(March) EAST AR: 875 to 915
(New Crop) Summ. 874 to 896
(March) MISS: 890 to 948 ; AR & White 875 to 885
(New Crop) Summ. 872 to 906
Ark. Processor Bids: (March) 887 to 892 (New Crop) 881 to 884
Memphis: (March) 950 to 960 (New Crop) 901 to 906
Riceland Foods: (March) Stuttgart 892 ; Pendleton 885 ; West Memphis 938
|July||up||15 1/4||at||952 3/4|
|Sept||up||14 1/4||at||935 3/4|
|Jan||up||11 3/4||at||935 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed higher with solid across-the-board gains. A weaker dollar and higher equities and crude oil provided a positive undercurrent for today’s trade. On the fundamental side the only positive was the threat of a strike by Argentine port workers. Otherwise the market is dealing with a huge South American crop versus strong world demand. Long term the market appears to have a downside bias. November has strong resistance just under $9.50.
Cash bid for March at Memphis 437 to 464;
|Bids to farmers at Local Elevators||440-462;|
|Chicago Futures:||May||up||7 3/4||at||487|
|July||up||7 3/4||at||499 3/4|
|Sept||up||8 1/4||at||515 3/4|
|Dec||up||7 3/4||at||542 3/4|
|March 2011||up||8 1/4||at||568|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 658 to - - -;
|Bids to farmers at River Elevators||495-570;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 361 3/4 to 363 3/4;|
|New Crop at Memphis 367 1/4 to - - -;|
|Bids to farmers at River Elevators||331 to 362|
|Chicago Futures:||May||up||3 1/2||at||366 3/4|
|Sept||up||3 1/2||at||387 1/4|
|Dec||up||3 3/4||at||396 3/4|
|March 2011||up||4||at||408 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was mostly higher today. The potential for flooding in the Red River Valley is providing some support, but favorable conditions across much of winter wheat country and large old-crop supplies are keeping a lid on prices. July is hovering just above the $4.84 contract low.
Corn firmed in today’s trade, and like soybeans was supported by positive outside markets. The Federal Reserve’s decision to keep interest rates at the current rate for the near future was also a positive factor. Long term corn will tend to have a downside bias, just like soybeans. September has resistance around $4.05 with support just above $3.75. A close outside this range would suggest further movement in the direction of the break out.
Cotton & Rice Date: March 16, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 108 at 7734|
|Greenwood up 108 at 7734|
|New York Futures:||May||up||108||at||8184|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed mixed with old crop gaining versus new crop. Strong demand in a tightening supply situation should keep the market firm. New crop has been able to maintain an upward bias, albeit gains have been small. Long term the market could work higher despite prospects of increased 2010 U.S. plantings. Improving economic conditions should keep demand good.
|Long Grain Cash Bid for||March/April||1175/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||up||12||at||1260 1/2|
|July||up||11 1/2||at||1290 1/2|
|Sept||up||13 1/2||at||1278 1/2|
|Nov||up||14 1/2||at||1293 1/2|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was firm again today. While the market hasn’t confirmed a bottom, it did close a small gap that was left last Friday. Fundamentals are generally to the negative side, buy may be mostly accounted for in recent declines. There is some thought that El Nino influences could reduce Southeast Asia’s production. The international market remains lackluster, and prospects of increased U.S. 2010 plantings is keeping pressure on the market. Initial new crop retracements for the September contract are $13.11 to $13.43.
Cattle & Hogs Date: March 16, 2010
As reported by Federal-State Market News, receipts were 1805 head at sales in Heber Springs & Ft. Smith. Compared with last week, feeder steers sold firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||128.50||to||- - -|
|500||to||550 lbs.||118.00||to||- - -|
|600||to||650 lbs.||110.50||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||113.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||101.25||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||98.50||to||- - -|
Slaughter Cows, Boners 46 to 52
Light Weight 30 to 34
Bulls, Yield Grade 1 1000 to 2100 lbs. 57 to 66
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
April live cattle futures are trading just under the new contract high set Monday. The trend is up, but the market has become overbought and a technical correction could come at any time.
Peoria: were $1 higher to $3 lower at 44 to 46
St. Paul - - - at - - - to - - -
Hogs continue to be pressured by 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 16, 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 for early week business. Supplies of all sizes were light to satisfy current trade needs. In the parts structure, movement was moderate to good. In production areas live supplies were moderate at mostly desirable weights.