Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: February 1, 2011

Soybeans

Local Elevators:
(Feb) EAST AR:  1402 to 1438
(NC) Summ. 1328 to 1358
River Elevators:
(Feb) MISS: 1433 to 1448 ; AR & White 1406 to - - -
(NC) Summ. 1339 to 1374
Ark. Processor Bids: (Feb) 1418 to 1418  (NC) 1358 to 1358
Memphis:  (Feb) 1448 to - - - (NC)  1373 to - - -
Riceland Foods:  (Feb) Stuttgart 1418 ; Pendleton 1438 ; West Memphis 1448

Chicago Futures: Mar up 25 at  1438
  May  up  24 3/4  at  1448
  July up 24 1/2  at  1453
  Nov up 27  at  1368
  Jan '12 up 26 3/4  at  1370
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans led the move higher as outside markets, weather and the port strike in Argentina provided support. Soybeans have moved back near recent highs and appear ready to continue the ongoing trend. The soybean/corn price ratio is stable and this point seems to suggest slightly smaller soybean acreage in 2011. Continued strong exports and further tightening of stocks would indicate a need for additional acreage; so soybean price levels may have increase relative to corn and cotton to get necessary acreage.

Wheat
Cash bid for February at Memphis  840 3/4 to 845 3/4;
Bids to farmers at Local Elevators 826-833;
River Elevators 826-862;

Chicago Futures: Mar down  at  835 3/4 
  May down 4 1/2  at  866 1/4 
  July down  3 1/2  at  886 
  Sept down  1/2  at  906 3/4 
  Dec up  3/4  at  920 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1127 to 1132;
Bids to farmers at River Elevators - - -;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for February at Memphis   653 to 660;
  New Crop at Memphis   618 to - - -;
Bids to farmers at River Elevators  651 to - - -

Chicago Futures: Mar up  6 1/2  at  666 
  May up  6 1/2  at  676 1/2 
  Sept up  6 3/4  at  633 
  Dec up  4 3/4  at  596 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were a bit lower. Concerns about whether or not unrest in Egypt will disrupt grain movement into that country caused some anxiety. The market is still trending higher as there has been no clear indication of a top.

Corn continued to firm in conjunction with soybeans. New crop December hit a new contract high and appears ready to move above $6. A smaller Argentine crop and the continuing port strike are positive price factors.



Cotton & Rice  Date: February 1, 2011


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 378 at  16572
  Greenwood up  378 at 16572

New York Futures: Mar up  378  at  17222 
  May up  382  at  16700 
 July up  323  at  15838 
 Oct up  302  at  13187 
 Dec up  203  at  11623 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was sharply higher early in the session. New crop December hit a new high of $1.17 before pulling back at midday. Strong demand and tight stocks could boost the market even higher, particularly new crop.

Rice
Long Grain Cash Bid for  Feb 1293/cwt  to  - - -
  - - - - - -  to  - - -

Chicago Futures: Mar up  42 1/2  at  1593 1/2 
 May up  43  at  1624 
 July up  34 1/2  at  1643 1/2 
 Sept up  31 1/2  at  1624 1/2 
 Nov up  24  at  1639 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was higher early in the session, but gains were trimmed at midday. Prospects of a big cut in the 2011 planted acreage have helped boost the market. The international market remains somewhat subdued and Asian offerings are at least $100 per tonne below the U.S. price.



Cattle & Hogs  Date: February 1, 2011

Cattle
As reported by Federal-State Market News, receipts were 1,569 head at sales in Heber Springs and Fort Smith.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 139.00 to - - -
  500 to 550 lbs. 131.00 to - - -
  600 to 650 lbs. 124.00 to - - -
 Medium & Large Frame 2   450 to 500 lbs. 128.75 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 116.25 to - - -
 Medium & Large Frame 2   500 to 550 lbs. 110.25 to - - -

Slaughter Cows, Boners 62.00   to   72.00
Light Weight 42.00 to 52.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   74.50   to   83.50
Midwest Steers   - - -   at   - - -   to   - - -
Panhandle Steers   - - -   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 136.00 to 144.00
  550 to 600 lbs. 133.00 to 138.50
Heifers 550 to 600 lbs. 118.50 to 128.00
  600 to 650 lbs. 115.00 to 121.00

Chicago Futures:
Live Cattle: April up 60 at 11465
  June down 2 at 11452
Feeders: April down 17 at 12890
  Aug down 7 at 12990

Cattle Comment
Cattle futures got a bump from the semiannual inventory report showing that tight supplies will continue. Strong packer margins indicate that there is some additional upside in cash values.

Hogs
Peoria: were     steady   at   52.00   to   54.00

Chicago Futures: April down 85 at 9315
  June down 42 at 10052

Hogs Comment
Hog futures took a breather today on profit taking after strong gains yesterday.



Poultry  Date: February 1, 2011

Eggs
New York:  Ex. Lg. 111-115; Lg. 109-113; Med. 100-104;
Chicago:  Ex. Lg. 103-111; Lg. 101-109; Med. 92-100;

National Turkeys
Hens: 8-16 lbs 87.04
Toms: 16-24 lbs 87.08
 

Delmarva Broilers
U.S. Grade A
Whole broilers and fryers prices are steady to at times weak. Supplies of all sizes are moderate to heavy. Early week demand is light with trading mostly limited to regular commitments. Market activity is slow. In production areas, live supplies are moderate at mixed weights.