(Mar) EAST AR: 1320 to 1356
(NC) Summ. 1281 to 1311
(Mar) MISS: 1353 to 1366 ; AR & White 1324 to 1351
(NC) Summ. 1278 to 1327
Ark. Processor Bids: (Mar) 1336 to 1336 (NC) 1301 to 1311
Memphis: (Mar) 1370 1/2 to - - - (NC) 1311 to 1317
Riceland Foods: (Mar) Stuttgart 1336 ; Pendleton 1356 ; West Memphis 1366
|Chicago Futures:||May||up||6 1/2||at||1355 1/2|
|July||up||6 1/2||at||1363 3/4|
|Aug||up||6 1/2||at||1357 1/4|
|Jan '12||up||1 1/4||at||1325|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans firmed during today’s session. USDA made no changes in the U.S. supply demand numbers. However, they raised the production estimate for Brazil by 1.5 million metric tons to 70 million metric tons. Argentina was unchanged at 49.5 million metric tons. Both the USDA estimates are below other projections. Today’s rebound suggests soybeans will attempt to garner more acreage in 2011, as corn declined. Resistance is seen at $14.25 and $14.67 for November.
Cash bid for March at Memphis 725 1/2 to 727 1/2;
|Bids to farmers at Local Elevators||713-720;|
|Chicago Futures:||May||down||18 1/4||at||740 1/2|
|July||down||18 1/2||at||772 1/2|
|Sept||down||17 1/2||at||808 3/4|
|Dec||down||16 1/4||at||832 3/4|
|Mar '12||down||16 1/2||at||853 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1121 to 1141;
|Bids to farmers at River Elevators||1095-1155;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 668 3/4 to 672 3/4;|
|New Crop at Memphis 608 1/2 to 610 1/2;|
|Bids to farmers at River Elevators||653 to 683|
|Chicago Futures:||May||down||18 1/4||at||682 3/4|
|Sept||down||18 3/4||at||635 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures were under heavy selling pressure again today. Today’s report showed that USDA has more faith in the shipment total than in the export sales total at this point. They cut exports 25 million bushels and increased the carryout by the same amount, mostly in spring wheat. Larger production estimates for Australia and Argentina were probably a big reason for the change. July has support at $7.63 ½.
Like soybeans, corn numbers were unchanged in today’s report. Slower sales and growing comfort with this year’s probable plantings pressured the market. The sharp decline in December will likely allow for a retest of recent support just below $5.70. The market is likely to trade sideways between $5.70 and $6.20.
Cotton & Rice Date: March 10, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 3.93 at 195.98|
|Greenwood down 3.93 at 195.98|
|New York Futures:||May||down||343||at||20098|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton reversed yesterday’s move with old crop declining and new crop contracts higher today. Supply demand numbers were unchanged with both U.S. and world stocks projected to tighten by year’s end. Strong demand is expected to continue and cotton price should remain strong as the market attempts to coax additional acreage in 2011.
|Long Grain Cash Bid for||March||1055/cwt||to||- - -|
|Jan '12||down||50||at||1461 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were sharply lower in overnight trading and that didn’t change after this morning’s report. USDA moved one million hundredweight from rough to milled rice in the export column. Otherwise, the major change came in world use where USDA cut 5.28 million metric tons. That moved world stocks up almost 5 million metric tons to 98.78 million metric tons. Most of the adjustment was in India. Technically, May futures are headed lower with support around $12.72 and then a dollar lower. New crop September has support around $14 and then $13.50. Prospects of sharply reduced 2011 U.S. plantings may limit downside movement in new crop.
Cattle & Hogs Date: March 10, 2011
As reported by Federal-State Market News, receipts were 2,412 head at sales in Charlotte, Green Forest and Ratcliff. Compared with last week, feeder steers sold firm to $5 higher .
|Medium & Large Frame 1||350||to||400 lbs.||163.50||to||- - -|
|450||to||500 lbs.||151.00||to||- - -|
|500||to||550 lbs.||153.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||145.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||135.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||129.25||to||- - -|
Slaughter Cows, Boners 64.00 to 71.00
Light Weight 49.00 to 55.00
Bulls, Yield Grade 1-2 1000 to 2100 lbs. 75.00 to 85.50
Midwest Steers were $7 higher at 118.00 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures were mixed. The April contract set a historic-high for the nearby month for the second day in a row. May feeders have also moved to new contract highs and could test resistance at the $137.50 top of their current trading channel.
Peoria: were $1 lower to $3 higher at 55.50 to 57.50
April hogs are consolidating in a narrow range between $86 and $90. A move above that $90 level is needed to suggest an additional leg up.
Poultry Date: March 10, 2011
|New York:||Ex. Lg. 93-97; Lg. 91-95; Med. 84-88;|
|Chicago:||Ex. Lg. 85-93; Lg. 83-91; Med. 76-84;|
U.S. Grade A
Whole broiler and fryer prices continue to trend higher. Offerings of all sizes are light to moderate. Demand is moderate to good for late week business. Market activity is active. In production areas, live supplies are moderate. Weights are mostly desirable.