(March) EAST AR: 890 to 930
(New Crop) Summ. 875 to 897
(March) MISS: 905 to 962 ; AR & White 890 to 900
(New Crop) Summ. 872 to 907
Ark. Processor Bids: (March) 895 to 902 (New Crop) 882 to 885
Memphis: (March) 970 to - - - (New Crop) 912 1/4 to - - -
Riceland Foods: (March) Stuttgart 902 ; Pendleton 893 ; West Memphis 953
|Sept||down||9 1/2||at||941 3/4|
|Nov||down||8 3/4||at||927 1/4|
|Jan||down||8 1/2||at||935 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended the day lower with a stronger dollar and weaker oil and equities providing the driving force. Economic problems in Greece and Portugal boosted the dollar versus the euro. The dollar moved to its highest level in over 9 months triggering concern about export potential. Prospects of larger 2010 plantings and a big South American crop added to the negative undertone. Old crop held well above recent support at $9.15, where November ended the day near the middle of its 50¢ trading range.
Cash bid for March at Memphis 426 to 451;
|Bids to farmers at Local Elevators||429-451;|
|March 2011||down||2 3/4||at||557 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 648 to - - -;
|Bids to farmers at River Elevators||500-575;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 365 to 367;|
|New Crop at Memphis 365 to - - -;|
|Bids to farmers at River Elevators||330 to 362|
|Chicago Futures:||May||up||2 1/4||at||365|
|March 2011||up||1 3/4||at||405|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat ended fractionally lower after July set a new low for the move in early dealings. The upside appears limited without major crop problems thanks to plentiful U.S. and world stocks.
Corn reversed early losses after testing recent support at $3.59 for the May contract. Inability to hold this level would be bearish near term. The next support is around $3.27. Next week’s stock report should help answer the question of use. Some reports suggest use has increased because of the quality of the ’09 crop.
Cotton & Rice Date: March 24, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 148 at 7691|
|Greenwood down 148 at 7691|
|New York Futures:||May||down||148||at||8141|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton moved in a wide trading range with both new and old crop registering sharp declines. Strength in the dollar and weaker oil were negative factors which pushed December to the bottom of the recent consolidation area. While the market may experience further near term weakness, the long term outlook still has upside potential. Next week’s planting intentions are expected to show increases of 1 to 1.5 million acres, with potential production of 16 million bales or more.
|Long Grain Cash Bid for||March/April||1182/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||down||7||at||1267 1/2|
|Sept||down||2 1/2||at||1269 1/2|
|Nov||down||2 1/2||at||1286 1/2|
|March 2011||down||2 1/2||at||1348|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice followed the lead of soybeans and ended the session lower. There is little fresh fundamental news available to give the market direction. Next week’s stock report and planting intentions report will provide a look at use and expectations for U.S. production in 2010. Early estimates suggest a 5% or greater increase in the 2010 acreage. The recent break in rice futures may alter some earlier plans. Support is $12.40 and $12.60 respectfully for May and September contracts.
Cattle & Hogs Date: March 24, 2010
As reported by Federal-State Market News, receipts were 1115 head at sales in Conway and Pocahontas. Compared with last week, feeder steers were $1 to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||125.50||to||- - -|
|500||to||550 lbs.||116.25||to||- - -|
|600||to||650 lbs.||107.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||109.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||103.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||100.25||to||- - -|
Slaughter Cows, Boners 47 to 55
Light Weight 35 to 42
Bulls, Yield Grade 1 1400 to 2300 lbs. 61 to 68
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Additional technical selling pulled cattle futures lower in early dealings, but strong fundamentals resulted in a higher close. 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.
Peoria: were at steady at 42 to 44
St. Paul - - - at - - - to - - -
Hogs were weaker again today. Cutout values have dropped, reportedly because retailers have met their Easter needs and ham prices are dropping sharply.
Poultry Date: March 24, 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 for mid-week business. Supplies of all sizes were sufficient 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.