Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: February 16, 2010

Soybeans

Local Elevators:
(Feb) EAST AR:  912 to 931
(NC) Summ. 889 to 911
River Elevators:
(Feb) MISS: 927 to 975 ; AR & White 912 to 922
(NC) Summ. 886 to 921
Ark. Processor Bids: (Feb) 921 to 932  (NC) 896 to 899
Memphis:  (Feb) 955 1/2 to 982 1/2 (NC)  921 to 926
Riceland Foods:  (Feb) Stuttgart 932 ; Pendleton 911 ; West Memphis 968

Chicago Futures: Mar up 20 1/2 at  965 1/2
  May  up  20 1/2  at  974 1/2
  July up 21  at  981 3/4
  Sept up 19  at  956 1/2
  Nov up 19  at  941
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed with gains up to 20 cents with a strong boost from oil and equity markets. A weak dollar was also a factor as the Euro soared on indications Greece would resolve its debt problem. March and November tested resistance. Both could be set for further gains.

Wheat
Cash bid for February at Memphis  445 to 483;
Bids to farmers at Local Elevators 476-484;
River Elevators 476-507;

Chicago Futures: Mar up  18 1/2  at  505 
  May up 18 1/4  at  519 1/2 
  July up  18 1/4  at  532 1/4 
  Sept up  18 3/4  at  548 1/4 
  Dec up  17 3/4  at  572 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  645 to - - -;
Bids to farmers at River Elevators 514-589;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for February at Memphis   374 1/4 to 379 1/4;
  New crop at Memphis   326 3/4 to 384 3/4;
Bids to farmers at River Elevators  341 to 369

Chicago Futures: Mar up  5 3/4  at  367 1/4 
  May up  5 3/4  at  379 
  Sept up  5 1/2  at  396 3/4 
  Dec up  5 1/2  at  402 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was sharply higher despite big world stocks and slow export demand. March moved above resistance at $5 while July topped last week's high just above $5.25. Today's move suggests further short term gains.

Corn also firmed on outside market support, but was not as strong as beans and wheat. Corn tested recent resistance and needs follow through tomorrow.



Cotton & Rice  Date: February 16, 2010


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 135 at  7176
  Greenwood up  135 at 7176

New York Futures: Mar up  95  at  7534 
  May up  135  at  7626 
 July up  111  at  7662 
 Oct up  30  at  7401 
 Dec up  11  at  7313 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued to move higher with old crop/new crop spreads widening. That reflects tightening old crop stocks and concern about projected acreage increases in 2010.

Rice
Long Grain Cash Bid for  Feb 1316/cwt  to  - - -
  - - - - - -  to  - - -

Chicago Futures: Mar down  10  at  1416 
 May down  10 1/2  at  1448 1/2 
 July down  10  at  1474 
 Sept down  2 1/2  at  1362 1/2 
 - - -   - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was the only major crop that couldn't muster a positive move, closing as much as 10 cents lower. Prospects of increased U.S. 2010 plantings are weighing on the market.



Cattle & Hogs  Date: February 16, 2010

Cattle
As reported by Federal-State Market News, receipts were 80 head at sales in Ash Flat, Ola, Springdale, Fort Smith and Marshall.  Compared with last week, feeder steers were $2 to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 114.75 to - - -
  500 to 550 lbs. 108.75 to - - -
  600 to 650 lbs. 103 to - - -
 Medium & Large Frame 2   450 to 500 lbs. 102 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 93.75 to - - -
 Medium & Large Frame 2   500 to 550 lbs. 87.75 to - - -

Slaughter Cows, Boners 47.50   to   53.50
Light Weight 34 to 40
Bulls, Yield Grade   1   1000   to   2100 lbs.   60   to   66
Midwest Steers   were steady to $1 lower   at   88   to   89
Panhandle Steers   were steady to $1.50 lower   at   88   to   89

Oklahoma City Feeders
Steers 500 to 550 lbs. 117 to 124.50
  550 to 600 lbs. 110.25 to 119.75
Heifers 500 to 550 lbs. 101 to 102.75
  550 to 600 lbs. 98.75 to 101.50

Chicago Futures:
Live Cattle: April up 140 at 9217
  June up 142 at 8997
Feeders: Mar up 137 at 10112
  May up 127 at 10315

Cattle Comment
Live cattle and feeder futures made big gains helped by last week's stronger cash market. A weaker dollar and stronger outside markets were also supportive factors.

Hogs
Peoria: were steady to $4     higher   at   44   to   46

Chicago Futures: April up 7 at 6827
  June up 17 at 7822

Sheep
St. Paul n/a   at   - - -   to   - - -

Hogs Comment
Hogs moved up on fund buying but gains were limited by the premium of futures to cash. Concerns about pork demand and Russia's continued ban on most U.S. pork also limited upside.



Poultry  Date: February 16, 2010

Eggs
New York:  Ex. Lg. 109-113; Lg. 107-111; Med. 95-99;
Chicago:  Ex. Lg. 100-108; Lg. 98-106; Med. 86-94;

Eastern Region Turkeys
Hens: 8-16 lbs. 77.50
Toms: 16-24 lbs. 77.50
 

Delmarva Broilers
U.S. Grade A
The market tone was fully steady to firm. Demand following the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were light to moderate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.