(Jan) EAST AR: 906 to 920
(NC) Summ. 874 to 896
(Jan) MISS: 915 to 964 ; AR & White 900 to 910
(NC) Summ. 873 to 906
Ark. Processor Bids: (Jan) 911 to 923 (NC) 883 to 884
Memphis: (Jan) 951 1/2 to 954 1/2 (NC) 907 1/2 to - - -
Riceland Foods: (Jan) Stuttgart 923 ; Pendleton 920 ; West Memphis 964
|Chicago Futures:||Mar||down||11||at||940 1/2|
|May||down||9 3/4||at||949 1/2|
|July||down||8 1/2||at||956 1/4|
|Nov||down||7 3/4||at||925 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were pushed lower again today as excellent weather conditions in South America have increased some estimates of that crop. Reports indicate good early yields in Brazil despite increased Asian rust. Some estimates suggest production of 68 million metric tonnes. This compares with the recent USDA estimate of 65. The previous record in 2008 was 61 mmt. Nevertheless, the crop will be a big one and could send the market even lower. Today’s close below last week’s low is technically negative and brings the summer low at $8.88 into play. New crop November could be driven to $8.78 and then possibly $8.40. Informa has 2010 U.S. soybean plantings at 79.9 million acres.
Cash bid for January at Memphis 438 1/4 to 468 1/4;
|Bids to farmers at Local Elevators||464-476;|
|Chicago Futures:||Mar||down||1/4||at||498 1/4|
|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 365 3/4 to - - -;|
|New crop at Memphis 324 1/2 to 382 1/2;|
|Bids to farmers at River Elevators||341 to 362|
|Chicago Futures:||Mar||up||3||at||367 3/4|
|May||up||3 1/4||at||378 3/4|
|Sept||up||2 3/4||at||394 1/2|
|Dec||up||2 1/2||at||399 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat ended the session slightly lower, after trimming early gains. Technically, wheat is oversold and due a rebound, but poor demand probably points to further declines. Any rebound will be limited and short lived, unless last week’s export sales become the norm instead of the exception.
Corn managed small gains as the market consolidates just above last week’s low of $3.62 ¼ . A close below that level brings the March contract low of $3.15 ½ back into the mix. Informa projects U.S. 2010 plantings of 89.65 million acres up 3.2 million from last year. Coupled with big projected ending stocks, it limits upside potential.
Cotton & Rice Date: January 25, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 111 at 6596|
|Greenwood down 111 at 6596|
|New York Futures:||Mar||down||111||at||6996|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton continued a downturn which carried old crop March below 70 cents and pushed December near the 71.5 cents level. Overall, world economic conditions remain a factor in a market that appears to have upside potential, particularly from current price levels. The current sell off could push March to 68 cents before we see a rebound, while December could drop as low as 70 cents.
|Long Grain Cash Bid for||Jan/Feb||1311/cwt||to||- - -|
|- - -||- - -||to||- - -|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were lower as the market failed to continue the upturn of the last two sessions last week. Those two days of gains took the market out of the oversold condition technically and leaves the trade looking at fundamentals. Longer term, the market will need to see more export sales and continued demand to hold current levels and provide an opportunity for the market to work higher.
Cattle & Hogs Date: January 25, 2010
As reported by Federal-State Market News, receipts were 3331 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold mostly weak to $3 lower, heifers staeady to $2 higher .
|Medium & Large Frame 1||400||to||450 lbs.||113||to||- - -|
|500||to||550 lbs.||105||to||- - -|
|600||to||650 lbs.||97.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||105.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||91.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||88.50||to||- - -|
Slaughter Cows, Boners 41 to 47
Light Weight 32 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 54 to 60
Midwest Steers were $1 lower to $1.50 higher at 84 to 86.50
Panhandle Steers were steady at 86 to - - -
|Oklahoma City Feeders
Cattle futures declined despite remaining in a short term uptrend. Last week’s trade indicates a temporary top has been made and February could trade back near $84 before stabilizing. Wholesale beef appears to be retracing gains that carried to a seven month high.
Peoria: were steady at 39 to 41
St. Paul n/a at - - - to - - -
Hog futures were weak and closed lower. Cash markets were down as much as a dollar as most plants had immediate needs covered.
Poultry Date: January 25, 2010
|New York:||Ex. Lg. 136-140; Lg. 134-138; Med. 106-110;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 98-106;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand following the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.