(Jan) EAST AR: 1022 to 1036
(NC) Summ. 940 to 980
(Jan) MISS: 1040 to 1071 ; AR & White 1025 to 1039
(NC) Summ. 962 to 995
Ark. Processor Bids: (Jan) 1015 to 1036 (NC) 965 to 972
Memphis: (Jan) 1077 to - - - (NC) 1004 3/4 to 1009 3/4
Riceland Foods: (Jan) Stuttgart - - - ; Pendleton - - - ; West Memphis - - -
|July||down||1 3/4||at||1066 3/4|
|Nov||up||1 3/4||at||1024 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were slightly lower for the day as a big South American crop limited upside potential. Even a weaker dollar and stronger crude oil were not enough to generate any substantial upward momentum. For now, the market seems content to hold just below major resistance, $10.70 for January and March and $10.55 for November.
Cash bid for January at Memphis 507 1/4 to 537 1/4;
|Bids to farmers at Local Elevators||528-532;|
|Chicago Futures:||Mar||up||14 1/4||at||567 1/4|
|May||up||14 1/4||at||579 3/4|
|Sept||up||13 3/4||at||602 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 757 to - - -;
|Bids to farmers at River Elevators||613-688;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 405 3/4 to 409 3/4;|
|New crop at Memphis 374 3/4 to 429 3/4;|
|Bids to farmers at River Elevators||382 to 404|
|Chicago Futures:||Mar||up||3||at||421 3/4|
|Dec||up||3 1/2||at||448 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Corn was higher again, with weather providing support. Next week’s report may or may not answer the question regarding the size of the ’09 crop. Approximately 4 million acres will not be harvested until spring. Actual crop losses are expected to be 50 to 100 million bushels. In addition, low test weighs and quality problems will need to be factored in. March is testing major support between $4.20 and $4.25 and could move higher with a close above this level.
Wheat ended higher today supported by fund buying. 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 06, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 43 at 6955|
|Greenwood up 43 at 6955|
|New York Futures:||Mar||up||43||at||7355|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton firmed slightly after suffering huge losses yesterday. The market responded to big holiday week gains in China with a big upturn on Monday. Today, there was not much new to give the market direction. However, the market held key support. In ability to move toward recent resistance would be bearish.
|Long Grain Cash Bid for||Jan/Feb||- - -||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||unchanged||0||at||1509 1/2|
|Sept||down||12 1/2||at||1399 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was narrowly mixed with little fresh news to give the market direction. 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 06, 2010
As reported by Federal-State Market News, receipts were 919 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold steady to $2 higher .
|Medium & Large Frame 1||400||to||450 lbs.||107||to||- - -|
|500||to||550 lbs.||95.50||to||- - -|
|600||to||650 lbs.||91||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||88||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||82||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||78||to||- - -|
Slaughter Cows, Boners 42 to 47.50
Light Weight 28 to 33
Bulls, Yield Grade 1 1400 to 2300 lbs. 56 to 65
Midwest Steers were at 83 to - - -
Panhandle Steers were at 83 to - - -
|Oklahoma City Feeders
Cattle futures ended lower but traded well within yesterday’s wide trading range. The recent high near $87 could prove to be key resistance. A close below $85.35 would open the market to further losses.
Peoria: were steady to $4 higher at 40 to 42
St. Paul n/a at - - - to - - -
Hogs turned lower, and this week’s highs between $67.80 and $67.85 could prove to be tough resistance. Profit taking on recent gains sparked today’s selling.
Poultry Date: January 06, 2010
|New York:||Ex. Lg. 118-122; Lg. 116-120; Med. 88-92;|
|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 for mid week trading. Supplies of all sizes were close balanced to short for current trade needs. In production areas live supplies were moderate at mostly desirable weights.