(March) EAST AR: 892 to 932
(New Crop) Summ. 890 to 912
(March) MISS: 907 to 964 ; AR & White 892 to 902
(New Crop) Summ. 887 to 922
Ark. Processor Bids: (March) 904 to - - - (New Crop) 897 to 900
Memphis: (March) 966 3/4 to 973 3/4 (New Crop) 922 to 927
Riceland Foods: (March) Stuttgart 904 ; Pendleton 895 ; West Memphis 955
|Chicago Futures:||May||up||2 1/4||at||961 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed slightly higher despite mostly negative fundamentals. Several private forecasts indicated 2010 plantings would increase. In addition, the dollar strengthened while equities and crude oil declined. November soybeans are in position to test resistance just below $9.50. Ability to close above this level would suggest further near term gains and should be viewed as a pricing opportunity.
Cash bid for March at Memphis 433 3/4 to 458 3/4;
|Bids to farmers at Local Elevators||437-459;|
|Chicago Futures:||May||down||5 1/2||at||483 3/4|
|July||down||5 1/4||at||496 1/2|
|Sept||down||5 3/4||at||511 1/2|
|March 2011||down||5 1/4||at||563 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 672 to - - -;
|Bids to farmers at River Elevators||507-582;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 370 1/2 to - - -;|
|New Crop at Memphis 374 to - - -;|
|Bids to farmers at River Elevators||339 to 371|
|Chicago Futures:||May||down||1 1/2||at||374 1/2|
|Dec||down||1 3/4||at||403 1/2|
|March 2011||down||1 3/4||at||414 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat was lower as the rising dollar again weighed on export possibilities. Spring wheat plantings are expected to increase from last year; but overall wheat acreage will be down more than 5 million acres. Upside potential remains limited.
Corn was a little lower at end of today’s session. Weak fundamentals, including one report projecting 2010 plantings over 90 million acres limited upside potential. Negative outside markets added to the weaker market undertone. These were partially offset by growing concern about flooding and weather problems in the Midwest.
Cotton & Rice Date: March 19, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 3 at 7768|
|Greenwood down 3 at 7768|
|New York Futures:||May||down||3||at||8218|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was a little lower to end the week. Improving world and U. S. economic conditions bode well for cotton in the long run. Tightening stocks suggest upside potential despite prospects of larger plantings in 2010. December should test the 78.25 cents high at some point.
|Long Grain Cash Bid for||March/April||1185/cwt||to||- - -|
|- - -||- - -||to||- - -|
|- - -||- - -||at||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice closed higher on the nearby contracts despite mostly negative outside markets. The international markets remain some what subdued, but activity could be picking up soon. Upside potential could be limited until this year's crop is planted and there is a better feel about U.S. and world production.
Cattle & Hogs Date: March 19, 2010
As reported by Federal-State Market News, receipts were 13,528 head at sales in Arkansas this week.. Compared with last week, feeder steers sold firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||130.00||to||- - -|
|500||to||550 lbs.||120.00||to||- - -|
|600||to||650 lbs.||111.00||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||116.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||108.00||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||101.00||to||- - -|
Slaughter Cows, Boners 48.00 to 55.00
Light Weight 34.00 to 42.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 55.00 to 65.00
Midwest Steers $2 to $3 higher at 95 to 96
Panhandle Steers - - - at 92 to 93
|Oklahoma City Feeders
Cattle futures closed mixed with nearby April slightly higher and other live cattle contracts lower. Feeders also closed higher with April above recent resistance and in position to perhaps test resistance at August ’08 high of $116.50. The market looks technically strong, but the market is overbought, so a correction could come at any time. There isn’t any technical resistance now for April below $100, and support begins at $96.75. Tight market-ready supplies and low market weights are providing support to the cash market.
Peoria: steady at 42 to 44
St. Paul - - - at - - - to - - -
Hogs were higher despite further declines in pork cutout values. Reports that China will reopen their market to U.S. pork provided support. 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 19, 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 at least steady. Demand entering the week was moderate to occasionally good. Supplies of all sizes were sufficient to satisfy current trade needs. In the parts structure, movement was moderate to good for late week business. In production areas live supplies were moderate at mostly desirable weights.