(March) EAST AR: 871 to 911
(New Crop) Summ. 866 to 888
(March) MISS: 886 to 945 ; AR & White 871 to 881
(New Crop) Summ. 864 to 898
Ark. Processor Bids: (March) 876 to 883 (New Crop) 873 to 876
Memphis: (March) 941 to 943 (New Crop) 903 to - - -
Riceland Foods: (March) Stuttgart 883 ; Pendleton 874 ; West Memphis 934
|Jan||down||8 1/4||at||926 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans were sharply lower with old crop under the greatest pressure. Stocks at 1.27 billion bushels were 70 million above trade expectations. Seemingly not a lot, but when added to projected ending stocks it raises concern, especially with sales switching to South America. Record plantings of 78.1 million acres are projected, but that was only 650,000 acres over 2009, and less than expected. Old crop futures were pushed toward the bottom of the recent trading range and could test support at $9.22 and $9.11. November futures recouped a portion of the early decline, but remains shaky with recent support at $8.99 appearing vulnerable.
Cash bid for March at Memphis 400 1/2 to 425 1/2;
|Bids to farmers at Local Elevators||404-426;|
|Chicago Futures:||May||down||21 1/2||at||450 1/2|
|March 2011||down||20 1/2||at||535 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 611 to - - -;
|Bids to farmers at River Elevators||464-539;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 349 to 350;|
|New Crop at Memphis 346 to - - -;|
|Bids to farmers at River Elevators||312 to 342|
|Chicago Futures:||May||down||9 1/2||at||345|
|Dec||down||7 1/2||at||376 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat charted a new leg down today in reaction to the report. USDA found an additional 600,000 acres of winter wheat seedings. The stocks report wasn’t as bad as feared, but still 1.352 billion bushels, meaning the market is dealing with a big oversupply problem. 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 hit hard by stocks of 7.69 billion bushels, almost 200 million bushels above trade expectations. That could be enough to push ending stocks above 2 billion bushels. In addition, USDA projected 2010 plantings would be 2.3 million acres above last year. That was less than expected but enough to pressure futures toward fall lows; for September that was $3.44.
Cotton & Rice Date: March 31, 2010
|Spot Price, Grade 41 Staple 34:||Memphis up 101 at 7605|
|Greenwood up 101 at 7605|
|New York Futures:||May||up||101||at||8055|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton weathered lower grains and a 15% increase in projected plantings to close higher across the board. Old crop contracts were the strongest, but December moved back near 75¢. U.S. acreage was projected at 10.51 million acres with big increases in Texas, North Carolina, Alabama, Georgia and California. Arkansas was projected unchanged and along with Louisiana and Kansas were the only states not increasing acreage in 2010.
|Long Grain Cash Bid for||March/April||1136/cwt||to||- - -|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||down||36||at||1221 1/2|
|March 2011||down||42 1/2||at||1301|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice acreage and stocks were up from year ago levels. USDA projected 2010 plantings at 3.41 million acres, a 9% increase. In Arkansas plantings were up 10% at 1.63 million acres. Of that, 1.43 million was long grain. At 200,000 acres medium grain plantings in Arkansas were projected 11% lower. Nationwide, medium grain was down 1% with California up 7%. Combined with bigger stocks and continued weakness in Asia, the market was sharply down. September fell to $12.26 and could be headed toward weekly chart support at $11.80 or perhaps lower.
Cattle & Hogs Date: March 31, 2010
As reported by Federal-State Market News, receipts were 985 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold firm to $5 higher .
|Medium & Large Frame 1||400||to||450 lbs.||127.00||to||- - -|
|500||to||550 lbs.||117.50||to||- - -|
|- - -||to||- - - lbs.||- - -||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||113.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||102.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||100.50||to||- - -|
Slaughter Cows, Boners 48 to 56
Light Weight 36 to 40
Bulls, Yield Grade 1 1400 to 2300 lbs. 64.00 to 70.50
Midwest Steers were at 94 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
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.
Peoria: were $3 higher to $1 lower at 43 to 45
St. Paul - - - at - - - to - - -
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 31, 2010
|New York:||Ex. Lg. 122-126; Lg. 120-124; Med. 95-99;|
|Chicago:||Ex. Lg. 129-137; Lg. 127-135; Med. 104-112;|
Eastern Region Turkeys
U.S. Grade A
The market tone was weak. Demand was seasonally light with limited trading for mid week business. Supplies of all sizes were moderate to heavy to satisfy current trade needs. In the parts structure, movement was moderate. In production areas, live supplies were moderate at mostly desirable weights.