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Daily Market Report Archive

Grain & Soybean Date: April 09, 2013

REMINDER: April Market Update Webinar tomorrow (Wed., Apr. 10, 2013) at 12:30 p.m. TO participate in the Webinar click on the link and follow the instructions: www.tinyurl.com/arfbwebex For more information call Matt King at 501-519-4297

Soybeans

Local Elevators:
(April) EAST AR:  1368 to 1405
(NC) Summ. 1211 to 1247
River Elevators:
(April) MISS: 1421 to 1430 ; AR & White 1370 to 1410
(NC) Summ. 1213 to 1265
Ark. Processor Bids: (April) 1400 to 1405  (NC) 1231 to 1236
Memphis:  (April) 1417 1/2 to 1432 1/2 (NC)  1266 3/4 to 1268 3/4
Riceland Foods:  (April) Stuttgart 1401 ; Pendleton 1406 
 (NC) Stuttgart 1232 ; Pendleton 1248 

Chicago Futures: May up 17 1/2 at  1395 1/2
  July  up  13 1/4  at  1371 1/4
  Aug up 10 1/4  at  1339 1/2
  Sept up 10  at  1280 1/2
  Nov up 9 1/2  at  1241 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed higher as trader’s evened positions ahead of tomorrow’s report. Reports from Argentina suggested a smaller than projected crop is being harvested. Too much rain in the central and southern regions and drought conditions in the north apparently reduced yields, as indicated by harvested results. Technical resistance is seen around $14 for May futures. November continues to inch toward chart resistance at $12.50 after holding above $12.25 in recent days.

Wheat
Cash bid for April at Memphis  713 3/4 to 731 3/4;

Bids to farmers at Local Elevators 674-694;
River Elevators 688-724;

Chicago Futures: May down  3 3/4  at  708 3/4 
  March down 3 1/2  at  714 
  Sept down  at  721 1/4 
  Dec down  3 1/2  at  734 1/2 
  March down  2 3/4  at  747 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for April at Memphis  1088 to 1106;

Bids to farmers at River Elevators 971-1007;
Today's Arkansas LDP rate for sorghum is:

Corn

Cash bid for April at Memphis   658 1/4 to 659 1/4;
  New Crop at Memphis   538 1/4 to - - -;
Bids to farmers at River Elevators  626 to 659

Chicago Futures: May up  10 3/4  at  644 1/4 
  July up  at  627 1/2 
  Sept up  11  at  562 1/4 
  Dec up  8 1/4  at  540 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat turned lower today. The U.S. and European crops could have been damaged by recent cold weather, and that has helped the market climb back up from the lows set a week ago. July will have tough resistance near $7.40 on a rebound.

May Corn remain technically oversold despite gains this week ahead of the April supply demand report. December continues to consolidate in a sideways pattern between $5.25 and $5.40, which was previous support. Indications China will import 250 to 300 million bushels of corn the next marketing year is a positive for the market. However, upside potential will be limited if acreage intentions are realized and planting is completed in a timely fashion.



Cotton & Rice  Date: April 09, 2013


Cotton

Spot Price, Grade 41 Staple 34: Memphis down 49 at  81.39
  Greenwood down  49 at 81.39

New York Futures: May down  74  at  8464 
  July down  65  at  8661 
 Oct down  47  at  8609 
 Dec down  at  8579 
 March up  at  8590 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was sharply lower with both old and new crop contracts declining to new recent lows. May futures closed at the lowest level in a month, while December recovered enough to close above the recent low. It appears weather may be pushing some acres back toward cotton in the southern production regions.

Rice

Long Grain Cash Bid for  April - - -  to  - - -
  NC 1467/cwt  to  - - -

Chicago Futures: May up  12 1/2  at  1570 1/2 
 July up  12 1/2  at  1598 1/2 
 Sept up  11 1/2  at  1546 1/2 
 Nov up  11 1/2  at  1563 
 Jan up  11 1/2  at  1573 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures continued yesterday’s late rebound and ended the session higher at the midpoint of today’s trading range. Recent drying conditions should have allowed field work to resume. However, another rainy cool period is expected to move through the mid-south tomorrow and Thursday. This could further delay field work in some areas. Rice futures are moving back toward recent resistance of $15.60 for September, and 15.97 for May.



Cattle & Hogs  Date: April 09, 2013

Cattle
As reported by Federal-State Market News, receipts were 834 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold firm to $8 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 196.50 to - - -
  500 to 550 lbs. 164.00 to - - -
  600 to 650 lbs. 153.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 176.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 146.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 152.00 to - - -

Slaughter Cows, Boners 76.00   to   84.00
Light Weight 56.00 to 64.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   89.00   to   98.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 500 lbs. 175.00 to 179.00
  500 to 550 lbs. 166.00 to 175.50
Heifers 450 to 500 lbs. 145.00 to 149.00
  500 to 600 lbs. 138.50 to 148.00

Chicago Futures:
Live Cattle: April up 45 at 12672
  June down 32 at 12170
Feeders: April down 12 at 14262
  May steady - - - at 14475

Cattle Comment
Cattle futures were mostly lower. Weak beef prices and negative packer margins will limit the upside. The snowstorm in the west will likely have little impact since packers have already bought enough to fill their schedules this week.

Hogs
Peoria: were       at   52.00   to   52.50

Chicago Futures: April up 20 at 8072
  May steady - - - at 8730

Hogs Comment
Hogs were mixed. The fundamental situation for hogs is not great. Cash markets are lackluster at best with packer margins in the red and product values disappointing. May hogs are holding just above support at $86.50.



Poultry  Date: April 09, 2013

Eggs

New York:  Ex. Lg. 106-110; Lg. 104-108; Med. 96-100;
Chicago:  Ex. Lg. 107-115; Lg. 105-113; Med. 81-89;

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

Delmarva Broilers
U.S. Grade A
N/A