(Feb) EAST AR: 898 to 916
(NC) Summ. 889 to 911
(Feb) MISS: 908 to 961 ; AR & White 893 to 903
(NC) Summ. 886 to 921
Ark. Processor Bids: (Feb) 906 to 918 (NC) 896 to 899
Memphis: (Feb) 941 to 976 (NC) 921 to 926
Riceland Foods: (Feb) Stuttgart 918 ; Pendleton 911 ; West Memphis 954
|Chicago Futures:||Mar||up||9 1/2||at||951|
|Sept||up||11 1/2||at||951 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans recovered yesterday’s gains on carryover strength from wheat and corn. The overriding factor in this market is the size of the South American crop. U.S. exports have already slowed, and less than 20% of the crop has been harvested so far. Only 8.9 million bushels were sold to foreign buyers last week. November has resistance at the recent high of $9.45.
Cash bid for February at Memphis 464 1/4 to 495 1/2;
|Bids to farmers at Local Elevators||471-493;|
|Chicago Futures:||Mar||up||16 3/4||at||506 1/2|
|May||up||15 1/2||at||519 1/4|
|Dec||up||13 1/4||at||568 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 6.66 to - - -;
|Bids to farmers at River Elevators||534-609;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 390 to 392;|
|New Crop at Memphis 386 to 389;|
|Bids to farmers at River Elevators||357 to 385|
|Chicago Futures:||Mar||up||5 3/4||at||378|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat reversed yesterday’s losses and gapped higher today, primarily on short covering. July could test resistance at the recent high of $5.34. However, fundamentals remain negative and a weekly export total of only 15 million bushels for both old and new crop wheat was further evidence of that.
Corn gapped higher as well. There are questions about the quality of the 2009 crop and how well it will store. The market may be in a sideways mode until there is a better handle on domestic use. Overhead resistance begins at $3.84 ½ for March.
Cotton & Rice Date: February 26, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 129 at 7821|
|Greenwood up 129 at 7821|
|New York Futures:||Mar||up||123||at||8261|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton followed through on yesterday’s gains and ended the week on a positive note. Reports of a smaller crop in China gave the market a boost. Export sales slowed this week, but shipments hit a marketing year high. For the second day in a row, May set a new high for the up-move.
|Long Grain Cash Bid for||Feb||1253/cwt||to||- - -|
|- - -||- - -||to||- - -|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice followed other commodities higher. Upside potential could be limited near term. U.S. values have been pressured by a weaker world market undertone. March is building support at $13.20. A close below that level could suggest another leg down
Cattle & Hogs Date: February 26, 2010
As reported by Federal-State Market News, receipts were 12,335 head at sales in Arkansas this week. Compared with last week, feeder steers sold weak to $3 lower .
|Medium & Large Frame 1||400||to||450 lbs.||120||to||- - -|
|500||to||550 lbs.||112.75||to||- - -|
|600||to||650 lbs.||107.25||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||109.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||97.75||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||96.75||to||- - -|
Slaughter Cows, Boners 46 to 53
Light Weight 36 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 56 to 63
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were mostly higher. Expectations for demand to pick up into spring were supportive. A weaker dollar and higher crude were also supportive.
Peoria: were steady at 45 to 47
St. Paul NA at - - - to - - -
Hog futures are still trending higher. Tight hog supplies and recent gains in product values are providing support.
Poultry Date: February 26, 2010
|New York:||Ex. Lg. 114-118; Lg. 112-116; Med. 98-102;|
|Chicago:||Ex. Lg. 98-106; Lg. 96-104; Med. 86-94;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Demand entering the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were at least adequate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.