(Jan) EAST AR: 1362 to 1398
(NC) Summ. 1283 to 1313
(Jan) MISS: 1390 to 1408 ; AR & White 1365 to 1387
(NC) Summ. 1292 to 1329
Ark. Processor Bids: (Jan) 1378 to 1378 (NC) 1313 to 1313
Memphis: (Jan) 1403 to 1404 (NC) 1328 to - - -
Riceland Foods: (Jan) Stuttgart 1378 ; Pendleton 1398 ; West Memphis 1408
|Chicago Futures:||Mar||down||1 1/2||at||1398|
|May||down||1 3/4||at||1408 1/4|
|July||down||2 1/4||at||1413 1/2|
|Jan '12||down||2 1/2||at||1325 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans opened higher but reversed gains to close lower. There wasn’t really any bullish news to spark the morning’s rally. Beneficial rains fell in Argentina this week, which added a bit of pressure to the market. Big crops elsewhere, though, don’t seem to be having a big impact on U.S. exports yet. 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. Last week’s contract high is resistance.
Cash bid for January at Memphis 825 3/4 to - - -;
|Bids to farmers at Local Elevators||815-822;|
|Chicago Futures:||Mar||down||20 1/2||at||825 3/4|
|May||down||19 1/2||at||855 1/2|
|July||down||19 3/4||at||874 3/4|
|Sept||down||18 1/2||at||893 3/4|
|Dec||down||17 1/4||at||906 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for January at Memphis 1088 to 1093;
|Bids to farmers at River Elevators||1038-1098;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||January at Memphis 632 to 634;|
|New Crop at Memphis 595 3/4 to 596 3/4;|
|Bids to farmers at River Elevators||608 to 629|
|Chicago Futures:||Mar||down||6 3/4||at||644|
|May||down||6 1/2||at||654 1/2|
|Dec||down||6 1/4||at||576 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat closed lower again today. Tight quality stocks are a strong supporting factor. A big snowstorm heading for the Plains will bring beneficial moisture to the crop there and protect the wheat from bitter temperatures, adding pressure to the market today.
Corn was lower again today. The weekly export report was disappointing, 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 28, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 464 at 15825|
|Greenwood down 464 at 15825|
|New York Futures:||Mar||down||464||at||16475|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton posted big losses today after moving to record-high levels yesterday. 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||1231/cwt||to||- - -|
|April/May||1222/cwt||to||- - -|
|Chicago Futures:||Mar||down||7 1/2||at||1501|
|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 28, 2011
As reported by Federal-State Market News, receipts were 11,742 head at sales in Arkansas this week. Compared with last week, feeder steers sold firm to $3 higher .
|Medium & Large Frame 1||400||to||450 lbs.||149.00||to||- - -|
|500||to||550 lbs.||138.50||to||- - -|
|600||to||650 lbs.||122.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||133.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||120.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||118.00||to||- - -|
Slaughter Cows, Boners 61.00 to 68.00
Light Weight 42.00 to 50.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 70.00 to 80.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures ended the day higher, mostly on carryover strength from the hog pit. Strong packer margins suggest bids could improve if necessary despite some weakness in wholesale beef.
Peoria: were steady at 50.00 to 52.00
Hogs were up sharply today. 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 28, 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
Prices are trending weak for whole broilers and fryers. Supplies of all sizes are moderate to heavy for current trade needs. Demand entering the weekend is light. Market activity is slow. In production areas, live supplies are moderate; weights are mixed and noted as desirable to heavy.