(Jan) EAST AR: 889 to 901
(NC) Summ. 870 to 892
(Jan) MISS: 897 to 945 ; AR & White 882 to 892
(NC) Summ. 870 to 902
Ark. Processor Bids: (Jan) 902 to 904 (NC) 879 to 880
Memphis: (Jan) 948 3/4 to 949 3/4 (NC) 904 1/4 to - - -
Riceland Foods: (Jan/Feb) Stuttgart 904 ; Pendleton 901 ; West Memphis 945
|Chicago Futures:||Mar||up||2 3/4||at||931 3/4|
|Sept||up||4 1/2||at||929 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were steady to firm through the session and rallied slightly in the close. A big monthly crush and another strong export report provided good underlying support. However, even strong farmer holding has not been sufficient to put the market in a rebound mode. November managed to move back above the downtrend that was broken yesterday. The market will need a positive Friday close to get the trade thinking rebound.
Cash bid for January at Memphis 427 to 457;
|Bids to farmers at Local Elevators||453-465;|
|Chicago Futures:||Mar||up||3 1/4||at||487|
|July||up||3 1/4||at||512 3/4|
|Dec||up||2 1/4||at||554 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 646 to - - -;
|Bids to farmers at River Elevators||505-580;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 361 3/4 to - - -;|
|New crop at Memphis 318 1/2 to 376 1/2;|
|Bids to farmers at River Elevators||335 to 356|
|Chicago Futures:||Mar||up||3 1/2||at||361 3/4|
|May||up||3 1/2||at||372 3/4|
|Sept||up||3 1/2||at||388 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures followed corn and beans and inched higher. Upside potential remain limited despite six million aces less wheat being planted in the U.S. Large world stocks will keep the market competitive.
Corn, both old and new crop, rallied off support to close higher for the day. This is key support which if broken would signal further nearterm weakness. A good export report was a positive market influence.
Cotton & Rice Date: January 28, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 9 at 6514|
|Greenwood down 9 at 6514|
|New York Futures:||Mar||down||9||at||6914|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was mostly lower again today with March holding above 69 cents and December closing near 71 cents. Losses of another penny or more could be seen. The market is very nervous about world economic conditions and the Chinese government tightening of available credit. As long as that situation persists, it will be difficult to move cotton substantially higher. The market sees little need to bid cotton higher with the current declines being seen in corn and soybeans.
|Long Grain Cash Bid for||Jan/Feb||1290/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||Mar||down||10 1/2||at||1390|
|May||down||9 1/2||at||1419 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was lower again today as the market continues to look for fresh fundamentals. Indicated U.S. purchases for Haiti and an Iraq tender for 120,000 metric tonnes or more for March/April delivery have not boosted the market. However, it would be a boost if the U.S. can secure that tender. Otherwise, the international market is steady and fairly quiet. An offer of Thai intervention stocks has been virtually ignored as price offered was well above other Asian offerings. Recent futures movement should have established the low end of the trading range for the time being.
Cattle & Hogs Date: January 28, 2010
As reported by Federal-State Market News, receipts were 2069 head at sales in Charlotte, Ratcliff & Green Forest. Compared with last week, feeder steers sold steady to $3 lower, heifers steady to $2 higher .
|Medium & Large Frame 1||400||to||450 lbs.||115.50||to||- - -|
|500||to||550 lbs.||105.25||to||- - -|
|600||to||650 lbs.||98.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||103.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||92.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||90||to||- - -|
Slaughter Cows, Boners 40 to 47
Light Weight 32 to 37
Bulls, Yield Grade 1 1000 to 2100 lbs. 53.50 to 58.50
Midwest Steers n/a at - - - to - - -
Panhandle Steers n/a at - - - to - - -
|Oklahoma City Feeders
After 3 down days, live cattle finally had a positive move. However, last week’s trade indicates a temporary top has been made and February could trade back near $84 before stabilizing.
Peoria: were steady at 39 to 41
St. Paul n/a at - - - to - - -
Hogs inched higher again today after testing uptrend support. That long-term uptrend in hog futures remains intact, but the market is looking toppy. Support for February is near $65.25 in the form of an up trendline drawn off the August low.
Poultry Date: January 28, 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 about steady to steady. Demand approaching the weekend was fair to moderate, best where features were planned or in progress. Supplies of all sizes were at least adequate to handle trade needs. In production areas live supplies were moderate at mostly desirable weights.