(Feb) EAST AR: 1330 to 1366
(NC) Summ. 1290 to 1320
(Feb) MISS: 1368 to 1376 ; AR & White 1334 to 1365
(NC) Summ. 1297 to 1336
Ark. Processor Bids: (Feb) 1346 to 1346 (NC) 1318 to 1320
Memphis: (Feb) 1380 1/2 to 1382 1/2 (NC) 1331 1/2 to 1334 1/2
Riceland Foods: (Feb) Stuttgart 1346 ; Pendleton 1366 ; West Memphis 1376
|Chicago Futures:||Mar||up||47 1/4||at||1365 1/2|
|Nov||up||43 1/4||at||1329 1/2|
|Jan '12||up||43 1/4||at||1333 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans moved sharply higher today, suggesting the market has established a wide trading range. While the market hasn’t confirmed a short term low, it appears to have found substantial support which for November is near $12.70. Good export movement has current sales near 90 percent of USDA’s projection for the year. With over half of the year remaining, exports may still exceed projections. Tightening stocks are a known factor, but it makes any bobble with this year’s crop important. That could be delayed planting, drought, flooding, etc.
Cash bid for February at Memphis 788 1/2 to 792 1/2;
|Bids to farmers at Local Elevators||781-788;|
|Chicago Futures:||Mar||up||29 1/4||at||776 1/2|
|May||up||28 3/4||at||811 1/4|
|Sept||up||25 1/4||at||870 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for February at Memphis 1191 to 1196;
|Bids to farmers at River Elevators||1146-1207;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||February at Memphis 720 to - - -;|
|New Crop at Memphis 631 to 641;|
|Bids to farmers at River Elevators||684 to 701|
|Chicago Futures:||Mar||up||26 1/4||at||712|
|Dec||up||18 3/4||at||601 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted big gains today as did corn and beans. There has been concern that turmoil in Northern Africa could impact wheat exports. There was no indication of that, however, in this week’s report. USDA reported that 40.9 million bushels were sold for export last week. The U.S. winter crop remains under stress and that is also providing support.
Corn led today’s rally trading near the daily limit early in the session. Fundamentals remain unchanged, except for a positive export report. It appears the downturn has become a buying opportunity for commercials and users. Many buyers appear to be extending coverage of needs. Seed sales suggest acreage intentions may be as high as projected. This and any weather related crop problem will tend to keep the market on alert.
Cotton & Rice Date: February 25, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 7.00 at 180.73|
|Greenwood up 7.00 at 180.73|
|New York Futures:||Mar||up||1006||at||19134|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton moved sharply higher staying in lock step with corn and soybeans. Tight stocks and good demand will continue to limit downside movement until this year’s planted acreage is known. Early projection suggests 12.5 to 13 million acres will be planted in 2011. However, extended dry conditions in Texas and areas of the South may limit production, keeping stocks tight. New crop December may be in position to retest resistance at the recent high.
|Long Grain Cash Bid for||Feb||1145/cwt||to||- - -|
|Chicago Futures:||Mar||up||47 1/2||at||1395 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures followed grains higher as yesterday’s late rebound was extended in today’s session. New crop September appears to have established good support around $14. Much smaller plantings are expected in 2011. Dry conditions and low surface water in many reservoirs could limit acreage if the condition persists. However, large stocks will remain a negative factor.
Cattle & Hogs Date: February 25, 2011
As reported by Federal-State Market News, receipts were 9,082 head at sales in Arkansas this week. Compared with last week, feeder steers calves sold steady .
|Medium & Large Frame 1||400||to||450 lbs.||156.50||to||- - -|
|500||to||550 lbs.||144.25||to||- - -|
|600||to||650 lbs.||137.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||141.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||131.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||122.50||to||- - -|
Slaughter Cows, Boners 60.00 to 69.00
Light Weight 42.00 to 48.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 80.00 to 85.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were higher across the board. Seasonal factors suggest price levels should remain firm. However, negative packer margins may give the market a reason to trim the premium of futures to cash, particularly if economic concerns continue.
Peoria: were steady at 54.00 to 56.00
Hog futures ended higher. April futures should have good support around $89. Wholesale pork is rising on tightening hog supplies, but large frozen stocks are an offsetting factor.
Poultry Date: February 25, 2011
|New York:||Ex. Lg. 101-105; Lg. 99-103; Med. 88-92;|
|Chicago:||Ex. Lg. 103-111; Lg. 101-109; Med. 90-98;|
U.S. Grade A
Prices are trending steady to firm for whole broiler/fryers. Offerings are light to moderate for current trade needs. Demand entering the weekend is moderate to at times good. Market activity is moderate to active. In production areas, live supplies are moderate. Weights are mixed but mostly desirable.