  to  - - -

Chicago Futures: May up  1 1/2  at  1566 1/2 
 July up  1/2  at  1594 1/2 
 Sept down  at  1544 
 Nov down  at  1560 1/2 
 Jan down  at  1571 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were narrowly mixed with small gains in the old crop contracts. Fundamentals are unchanged with decent export demand and tightening old crop stocks. Weather continues to delay field preparation and is pushing planting opportunities later with each passing day. Last week’s planting intentions indicated a slightly smaller acreage for 2013.



Cattle & Hogs  Date: April 04, 2013

Cattle
As reported by Federal-State Market News, receipts were 1102 head at sales in Charlotte, Ratcliff & Green Forest.  Compared with last week, feeder steers sold mostly $5 to $10 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 184.00 to - - -
  500 to 550 lbs. 165.00 to - - -
  600 to 650 lbs. 154.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 159.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 143.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 143.00 to - - -

Slaughter Cows, Boners 78.00   to   85.00
Light Weight 65.00 to 69.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   90.00   to   99.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 450 lbs. 189.50 to 191.00
  450 to 500 lbs. 180.00 to 185.50
Heifers 400 to 450 lbs. 166.00 to 170.00
  450 to 500 lbs. 152.00 to 159.50

Chicago Futures:
Live Cattle: April down 72 at 12725
  June down 85 at 12235
Feeders: April down 65 at 14390
  March down 62 at 14595

Cattle Comment
Cattle futures were lower. A stronger dollar and an increase in unemployment claims this month have traders worrying about both export and domestic demand. June will have resistance between $124.40 and $124.50 on any rebound.

Hogs
Peoria: were     steady   at   49.50   to   51.50

Chicago Futures: April up 10 at 8142
  May down 100 at 8915

Hogs Comment
Hogs were mixed, with expiring April posting gains. The June contract posted a key reversal yesterday, suggesting a possible move to the 50% retracement level of $94.40.



Poultry  Date: April 04, 2013

Eggs

New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 97-101;
Chicago:  Ex. Lg. 135-143; Lg. 133-141; Med. 95-103;

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

Delmarva Broilers
U.S. Grade A
N/A