(Jan) EAST AR: 1364 to 14.00
(NC) Summ. 1286 to 1316
(Jan) MISS: 1392 to 1410 ; AR & White 1367 to 1389
(NC) Summ. 1295 to 1332
Ark. Processor Bids: (Jan) 1380 to 1380 (NC) 1316 to 1316
Memphis: (Jan) 1402 1/2 to - - - (NC) 1325 1/2 to - - -
Riceland Foods: (Jan) Stuttgart 1380 ; Pendleton 1400 ; West Memphis 1410
|Chicago Futures:||Mar||up||14||at||1399 1/2|
|July||up||12 3/4||at||1415 3/4|
|Nov||up||1 3/4||at||1325 1/2|
|Jan '12||up||1 3/4||at||1328|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended the day with good gains supported by excellent export numbers and larger than expected crush figures for December. The latest export report put sales a hundred million bushels ahead of last year’s record pace. Sales are now over 86 percent of USDA projections, less than five months into the marketing year. Knowing that stocks will be very tight, these use figures suggest there has been little contraction yet.
Cash bid for January at Memphis 846 1/4 to - - -;
|Bids to farmers at Local Elevators||835-842;|
|Chicago Futures:||Mar||down||10 1/4||at||846 1/4|
|July||down||6 3/4||at||894 1/2|
|Sept||down||4 3/4||at||912 1/4|
|Dec||down||4 1/4||at||923 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1100 to 1105;
|Bids to farmers at River Elevators||1050-1111;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 638 3/4 to 642 3/4;|
|NC at Memphis 602 3/4 to - - -;|
|Bids to farmers at River Elevators||615 to 636|
|Chicago Futures:||Mar||down||7||at||650 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat closed lower as July failed to hold above $9 for the second day in a row. However, wheat has the strongest looking technical position of all the grains. Tight quality stocks are a strong supporting factor.
Corn closed lower as export numbers are weaker than expected, suggesting price is beginning to ration tight supplies. March futures have been unable to penetrate resistance near $6.65, and are in a sideways pattern that has persisted for the last two weeks. December has yet to move above resistance around $5.93.
Cotton & Rice Date: January 27, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 256 at 16289|
|Greenwood up 256 at 16289|
|New York Futures:||Mar||up||256||at||16939|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton continued an unprecedented upward move. March traded to just under $1.73, another record level, while December is just below Tuesday’s high of $1.14. Strong Chinese demand and tight world stocks are major factors. 2011 plantings in the United States and the world could relieve the stocks situation. Certainly, lower priced synthetics will be utilized as blends increase. Charts offer little perspective on upside potential as funds remain a significant player.
|Long Grain Cash Bid for||Jan||1237/cwt||to||- - -|
|April/May||1222/cwt||to||- - -|
|Chicago Futures:||Mar||down||11||at||1508 1/2|
|July||down||9 1/2||at||1564 1/2|
|Nov||down||5 1/2||at||1573 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were slightly lower today. However, futures don’t seem to reflect the realities of the market as basis continues at wide levels and U.S. milled values are a $100 to $125 above Asian offerings. U.S. mills need to make new sales or some could have to operate at reduced levels.
Cattle & Hogs Date: January 27, 2011
As reported by Federal-State Market News, receipts were 2,928 head at sales in Charlotte, Ratcliff and Green Forest. Compared with last week, feeder steers sold steady to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||153.75||to||- - -|
|500||to||550 lbs.||143.25||to||- - -|
|600||to||650 lbs.||124.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||130.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||123.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||117.50||to||- - -|
Slaughter Cows, Boners 58.00 to 65.00
Light Weight 41.00 to 50.00
Bulls, Yield Grade 1-2 1000 to 2100 lbs. 68.00 to 78.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were mostly lower as the supply of market-ready animals remains fairly large. On the other hand, strong packer margins suggest bids could improve if necessary despite some weakness in wholesale beef.
Peoria: were $1 lower to $1.50 higher at 50.00 to 52.00
Hogs were mixed with only the nearby February closing higher. Strong pork export prospects remain a supportive factor. Summer futures are approaching record levels with June near $100. A June close above $100 would give an upside objective another $5 or $6 higher. A close below $96 would give an equal downside objective.
Poultry Date: January 27, 2011
|New York:||Ex. Lg. 111-115; Lg. 109-113; Med. 100-104;|
|Chicago:||Ex. Lg. 99-107; Lg. 97-105; Med. 87-95;|
U.S. Grade A
Whole broilers and fryers prices are weak. Supplies are moderate to heavy. Demand approaching the weekend is light with limited trading. Market activity is slow. Market activity for parts is slow to moderate. In production areas, live supplies are moderate; weights are mixed and noted as desirable to heavy.