(March) EAST AR: 898 to 938
(New Crop) Summ. 874 to 896
(March) MISS: 912 to 971 ; AR & White 897 to 907
(New Crop) Summ. 870 to 906
Ark. Processor Bids: (March) 903 to 910 (New Crop) 881 to 884
Memphis: (March) 977 1/2 to - - - (New Crop) 910 1/2 to - - -
Riceland Foods: (March) Stuttgart 910 ; Pendleton 901 ; West Memphis 961
|Chicago Futures:||May||up||15 1/2||at||967 1/2|
|July||up||14 3/4||at||974 1/2|
|Sept||up||9 1/2||at||941 1/2|
|Nov||up||7 1/2||at||925 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybean prices posted strong gains today. Continued concern over availability of South American soybeans continues to provide support for soybean prices. Labor strikes and wet weather have slowed the availability of this year’s crop. One thing to watch for will be if those supplies get backed up to the point they compete with U.S. exports this fall. Weakening dollar as well as higher crude oil prices added additional support to today’s prices. The trade continues to be anxious for Wednesday’s planting intentions and stocks report. While many feel soybean acres will be up around 1 million acres, strong crush and export numbers through February should lead to even tighter stocks. Soybean prices face resistance at $9.50 and have support at $9.15 and $9.00.
Cash bid for March at Memphis 414 3/4 to 439 3/4;
|Bids to farmers at Local Elevators||418-440;|
|Chicago Futures:||May||unchanged||at||464 3/4|
|March 2011||up||1/2||at||548 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 634 to - - -;
|Bids to farmers at River Elevators||486-561;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 357 to 359;|
|New Crop at Memphis 357 1/4 to - - -;|
|Bids to farmers at River Elevators||324 to 354|
|March 2011||up||1 1/4||at||397 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat prices closed the day up slightly. The market continues to hope for new export demand to help relieve some of the excess stocks. Wheat prices continue to remain weak, with little new fundamental or technical news to support higher prices.
Corn prices closed the day with modest gains. Corn never could take advantage of the higher oil prices and weaker dollars; this news simply helped corn maintain current prices. Weaker than expected hog numbers in Friday’s hog report means there will be fewer hogs to feed in coming months. Combine this with our weak U.S. exports and the demand situation for corn does not look so good. Additionally, 2010 corn acres are expected to come in just under 90 million acres, up 2.5 to 3 million acres from 2009.
Cotton & Rice Date: March 29, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 74 at 7593|
|Greenwood up 74 at 7593|
|New York Futures:||May||up||74||at||8043|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton prices closed the day up, regaining most of Friday’s losses. A weak dollar remains supportive for cotton prices. We will finally get our first “official” look at the 2010 crop on Wednesday when the USDA releases the planting intentions report. Recent strengthening in cotton prices relative to other crops should support higher cotton acres. Most trade estimates are for 1 to 1.5 million acre increase to a 16 million bale crop.
|Long Grain Cash Bid for||March/April||1152/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||down||8 1/2||at||1237 1/2|
|Nov||down||7 1/2||at||1267 1/2|
|March 2011||down||11 1/2||at||1322 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice closed the day lower. Today’s weaker dollar was not enough to help U.S. rice exports. The market continues to look for Wednesday’s stock report and planting intentions report to 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. September continues to close just below this level but has given no indication of another major downturn.
Cattle & Hogs Date: March 29, 2010
As reported by Federal-State Market News, receipts were 2745 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold near steady .
|Medium & Large Frame 1||400||to||450 lbs.||132.25||to||- - -|
|500||to||550 lbs.||119.50||to||- - -|
|600||to||650 lbs.||114.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||118.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||108.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||105.75||to||- - -|
Slaughter Cows, Boners 48 to 55
Light Weight 35 to 44
Bulls, Yield Grade 1 1000 to 2100 lbs. 61 to 68
Midwest Steers were at 96.00 to 97.00
Panhandle Steers were at 95.50 to 97.00
|Oklahoma City Feeders
Cattle prices posted strong gains today. Cattle received an extra boost today from limit up hog prices. However, cattle prices continue to find support in strengthening exports and stronger cutout values.
Peoria: were steady at 42 to 44
St. Paul - - - at - - - to - - -
Hog prices closed up the limit today. Friday’s hog report added some much needed support to the market. The 3% decline in inventory and 4% decline in sows were significantly more than the market expected.
Poultry Date: March 29, 2010
|New York:||Ex. Lg. 136-140; Lg. 134-138; Med. 109-113;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 104-112;|
Eastern Region Turkeys
U.S. Grade A
The market tone was barely steady to instances weak. Demand following the weekend was light with trading usually limited to regular commitments. Supplies of sizes were at least adequate to fully 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.