(March) EAST AR: 899 to 939
(New Crop) Summ. 894 to 916
(March) MISS: 913 to 970 ; AR & White 898 to 908
(New Crop) Summ. 891 to 926
Ark. Processor Bids: (March) 904 to 911 (New Crop) 901 to 904
Memphis: (March) 968 1/2 to 976 1/2 (New Crop) 925 3/4 to 930 3/4
Riceland Foods: (March) Stuttgart 908 ; Pendleton 899 ; West Memphis 959
|Chicago Futures:||May||up||6 3/4||at||968 1/2|
|July||up||7 1/4||at||976 3/4|
|Sept||up||5 1/2||at||957 1/2|
|Nov||up||3 3/4||at||945 3/4|
|Jan||up||3 1/2||at||953 3/4|
|Today's Arkansas LDP rate for soybeans is:||0 ¢|
Soybeans moved higher again today mostly on technical buying. Weekly export inspections were a respectable 32.1 million bushels. Rains in Brazil are delaying the harvest there, also a supportive factor today. The November contract is now testing resistance in the $9.50 area. A close above this level would suggest further near term gains and should be viewed as a pricing opportunity.
Cash bid for March at Memphis 436 1/2 to 461 1/2;
|Bids to farmers at Local Elevators||439-461;|
|Chicago Futures:||May||up||2 3/4||at||486 1/2|
|Dec||up||2 3/4||at||540 3/4|
|March 2011||up||2 1/2||at||566|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 666 to - - -;
|Bids to farmers at River Elevators||502-577;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 367 3/4 to - - -;|
|New Crop at Memphis 370 to - - -;|
|Bids to farmers at River Elevators||336 to 368|
|Chicago Futures:||May||down||3 3/4||at||370 3/4|
|Dec||down||4 1/4||at||399 1/4|
|March 2011||down||4 1/2||at||410|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat moved higher following soybeans. 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 couldn’t build any upward momentum on carryover strength, and closed lower. Weak fundamentals, including one report projecting 2010 plantings over 90 million acres limited upside potential.
Cotton & Rice Date: March 22, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 31 at 7799|
|Greenwood up 31 at 7799|
|New York Futures:||May||up||31||at||8249|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed a bit higher. 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||1198/cwt||to||- - -|
|- - -||- - -||to||- - -|
|March 2011||up||2 1/2||at||1354 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice moved higher with old crop leading the way. 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 22, 2010
As reported by Federal-State Market News, receipts were 2347 head at sales in Springdale and Ola. Compared with last week, feeder steers sold $3 to $7 higher .
|Medium & Large Frame 1||400||to||450 lbs.||131.25||to||- - -|
|500||to||550 lbs.||122.75||to||- - -|
|600||to||650 lbs.||115.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||121.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||104.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||105.25||to||- - -|
Slaughter Cows, Boners 49 to 55
Light Weight 34 to 42
Bulls, Yield Grade 1 1000 to 2100 lbs. 56 to 68
Midwest Steers were $1 to $2 higher at 97.00 to - - -
Panhandle Steers were $6 to $4 higher at 97 to 98
|Oklahoma City Feeders
Cattle futures posted losses across the board. 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: $2 higher to 50¢ lower at 43.50 to 44.00
St. Paul - - - at - - - to - - -
Hogs ended mixed. April has resistance at the January high of $74.25. Strength in the product market and now the cash hog market are keeping hog futures in an uptrend.
Poultry Date: March 22, 2010
|New York:||Ex. Lg. 141-145; Lg. 139-143; Med. 114-118;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 104-112;|
Eastern Region Turkeys
U.S. Grade A
The market tone was mostly steady. Demand following the weekend was moderate. Supplies of all sizes were sufficient 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.