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Daily Market Report Archive

Grain & Soybean Date: April 05, 2013

Soybeans

Local Elevators:
(April) EAST AR:  1345 to 1382
(NC) Summ. 1198 to 1228
River Elevators:
(April) MISS: 1388 to 1397 ; AR & White 1346 to 1377
(NC) Summ. 1198 to 1250
Ark. Processor Bids: (April) 1372 to - - -  (NC) 1218 to 1223
Memphis:  (April) 1386 3/4 to 1401 3/4 (NC)  1253 to 1256
Riceland Foods:  (April) Stuttgart 1377 ; Pendleton 1382 
 (NC) Stuttgart 1218 ; Pendleton 1228 

Chicago Futures: May down 10 1/4 at  1361 3/4
  July  down  at  1343 3/4
  Aug down 4 3/4  at  1317 1/4
  Sept down at  1265
  Nov down at  1228
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans again closed lower with concern about Avian flu in China providing a negative undertone. Bird flu has tended to disrupt feed demand in the past and this case isn’t expected to be an exception. Soybeans and soy meal tend to back up at processing plants and buying declines. Add to this the distinct possibility that weather in the U.S. may push some acreage to soybeans and you have additional, pressure on the market. May futures have support around $13.40. November dipped below support at $12.25 but climbed back above that point at the close. There is little chart support below this level until the July 2012 low at $11.40.

Wheat
Cash bid for April at Memphis  704 to - - -;

Bids to farmers at Local Elevators 664-684;
River Elevators 673-718;

Chicago Futures: May up  at  699 
  March up 4 3/4  at  704 1/4 
  Sept up  4 1/4  at  712 1/4 
  Dec up  at  725 
  March up  2 1/4  at  738 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for April at Memphis  1061 to 1079;

Bids to farmers at River Elevators 945-980;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for April at Memphis   644 to - - -;
  New Crop at Memphis   528 to 532;
Bids to farmers at River Elevators  611 to 664

Chicago Futures: May down  at  629 
  July down  3/4  at  617 3/4 
  Sept down  at  552 
  Dec down  at  535 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was higher across the board. 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. Rumors of China buying wheat were also a plus, but there has been no confirmation yet. July has a long way to go to challenge resistance near $7.40, and Thursday’s high of $7.10 could prove to be a barrier along the way.

Corn closed out the week with further declines. The market has yet to stage a rally following recent sharp losses. The market is technically oversold and due a rebound. Increased demand interest could spark a rebound soon. However, May could fall to support around $6 before any rebound is seen.



Cotton & Rice  Date: April 05, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 154 at  8329
  Greenwood down  154 at 8329

New York Futures: May down  154  at  8679 
  July down  140  at  8857 
 Oct down  130  at  8793 
 Dec down  123  at  8671 
 March down  93  at  8663 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was sharply lower as poor economic conditions weighed on the market. December futures found strong resistance just above 88 cents this week. The market is working sideways between 86 and 88 cents.

Rice

Long Grain Cash Bid for  April - - -  to  - - -
  NC 1443/cwt  to  - - -

Chicago Futures: May down  17  at  1549 1/2 
 July down  17  at  1577 1/2 
 Sept down  21 1/2  at  1522 1/2 
 Nov down  22  at  1538 1/2 
 Jan down  22  at  1549 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were lower again today as the market continues to retrace early week gains. Sharp losses in the equity markets and a poor jobs report added uncertainty to all commodity markets. A very weak undertone in the Asian markets persists with huge Thai intervention stocks a factor.



Cattle & Hogs  Date: April 05, 2013

Cattle
As reported by Federal-State Market News, receipts were 4600 head at sales in Arkansas this week.  Compared with last week, feeder steers sold mostly firm to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 178.50 to - - -
  500 to 550 lbs. 161.00 to - - -
  600 to 650 lbs. 147.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 169.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 140.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 136.50 to - - -

Slaughter Cows, Boners 76.00   to   83.00
Light Weight 63.00 to 68.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   91.00   to   99.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 164.00 to 193.00
  500 to 550 lbs. 158.00 to 184.00
Heifers 450 to 500 lbs. 149.00 to 167.00
  500 to 550 lbs. 144.00 to 160.00

Chicago Futures:
Live Cattle: April down 122 at 12602
  June down 85 at 12150
Feeders: April down 132 at 14257
  May down 165 at 14430

Cattle Comment
Cattle futures were lower across the board. A stronger dollar and an increase in unemployment claims this month have traders worrying about both export and domestic demand. Today’s negative chart action bring a retest of June’s recent low of $120.10 into play.

Hogs
Peoria: were     steady   at   49.50   to   51.50

Chicago Futures: April down 140 at 8002
  May down 225 at 8690

Hogs Comment
Hogs were also lower across the board. May hogs are right back at support near $86.50. June has retreated from the 38% retracement level and now could be headed for a retest of support just above $87.



Poultry  Date: April 05, 2013

Eggs

New York:  Ex. Lg. 115-119; Lg. 113-117; Med. 96-100;
Chicago:  Ex. Lg. 135-143; Lg. 133-141; Med. 95-103;

National Turkeys
Hens: 8-16 lbs 97.00
Toms: 16-24 lbs 95.92
 

Delmarva Broilers
U.S. Grade A
Prices are slightly mixed, mostly steady to slightly higher. Offerings are moderate to at times heavy. Demand into retail and food service channels is light to moderate, fast food moderate. Floor stocks are moderate. Market activity is slow to moderate.