(March) EAST AR: 873 to 913
(New Crop) Summ. 861 to 883
(March) MISS: 923 to 944 ; AR & White 872 to 882
(New Crop) Summ. 858 to 893
Ark. Processor Bids: (March) 878 to 885 (New Crop) 868 to 871
Memphis: (March) 952 1/2 to 954 1/2 (New Crop) 898 to - - -
Riceland Foods: (March) Stuttgart 885 ; Pendleton 876 ; West Memphis 936
|Chicago Futures:||May||down||17 1/2||at||942 1/2|
|Sept||down||16 1/4||at||925 1/2|
|Jan||down||14 1/4||at||921 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans stabilized on a positive export report which indicated steady sales and good shipments last week. The market remains in a 50¢ trading range ahead of next week’s planting intentions and stocks report. Projected tight ending stocks is keeping old crop firm relative to new crop. November has resistance at $9.50 and support around $9.00. A close to either side of this range would indicate further movement in the direction of the breakout. A big South American crop and expected larger U.S. plantings in 2010 potentially will weigh on the market.
Cash bid for March at Memphis 416 1/2 to 441 1/2;
|Bids to farmers at Local Elevators||420-442;|
|Chicago Futures:||May||down||9 1/2||at||466 1/2|
|July||down||9 1/4||at||479 1/2|
|Sept||down||8 3/4||at||495 1/2|
|March 2011||down||7 3/4||at||549 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 630 to - - -;
|Bids to farmers at River Elevators||482-541;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 355 to 357;|
|New Crop at Memphis 355 to - - -;|
|Bids to farmers at River Elevators||321 to 350|
|Dec||down||9 1/4||at||384 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat moved sharply lower. Uninspiring export sales and shipments this week helped add to the overall negative undertone as yet more evidence that the world just doesn’t need more wheat at this point. The upside appears limited without major crop problems.
Corn remains under pressure with poor ethanol returns beginning to weigh on the major bright spot in this market. Projected big ending stocks and probable increased 2010 plantings are negative factors. September futures have remained in a 30¢ plus trading range for the last 10 weeks. A close above $4.09 or below $3.76 would indicate further movement in the direction of the breakout.
Cotton & Rice Date: March 25, 2010
|Spot Price, Grade 41 Staple 34:||Memphis down 123 at 7568|
|Greenwood down 123 at 7568|
|New York Futures:||May||down||123||at||8018|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton appears to be in a wait-and-see mode ahead of next week’s report. Economic problems in Europe are creating potential export problems as the dollar reached 9 month highs yesterday. 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||1160/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||down||22 1/2||at||1245|
|July||down||21 1/2||at||1275 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice has been unable to generate much upward momentum as the market struggles with a slumping Asian market. 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 25, 2010
As reported by Federal-State Market News, receipts were 2,413 head at sales in Charlotte, Ratcliff and Green Forest. Compared with last week, feeder steers sold steady to $2 higher .
|Medium & Large Frame 1||400||to||450 lbs.||132.00||to||- - -|
|500||to||550 lbs.||122.00||to||- - -|
|600||to||650 lbs.||115.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||121.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||106.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||100.00||to||- - -|
Slaughter Cows, Boners 46 to 54
Light Weight 34 to 41
Bulls, Yield Grade 1-2 1000 to 2100 lbs. 57 to 67
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Additional technical selling pulled cattle futures lower in early dealings. 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 steady at 42 to 44
St. Paul - - - at - - - to - - -
Hogs gapped lower again today. Cash fundamentals should help support the market at this time of year, but it is looking like too much optimism was built into futures at these price levels. This afternoon’s inventory report is expected to show only a 1% decline in the market hog inventory, meaning demand will have to be strong in order for the market to handle all those hogs at current price levels.
Poultry Date: March 25, 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 about steady. Demand was seasonally fair to moderate approaching the weekend. 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.