(Mar) EAST AR: 901 to 934
(NC) Summ. 887 to 909
(Mar) MISS: 910 to 963 ; AR & White 895 to 905
(NC) Summ. 884 to 919
Ark. Processor Bids: (Mar) 909 to 921 (NC) 894 to 897
Memphis: (Mar) 963 1/2 to 973 1/2 (NC) 918 3/4 to - - -
Riceland Foods: (Mar) Stuttgart 921 ; Pendleton 914 ; West Memphis 957
|Chicago Futures:||May||up||1||at||963 1/2|
|Nov||down||3 3/4||at||938 3/4|
|Jan||down||3 3/4||at||947 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended mixed. Early support came from outside markets. It appears the market has accounted for the big South American crop, at least for the time being. Long term, that big crop and the potential for another big U.S. acreage could be enough to push the market lower. Crop planting problems could allow farmers another pricing opportunity, although upside would appear to be limited.
Cash bid for March at Memphis 449 1/2 to 478 1/2;
|Bids to farmers at Local Elevators||457-479;|
|Chicago Futures:||May||unchanged||0||at||504 1/2|
|Mar 2011||up||1/4||at||578 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 669 to - - -;
|Bids to farmers at River Elevators||545-595;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 378 1/2 to - - -;|
|New Crop at Memphis 380 to 383;|
|Bids to farmers at River Elevators||348 to 377|
|Chicago Futures:||May||down||1/4||at||381 1/2|
|Mar 2011||up||1/2||at||417 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was unchanged to fractionally mixed. A very competitive export situation and large world supplies continue to hamper upside potential.
Corn was fractionally mixed, failing to follow through on yesterday’s big losses. Demand for corn remains a mixed bag. Strong domestic use, both feed and ethanol, seems to be offsetting a weak export trade. Strong ethanol use was anticipated, but poor quality seems to be resulting in greater quantities being used to meet needs. While we are not there yet planting delays could be seen for the third year in a row. Be prepared to use rallies over the next 90 days as pricing opportunities.
Cotton & Rice Date: March 2, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 0.06 at 79.10|
|Greenwood up 0.06 at 79.10|
|New York Futures:||May||down||144||at||8185|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton continues to work higher as export demand improves. Old crop contracts have moved well above 80 cents and some reports suggest a dollar per pound could be seen. Larger U.S. plantings are tempering new crop with a move to the mid 70’s in recent days. The recent December high of 78.25 cents may be stiff resistance, but any crop delays this year could put the market at higher levels.
|Long Grain Cash Bid for||Mar/Apr||1281/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||down||18 1/2||at||1366 1/2|
|Sept||down||19 1/2||at||1324 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice gave back yesterday’s gains. A weaker undertone in the international market and prospects of increased 2010 U.S. plantings are weighing on the market. Futures remain in a down trend but could make a rebound and retrace a portion of recent declines ahead of planting time.
Cattle & Hogs Date: March 2, 2010
As reported by Federal-State Market News, receipts were 987 head at sales in Ft. Smith. Compared with last week, feeder steers were $2 to $4 higher .
|Medium & Large Frame 1||400||to||450 lbs.||120.50||to||- - -|
|500||to||550 lbs.||118||to||- - -|
|600||to||650 lbs.||104.50||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||109.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||101.50||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||95||to||- - -|
Slaughter Cows, Boners 50 to 54.50
Light Weight untested to - - -
Bulls, Yield Grade 1 1000 to 2100 lbs. 60 to 64.50
Midwest Steers were $2 higher to $4 lower at 89 to 90
Panhandle Steers were $1 lower to $3 lower at 89 to 90
|Oklahoma City Feeders
Cattle futures posted gains. Longer term fewer cattle on feed should keep the market firm. Strength in the product market is also a plus.
Peoria: were steady at 46 to 48
St. Paul - - - at - - - to - - -
Hogs turned lower today. The market was overbought and due a correction. Strong cash fundamentals continue to provide support.
Poultry Date: March 2, 2010
|New York:||Ex. Lg. 118-122; Lg. 116-120; Med. 99-103;|
|Chicago:||Ex. Lg. 102-110; Lg. 100-108; Med. 89-97;|
Eastern Region Turkeys
U.S. Grade A
The market tone was steady. Retail and food service demand was fair to moderate with limited trading. Supplies of all sizes were sufficient to satisfy current trade requirements. In production areas live supplies were moderate at mostly desirable weights.