(Jan) EAST AR: 1005 to 1024
(NC) Summ. 935 to 975
(Jan) MISS: 1037 to 1063 ; AR & White 1008 to 1038
(NC) Summ. 957 to 985
Ark. Processor Bids: (Jan) 1014 to 1030 (NC) 960 to 967
Memphis: (Jan) 1061 1/2 to 1063 (NC) 990 to - - -
Riceland Foods: (Jan) Stuttgart 1039 ; Pendleton 1034 ; West Memphis 1064
|Chicago Futures:||Mar||up||9 1/2||at||1058|
|May||up||8 3/4||at||1062 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans started 2010 with good gains as funds used a weak dollar and strong crude oil as a basis for establishing new positions. Gains were trimmed later in the session with January falling back to the recently broken uptrend. January has initial resistance between $10.70 and $10.75. New crop November lost most of the early gains with resistance developing just above $10.30.
Cash bid for January at Memphis 497 3/4 to 516 3/4;
|Bids to farmers at Local Elevators||520-524;|
|Chicago Futures:||Mar||up||16 1/4||at||557 3/4|
|May||up||15 3/4||at||570 3/4|
|July||up||15 3/4||at||581 3/4|
|Dec||up||14 3/4||at||617 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 706 to - - -;
|Bids to farmers at River Elevators||605-680;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 386 1/2 to 398 1/2;|
|New crop at Memphis 371 to 419;|
|Bids to farmers at River Elevators||371 to 392|
|Chicago Futures:||Mar||up||4||at||418 1/2|
|May||up||4 1/2||at||428 3/4|
|Dec||up||4 1/2||at||445 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Corn futures held small gains at the close, after trimming big early moves. March futures moved to a six month high before declining to settle below $4.20. Bad weather across the Midwest and unharvested ’09 corn are keeping the market firm. Support at $4.00 and then $3.80 are key points to watch.
Wheat closed sharply higher as investors appear to think it is underpriced relative to soybeans and corn. However, U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business.
Cotton & Rice Date: January 04, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 90 at 7200|
|Greenwood up 90 at 7200|
|New York Futures:||Mar||up||40||at||7600|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Like grains and soybeans, cotton trimmed early gains, but still closed higher for the day. Fundamentals are unchanged as the market looks to tightening stocks and improving economic conditions to boost overall demand. March futures moved to new recent highs with current resistance just under 77 cents. New crop December is moving in a sideways pattern with resistance at 78 cents and support around 75 cents. A close to either side would indicate further movement in the direction of the breakout.
|Long Grain Cash Bid for||Jan/Feb||1383/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||up||24 1/2||at||1513 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice continued to firm with a second day of solid gains. Current resistance is just under $15. Fundamentals are unchanged with the Philippines having offered several big tenders to cover projected needs of over 2.2 million metric tonnes. India may still need to import rice, but it will be later and a lot more subtle than what we’ve seen from the Philippines.
Cattle & Hogs Date: January 04, 2010
As reported by Federal-State Market News, receipts were - - head at sales in - - -. Compared with last week, feeder steers - - - .
|Medium & Large Frame - - -||- - -||to||- - - lbs.||- - -||to||- - -|
|- - -||to||-- - lbs.||-- -||to||- - -|
|-- --||to||- -- lbs.||- - -||to||- - -|
|Medium & Large Frame -- -||---||to||--- lbs.||- - -||to||- - -|
|Medium & Large Frame - - -||- --||to||- - - lbs.||- - -||to||- - -|
|Medium & Large Frame - - -||-- -||to||- - - lbs.||-- -||to||- - -|
Slaughter Cows, Boners - - - to - - -
Light Weight - - - to - -
Bulls, Yield Grade - - - - - - to - - - lbs. - - - to - - -
Midwest Steers were at 78 to 85
Panhandle Steers were at 84 to 85.50
|Oklahoma City Feeders
Live cattle futures made a huge downward reversal which leaves the charts looking very negative. Today’s high near $87 may be key resistance. Weak operating margins will limit packer interest.
Peoria: were at 38 to 40
St. Paul - - - at - - - to - - -
Weather is limiting hog movement and that helped boost futures. However, this may lead to small backlog when weather clears up. Last week USDA projected a higher than expected pig crop for the last quarter. It wasn’t a great deal above expectations, but it was higher than expected considering recent sow liquidation.
Poultry Date: January 04, 2010
|New York:||Ex. Lg. 118-122; Lg. 116-120; Med. 95-97;|
|Chicago:||Ex. Lg. 108-116; Lg. 106-114; Med. 74-82;|
Eastern Region Turkeys
U.S. Grade A
The market tone was firm. Demand was fair to fairly good with trading limited. Supplies of all sizes were close balanced to tight to satisfy trade needs. In production areas live supplies were moderate at mostly desirable weights.