(Jan) EAST AR: 949 to 963
(NC) Summ. 875 to 925
(Jan) MISS: 963 to 1007 ; AR & White 948 to 962
(NC) Summ. 907 to 935
Ark. Processor Bids: (Jan) 955 to 966 (NC) 900 to 917
Memphis: (Jan) 999 to 1006 (NC) 939 1/2 to - - -
Riceland Foods: (Jan/Feb) Stuttgart 966 ; Pendleton 963 ; West Memphis 1007
|Chicago Futures:||Mar||down||8 1/2||at||984|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybean futures posted big losses today despite a positive export report. USDA said 27.7 million bushels of soybeans were sold to foreign buyers this week. The long-only index funds are still readjusting positions after the surprising production report this week, and that pushed futures lower. March is still holding above Tuesday’s low of $9.70, so that is a good sign.
Cash bid for January at Memphis 467 3/4 to 497 3/4;
|Bids to farmers at Local Elevators||492-499;|
|Chicago Futures:||Mar||down||9 1/4||at||527 3/4|
|May||down||9 1/4||at||540 3/4|
|July||down||9 1/2||at||551 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 680 to - - -;
|Bids to farmers at River Elevators||539-614;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 377 to 379;|
|New crop at Memphis 338 1/4 to 393 1/4;|
|Bids to farmers at River Elevators||353 to 374|
|May||down||3 1/2||at||391 3/4|
|Sept||down||3 3/4||at||408 1/4|
|Dec||down||3 1/4||at||415 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures turned lower today. The gap left Tuesday in reaction to the supply/demand report between $5.90 ¾ and $5.60 ¼ could prove to be tough resistance despite the smallest winter wheat seedings in nearly 100 years. Why? Because demand for wheat is terrible. USDA increased the carryover estimate to 976 million bushels despite a larger than expected cut in production. July is so far holding above Tuesday’s low of $5.47.
Corn futures were lower again today. March traded in a narrow range within yesterday’s trading range and looks to have found support at the chart gap to $3.67 and $3.62 left in October. Even though approximately a half a billion bushels of corn remain in the field, USDA raised their harvested acreage estimate 300,000 acres and their yield estimate to 165.2 bushels per acre—the net result being an increase of 230 million bushels in the production estimate. USDA did say that revisions to the estimates could come in March, despite the fact that this is the annual report.
Cotton & Rice Date: January 14, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 52 at 6891|
|Greenwood down 52 at 6891|
|New York Futures:||Mar||down||52||at||7291|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton futures saw renewed weakness despite the USDA reporting the highest export sales total for the marketing year. 437,000 running bales of old and new crop cotton were sold to foreign customers this week. March has support at the recent low of 72.43 cents.
|Long Grain Cash Bid for||Jan/Feb||1273/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||up||7||at||1403 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice ended higher, but didn’t make much progress recovering from the week’s big losses. USDA raised their production estimate 1 percent to 220 million cwt. Average yield, at 7,085 lbs. per acre, was up 47 lbs. from the previous estimate and 239 lbs. from 2008. Probably impacting the market more, though, was the quarterly stocks report. Rough rice stocks were up 13 percent from a year ago and milled rice stocks were up 8%. The majority of the increase is in medium grain, however, so losses in Chicago are probably overdone. March is hovering around previous support at $14.
Cattle & Hogs Date: January 14, 2010
As reported by Federal-State Market News, receipts were 3680 head at sales in Charlotte and Green Forest. Compared with last week, feeder steers sold $2 to $7 higher, instances $10 higher .
|Medium & Large Frame 1||400||to||450 lbs.||113||to||- - -|
|500||to||550 lbs.||104.50||to||- - -|
|600||to||650 lbs.||93||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||100||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||90.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||87.50||to||- - -|
Slaughter Cows, Boners 40 to 47
Light Weight 30 to 35
Bulls, Yield Grade 1-2 1000 to 2100 lbs. 52 to 59
Midwest Steers n/a at - - - to - -
Panhandle Steers n/a at - - - to - - -
|Oklahoma City Feeders
Cattle futures turned higher today. Brisk cash market movement and yesterday’s big gains in hog futures were supportive. February found resistance at $86.80 too much, and backed off a bit from the day’s high.
Peoria: were 50¢ to $3 lower at 39 to 41
St. Paul n/a at - - - to - - -
Hog futures were overbought after yesterday’s rally, and profit taking weighed on futures. Today’s high of $69.40 is the first level of resistance.
Poultry Date: January 14, 2010
|New York:||Ex. Lg. 125-129; Lg. 123-127; Med. 92-96;|
|Chicago:||Ex. Lg. 108-116; Lg. 106-114; Med. 71-79;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady to fully steady. Demand approaching the weekend was mostly moderate. Supplies of all sizes were adequate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.