(March) EAST AR: 860 to 900
(New Crop) Summ. 862 to 884
(March) MISS: 877 to 935 ; AR & White 862 to 872
(New Crop) Summ. 860 to 894
Ark. Processor Bids: (March) 872 to 877 (New Crop) 869 to 872
Memphis: (March) 935 to 945 (New Crop) 889 to 894
Riceland Foods: (March) Stuttgart 877 ; Pendleton 870 ; West Memphis 923
|Chicago Futures:||May||up||4 1/2||at||930|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were under early pressure from weaker crude oil and a stronger dollar. A better-than-expected NOPA crush report gave old crop contracts a boost. The undertone of the market is somewhat negative. The market could still have a seasonal rally during planting time, especially if planting delays are seen.
Cash bid for March at Memphis 429 1/4 to 456 1/4;
|Bids to farmers at Local Elevators||432-454;|
|Chicago Futures:||May||down||6||at||479 1/4|
|Sept||down||6 1/2||at||507 1/2|
|March 2011||down||5||at||559 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 645 to - - -;
|Bids to farmers at River Elevators||488-563;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 359 1/4 to 360 1/4;|
|New Crop at Memphis 363 3/4 to - - -;|
|Bids to farmers at River Elevators||327 to 358|
|Chicago Futures:||May||down||1||at||363 1/4|
|March 2011||down||3/4||at||404 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat turned lower. July is hovering just above the $4.84 contract low. Downside appears limited, but there is not much upside potential with big world supplies weighing on the market.
Corn was fractionally to a penny lower. Big stocks and the possibility of increased U.S. plantings in 2010 will limit upside potential. Technically a September close below $3.76 would be extremely negative.
Cotton & Rice Date: March 15, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 29 at 76.26|
|Greenwood up 29 at 76.26|
|New York Futures:||May||up||29||at||8076|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was mixed. USDA made a smaller than expected downward adjustment in China’s production estimate last week. USDA knocked 500,000 bales off their estimate, while China’s estimate was lowered 3 million bales last week. USDA did increase domestic use 100,000 bales, dropping projected ending stocks at 3.2 million bales. In the long-term new crop December could test resistance at 78.25 cents.
|Long Grain Cash Bid for||March/April||1163/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||up||5 1/2||at||1248 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice turned higher, but the trend is still down. USDA lowered long grain exports 1 million cwt. In addition, world production was increased 4 million metric tonnes. A big portion of that was in India, where production was raised 2.5 mmt. That is likely a factor in India’s decision to not import rice, at least to this point. Further weakness is probable with the next chart support at $11.75
Cattle & Hogs Date: March 15, 2010
As reported by Federal-State Market News, receipts were 2899 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold $3 to $6 higher .
|Medium & Large Frame 1||400||to||450 lbs.||128.00||to||- - -|
|500||to||550 lbs.||115.25||to||- - -|
|600||to||650 lbs.||108.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||116.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||102.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||103.50||to||- - -|
Slaughter Cows, Boners 47.00 to 53.00
Light Weight 32.00 to 41.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 56.00 to 65.00
Midwest Steers were at 90.00 to 94.00
Panhandle Steers were at 93.00 to 95.00
|Oklahoma City Feeders
Cattle futures were mostly higher. Expected seasonal demand will limit downside movement. April live cattle have support around $93.25. April feeders have support at $104.
Peoria: were higher at $1 to $3 lower
St. Paul - - - at - - - to - - -
Hogs were under pressure from lower cash hog and wholesale pork prices. Seasonally, the market tends to move higher and this year’s smaller pork production estimate suggests a tighter supply situation near term.
Poultry Date: March 15, 2010
|New York:||Ex. Lg. 141-145; Lg. 139-143; Med. 114-118;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 106-114;|
Eastern Region Turkeys
U.S. Grade A
The market tone was firm. Demand was moderate to fairly good following the weekend. Supplies of all sizes were light to satisfy current trade needs. In the parts structure, movement was moderate to good for early week business. In production areas live supplies were moderate at mostly desirable weights.