(Jan) EAST AR: 919 to 933
(NC) Summ. 882 to 904
(Jan) MISS: 931 to 977 ; AR & White 916 to 930
(NC) Summ. 882 to 914
Ark. Processor Bids: (Jan) 925 to 936 (NC) 891 to 892
Memphis: (Jan) 968 to 969 (NC) 914 to 916
Riceland Foods: (Jan) Stuttgart 936 ; Pendleton 933 ; West Memphis 977
|Sept||up||4 3/4||at||946 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans turned a bit higher today, but March failed to challenge resistance at the top of yesterday’s chart gap at $9.62 ½. Last week’s 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 have no chart support above the summer/fall low at $8.88 now. 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 439 1/2 to 469 1/2;
|Bids to farmers at Local Elevators||465-477;|
|Chicago Futures:||Mar||up||2||at||499 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 664 to - - -;
|Bids to farmers at River Elevators||523-598;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 370 to 371;|
|New crop at Memphis 329 to 387;|
|Bids to farmers at River Elevators||345 to 366|
|Dec||up||2 3/4||at||405 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures also attempted to rebound a bit today, but buying interest was limited. 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 .
Corn was higher today as the market attempts to correct from oversold territory. 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.
Cotton & Rice Date: January 21, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 105 at 6785|
|Greenwood up 105 at 6785|
|New York Futures:||Mar||up||105||at||7185|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton also recovered a bit. March violated trendline support at 72 cents earlier this week. This suggests a possible move to downside objectives near 70 and then 68 cents. Prospects of increased 2010 plantings are pushing new crop December lower. December could possibly test support at 71.5 cents.
|Long Grain Cash Bid for||Jan/Feb||1288/cwt||to||- - -|
|- - -||- - -||to||- - -|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice recovered most of yesterday’s big losses. The market is oversold and due a correction. 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 21, 2010
As reported by Federal-State Market News, receipts were 3159 head at sales in Charlotte, Ratcliff and Green Forest. Compared with last week, feeder steers sold firm to $5 higher, heifers firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||115||to||- - -|
|500||to||550 lbs.||107.25||to||- - -|
|600||to||650 lbs.||101.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||105.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||92.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||87.75||to|
Slaughter Cows, Boners 40 to 46
Light Weight 30 to 36
Bulls, Yield Grade 1 1000 to 2100 lbs. 55 to 60
Midwest Steers were at 84 to 85
Panhandle Steers were at 85 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 $1.5 lower to $2 higher at 39 to 41
St. Paul n/a at - - - to - - -
Hogs were mostly lower again 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 21, 2010
|New York:||Ex. Lg. 136-140; Lg. 134-138; Med. 106-110;|
|Chicago:||Ex. Lg. 115-123; Lg. 113-121; Med. 80-88;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand approaching the weekend was fair to moderate. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.