Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: March 30, 2010

Soybeans

Local Elevators:
(March) EAST AR:  904 to 944
(New Crop) Summ. 875 to 897
River Elevators:
(March) MISS: 919 to 978 ; AR & White 904 to 914
(New Crop) Summ. 871 to 907
Ark. Processor Bids: (March) 909 to 916  (New Crop) 882 to 885
Memphis:  (March) 974 to 976 (New Crop)  911 1/2 to - - -
Riceland Foods:  (March) Stuttgart 916 ; Pendleton 907 ; West Memphis 967

Chicago Futures: May up 6 1/2 at  974
  July  up  6 1/4  at  980 3/4
  Sept up at  943 1/2
  Nov up at  926 1/2
  Jan up at  934 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed mixed with new crop contracts slightly lower. Tomorrow's reports are expected to be mixed with stocks positive and planting intentions leaning to the negative. This year's plantings are expected to be up by a million or more acres. That will simply add to what is expected to be a huge South American crop. Improving weather in Brazil pressure the market today, while a port strike in Argentina was supportive.

Wheat
Cash bid for March at Memphis  422 to 447;
Bids to farmers at Local Elevators 425-447;
River Elevators 441-475;

Chicago Futures: May up  7 1/4  at  472 
  July up 7 1/4  at  485 1/4 
  Sept up  7 1/2  at  501 1/2 
  Dec up  7 1/2  at  529 3/4 
  March 2011 up  7 3/4  at  556 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  629 to - - -;
Bids to farmers at River Elevators 480-555;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for March at Memphis   358 1/2 to 359 1/2;
  New Crop at Memphis   354 3/4 to - - -;
Bids to farmers at River Elevators  321 to 351

Chicago Futures: May down  2 1/2  at  354 1/2 
  Sept down  2 1/2  at  374 3/4 
  Dec down  2 3/4  at  383 3/4 
  March 2011 down  2 3/4  at  395 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat prices posted gains again today. The market continues to hope for new export demand to help relieve some of the excess stocks. Funds continue to drive the wheat market. Wheat is approaching the point of being oversold, which should help prices rebound in the near term. However, fundamentals remain weak and prices will have difficulty maintaining any kind of rally.

Corn was a little lower as the market marked time ahead of the USDA reports. Corn stocks and planting intentions are both expected to be negative. Long term, prospects of big stocks and another big 2010 crop is likely to keep pressure on price. Declining ethanol margins will add to the negative outlook.



Cotton & Rice  Date: March 30, 2010


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 89 at  7504
  Greenwood down  89 at 7504

New York Futures: May down  89  at  7954 
  July down  82  at  8082 
 Oct down  57  at  7557 
 Dec down  47  at  7457 
 March 2011 down  36  at  7609 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was pushed lower ahead of what is expected to be bigger plantings in 2010. Most pre report expectations indicate an increase of 10 to 15 per cent or up to 1.5 million more acres. Long term that shouldn't be a problem as U. S. and world stocks are tightening. Improving economic conditions would be positive for cotton. December futures should trade above the recent high just above 78 cents.

Rice
Long Grain Cash Bid for  March/April 1172/cwt  to  - - -
  - - - - - -  to  - - -

Chicago Futures: May up  20  at  1257 1/2 
 July up  20 1/2  at  1288 1/2 
 Sept up  19 1/2  at  1270 1/2 
 Nov up  16 1/2  at  1284 
 March 2011 up  21  at  1343 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice made a strong rebound ahead of tomorrow's reports despite prospects of a substantial increase in 2010 plantings. Today's move may be a signal the market has bottomed. However, a weak undertone in the Asian market will likely limit upside potential.



Cattle & Hogs  Date: March 30, 2010

Cattle
As reported by Federal-State Market News, receipts were 1175 head at sales in Heber Springs and Fort Smith.  Compared with last week, feeder steers sold firm to $8 higher, mostly $3 to $7 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 132.00 to - - -
  500 to 550 lbs. 123.25 to - - -
  600 to 650 lbs. 117.00 to - - -
 Medium & Large Frame 2   450 to 500 lbs. 118.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 112.00 to - - -
 Medium & Large Frame 2   500 to 550 lbs. 104.75 to - - -

Slaughter Cows, Boners 50   to   55
Light Weight 30 to 34
Bulls, Yield Grade   1   1000   to   2100 lbs.   64.50   to   71.50
Midwest Steers   - - -   at   - - -   to   - - -
Panhandle Steers   - - -   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 126.00 to 134.00
  550 to 600 lbs. 120.50 to 130.50
Heifers 500 to 550 lbs. 108.50 to 116.25
  550 to 600 lbs. 107.00 to 114.50

Chicago Futures:
Live Cattle: April up 67 at 9605
  June up 27 at 9317
Feeders: April up 35 at 10872
  May up 107 at 11097

Cattle Comment
Cattle prices posted gains again today. Cattle continue to receive an extra boost from hog prices. Tight supplies should help maintain higher prices going forward.

Hogs
Peoria: were     steady   at   42.00   to   44.00

Chicago Futures: April up 117 at 7305
  May up 130 at 8085

Sheep
St. Paul - - -   at   - - -   to   - - -

Hogs Comment
Hog prices continue to move higher today. Friday’s hog report continues to add some much needed support. The 3% decline in inventory and 4% decline in sows were significantly more than the market expected.



Poultry  Date: March 30, 2010

Eggs
New York:  Ex. Lg. 129-133; Lg. 127-131; Med. 102-106;
Chicago:  Ex. Lg. 129-137; Lg. 127-135; Med. 104-112;

Eastern Region Turkeys
Hens: 8-16 lbs 83
Toms: 16-24 lbs 85
 

Delmarva Broilers
U.S. Grade A
The market tone was weak. Demand was seasonally light with limited trading. Supplies of all sizes were more than sufficient to satisfy current trade needs. In the parts structure, movement was moderate for early week trading. In production areas, live supplies were moderate at mostly desirable weights.