(Jan) EAST AR: 915 to 929
(NC) Summ. 877 to 899
(Jan) MISS: 927 to 973 ; AR & White 912 to 926
(NC) Summ. 876 to 909
Ark. Processor Bids: (Jan) 921 to 932 (NC) 886 to 887
Memphis: (Jan) 965 to - - - (NC) 908 1/2 to - - -
Riceland Foods: (Jan/Feb) Stuttgart 932 ; Pendleton 929 ; West Memphis 927
|Chicago Futures:||Mar||down||13 1/2||at||950|
|May||down||13 1/2||at||956 3/4|
|Sept||down||9 1/2||at||941 1/2|
|Nov||down||10 3/4||at||928 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans continued the big decline that began before last week’s supply demand report. That report added pressure to the market and a big improvement in the dollar has simply kept everything in a negative mode. Funds have assessed their strategies and many have abandoned their positions. March futures penetrated the last support above the summer/fall low at $8.88. New crop November held trendline support at $9.22, but could be pushed to the September low of $8.78 if the dollar continues to strengthen.
Cash bid for January at Memphis 437 1/2 to 467 1/2;
|Bids to farmers at Local Elevators||464-471;|
|Chicago Futures:||Mar||down||3||at||497 1/2|
|July||down||2 3/4||at||523 3/4|
|Dec||down||1 3/4||at||564 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 657 to - - -;
|Bids to farmers at River Elevators||516-591;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 366 to 367;|
|New crop at Memphis 325 3/4 to 383 3/4;|
|Bids to farmers at River Elevators||341 to 362|
|Chicago Futures:||Mar||down||1 1/4||at||368|
|May||down||1 1/2||at||378 3/4|
|Sept||down||1 1/2||at||395 3/4|
|Dec||down||1 1/4||at||402 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Corn closed slightly lower after firming late in the session. However, talk about plantings reaching 90 million acres will keep pressure on the market. There is a little over 6 million acres less wheat this year and much of that could end up in corn with new crop futures holding near $4.
Wheat futures gapped lower, again today. We planted the smallest winter wheat crop in nearly 100 years, but demand is so poor, the market didn’t need any more wheat. Inability to hold this level could see a move toward the July contract low of $4.83 ¾ .
Cotton & Rice Date: January 20, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 84 at 6680|
|Greenwood down 84 at 6680|
|New York Futures:||Mar||down||84||at||7080|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton slid lower as March followed through on yesterday’s penetration of trendline support near 72 cents. This suggests a possible move to downside objectives near 70 and then 68 cents. Prospects of increased 2010 plantings is pushing new crop December lower. Today’s move suggests further weakness with possible test of support at 71.5 cents.
|Long Grain Cash Bid for||Jan/Feb||1219/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Sept||down||7 1/2||at||1362 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was sharply lower as China tightened credit which boosted the dollar and sent funds scrambling to the sidelines. The next chart support is near $13.50. New crop September held above $13.60. Upside potential will be limited until U.S. export sales increase. Last week’s report added a little rice to the production number but ending stocks were virtually unchanged as a result of increased export projections.
Cattle & Hogs Date: January 20, 2010
As reported by Federal-State Market News, receipts were 1333 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold mostly firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||112.50||to||- - -|
|500||to||550 lbs.||103||to||- - -|
|600||to||650 lbs.||94||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||96.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||87.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||83.75||to||- - -|
Slaughter Cows, Boners 40 to 46.50
Light Weight 28 to 34
Bulls, Yield Grade 1 1400 to 2300 lbs. 56 to 62.50
Midwest Steers n/a at - - - to - - -
Panhandle Steers n/a at - - - to - - -
|Oklahoma City Feeders
Cattle futures turned lower. A surge in the value of the dollar was seen as an obstacle for meat exports. Losses in hogs also carried over. Nearby February has resistance just above $88.
Peoria: were $1.50 higher to $2 lower at 39 to 40.50
St. Paul n/a at - - - to - - -
Hogs turned lower today. The market was technically oversold and is trading approximately $3.50 premium to cash prices, so a short-term correction was expected. A strong move in the dollar was seen as negative for pork exports.
Poultry Date: January 20, 2010
|New York:||Ex. Lg. 131-135; Lg. 129-133; Med. 100-104;|
|Chicago:||Ex. Lg. 115-123; Lg. 113-121; Med. 80-88;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand was mostly moderate with trading usually limited to regular commitments. Supplies of all sizes were adequate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.