(March) EAST AR: 898 to 938
(New Crop) Summ. 884 to 906
(March) MISS: 913 to 970 ; AR & White 898 to 908
(New Crop) Summ. 881 to 916
Ark. Processor Bids: (March) 903 to 910 (New Crop) 891 to 894
Memphis: (March) 976 to - - - (New Crop) 921 to - - -
Riceland Foods: (March) Stuttgart 910 ; Pendleton 901 ; West Memphis 961
|July||down||1 1/4||at||975 1/2|
|Sept||down||6 1/4||at||951 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed lower with the greatest pressure on new crop. Clearing Midwest weather and reduced concern about widespread flooding added to downside pressure. New crop November again failed to move through key resistance at $9.50. For the time being trade appears to be locked in a 50¢ range. Long term it appears the current price ratio between corn and beans could pull acreage to beans. USDA will release their survey results next week.
Cash bid for March at Memphis 426 3/4 to 450 3/4;
|Bids to farmers at Local Elevators||429-451;|
|Chicago Futures:||May||down||9 3/4||at||476 3/4|
|July||down||9 3/4||at||489 1/4|
|Sept||down||8 3/4||at||505 1/4|
|Dec||down||6 1/2||at||534 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 644 to - - -;
|Bids to farmers at River Elevators||496-571;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 360 3/4 to 362 3/4;|
|New Crop at Memphis 362 3/4 to - - -;|
|Bids to farmers at River Elevators||328 to 360|
|Chicago Futures:||May||down||8||at||362 3/4|
|Sept||down||7 1/4||at||382 3/4|
|March 2011||down||6 3/4||at||403 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat turned lower today, giving back all of yesterday’s gains and then some. July is holding just above support at the October low of $4.86 for the time being. The upside appears limited without major crop problems.
Corn was pushed sharply lower with today’s trade leaving the market just recent key support; $3.60 for May and $3.76 for September. Because of the big carryover of corn the market will tend to pressure any weather premium in corn more than soybeans. Prospects of plantings of 88 to 90 million acres will put additional pressure on the market.
Cotton & Rice Date: March 23, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 40 at 7839|
|Greenwood up 40 at 7839|
|New York Futures:||May||up||40||at||8289|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was higher again today as new crop December continues in a consolidation pattern based around 75¢. There is little fresh fundamental news and the market is working off the improving world and U. S. economic conditions which 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||1189/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||down||8 1/2||at||1274 1/2|
|March 2011||down||4||at||1350 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice was unable to sustain yesterday’s upturn and gave back a good portion of those gains today. There are few fresh fundamentals to give the market direction. 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 23, 2010
As reported by Federal-State Market News, receipts were 522 head at sales in Heber Springs and Ft. Smith. Compared with last week, feeder steers sold steady to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||128.50||to||- - -|
|500||to||550 lbs.||113.75||to||- - -|
|600||to||650 lbs.||107.50||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||106.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||101.00||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||97.75||to||- - -|
Slaughter Cows, Boners 48 to 55
Light Weight 35 to 39
Bulls, Yield Grade 1 1000 to 2100 lbs. 64 to 69
Midwest Steers were $1 lower at 96 to - - -
Panhandle Steers $1 to $2 lower at 96 to - - -
|Oklahoma City Feeders
Cattle futures gapped lower today. Open interest in the cattle pits has been record large over the past three weeks, meaning that the funds have largely been driving this market. The market was overbought and due a correction. Strong cash fundamentals should limit the downside, however.
Peoria: 50¢ higher to $2 lower at 42 to 44
St. Paul - - - at - - - to - - -
Hogs were pulled lower by carryover weakness from the cattle pit. Strong exports have kept this market strong, and with cutouts still valued 25% higher than a year ago, that is expected to continue.
Poultry Date: March 23, 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 steady. Demand was seasonally fair to moderate. Supplies of all sizes were light to moderate 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.