(March) EAST AR: 889 to 929
(New Crop) Summ. 889 to 911
(March) MISS: 904 to 962 ; AR & White 889 to 899
(New Crop) Summ. 885 to 921
Ark. Processor Bids: (March) 901 to 901 (NC) 896 to 899
Memphis: (March) 969 to 971 (New Crop) 920 1/2 to - - -
Riceland Foods: (March) Stuttgart 901 ; Pendleton 899 ; West Memphis 952
|Nov||up||14 1/2||at||940 1/2|
|Jan||up||14 1/4||at||949 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans added to yesterday’s move as outside markets continued to offer support. A weaker dollar and stronger oil and equities gave the market a boost. Wet conditions, including flooding in some areas, is raising concern about another later crop. Upside potential appears limited with November resistance just below $9.50. Today’s move did break a down trend which should bring a test of that resistance. Tomorrow’s export shipments report will be a key factor in determining whether the upturn continues.
Cash bid for March at Memphis 446 to 473;
|Bids to farmers at Local Elevators||449-471;|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 671 to - - -;
|Bids to farmers at River Elevators||507-582;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 369 to 370;|
|New Crop at Memphis 374 3/4 to - - -;|
|Bids to farmers at River Elevators||338 to 369|
|Chicago Futures:||May||up||7 1/4||at||374|
|Sept||up||7 1/2||at||394 3/4|
|March 2011||up||6 3/4||at||415|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted surprising gains with little fundamental justification for the move. 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.
Corn made good gains despite increasing ethanol stocks, which have reduced profit margins. Like soybeans, upside potential appears limited. Rebounds to $4.00 or better by the September contract should be viewed as a pricing opportunity.
Cotton & Rice Date: March 17, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 67 at 7667|
|Greenwood down 67 at 7667|
|New York Futures:||May||down||67||at||8117|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was mostly lower as the market retraced a portion of recent gains. 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||1177/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||up||1 1/2||at||1262|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were mixed as the market failed to generate any substantial follow-through on recent gains. Fundamentals are generally to the negative side, but 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 17, 2010
As reported by Federal-State Market News, receipts were 1045 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold steady .
|Medium & Large Frame 1||400||to||450 lbs.||124.50||to||- - -|
|500||to||550 lbs.||113.50||to||- - -|
|600||to||650 lbs.||104.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||107.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||97.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||93||to||- - -|
Slaughter Cows, Boners 46 to 51
Light Weight 31 to 37
Bulls, Yield Grade 1 1400 to 2300 lbs. 57 to 68
Midwest Steers - - - at 92 to 93
Panhandle Steers - - - at 92 to 93
|Oklahoma City Feeders
April live cattle futures set a new contract high again today. The market looks technically strong, but the market is overbought, so a correction could come at any time. Strong cash fundamentals continue to be supportive.
Peoria: were $1 higher to $3 lower at 43 to 45
St. Paul - - - at - - - to - - -
Hogs ended mixed. Some weakness in the cash market weighed on futures, while carryover strength from the cattle pits was supportive. 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 17, 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 mid week trading. Supplies of all sizes were light to moderate 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.