(Mar) EAST AR: 1299 to 1335
(NC) Summ. 1260 to 1290
(Mar) MISS: 1332 to 1345 ; AR & White 1303 to 1330
(NC) Summ. 1257 to 1306
Ark. Processor Bids: (Mar) 1315 to 1315 (NC) 1280 to 1290
Memphis: (Mar) 1349 1/2 to - - - (NC) 1290 to 1296
Riceland Foods: (Mar) Stuttgart 1315 ; Pendleton 1335 ; West Memphis 1345
|Chicago Futures:||May||down||21||at||1334 1/2|
|July||down||21 1/4||at||1342 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans retraced a portion of overnight declines, but still ended the day sharply lower. Last night’s big earthquake in Japan shook financial markets which in turn kept the recent downturn moving lower. November soybeans bounced off key support at $12.70, closing at $13. Ability to hold this level was important. Inability to hold here would send the market toward trendline support near $12.40, or perhaps support at $11.85.
Cash bid for March at Memphis 703 3/4 to 705 3/4;
|Bids to farmers at Local Elevators||691-698;|
|Chicago Futures:||May||down||21 3/4||at||718 3/4|
|July||down||21 3/4||at||750 3/4|
|Mar '12||down||19 3/4||at||833 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1088 to 1108;
|Bids to farmers at River Elevators||1061-1121;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 650 1/4 to 654 1/4;|
|New Crop at Memphis 595 3/4 to 597 3/4;|
|Bids to farmers at River Elevators||634 to 664|
|Chicago Futures:||May||down||18 1/2||at||664 1/4|
|July||down||18 1/4||at||670 3/4|
|Sept||down||12 3/4||at||622 3/4|
|Dec||down||9 1/2||at||577 3/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures were under heavy selling pressure again today. News of the severe earthquake and resulting tsunami in Japan sent both the stock market and the commodity markets into a selloff this morning. It has taken very little “real” bearish news to send this market into a tailspin, suggesting that futures prices were overinflated. A July close below $7.34 will suggest a retest of the key $7 level.
Corn declined, but closed well above overnight lows. December futures penetrated support at $5.70, falling to $5.60 before rebounding. Again the market needs to hold this level or technical selling could send the market to support at $5.40 or $5.20.
Cotton & Rice Date: March 11, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 3.96 at 199.94|
|Greenwood up 3.96 at 199.94|
|New York Futures:||May||up||396||at||20494|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed mixed with old crop higher and new crop slightly lower. The long term outlook indicates tightening U.S. and world stocks. However, world production outside the United States could close the supply gap in a hurry. Southern Hemisphere production, namely Argentina, Brazil and Australia, will likely increase their production more than 75 percent from last year. Foreign production could add as much as 10 million bales to stocks this year. U.S. acreage will increase, but it will take moisture in the dry areas of Texas in particular to add significantly to stocks.
|Long Grain Cash Bid for||March||1051/cwt||to||- - -|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice closed just a few cents lower after declining almost 60 cents overnight. May futures closed above support at $12.70, while September climbed back above $14 after penetrating support at $13.54 during the night session. The worst of the selloff could be over, particularly for new crop contract months. Reduced U.S. plantings in 2011 should limit downside pressure.
Cattle & Hogs Date: March 11, 2011
As reported by Federal-State Market News, receipts were 11,753 head at sales in Arkansas this week. Compared with last week, feeder steers sold $3 to $8 higher .
|Medium & Large Frame 1||400||to||450 lbs.||162.00||to||- - -|
|500||to||550 lbs.||155.75||to||- - -|
|600||to||650 lbs.||142.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||147.75||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||141.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||134.50||to||- - -|
Slaughter Cows, Boners 66.00 to 74.00
Light Weight 48.00 to 55.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 80.00 to 90.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures ended the day mixed. Japan is a large importer of U.S. beef, and early losses were attributed to the situation there. Ideas that cash markets will improve next week sparked a recovery by the end of the day.
Peoria: were steady at 55.50 to 57.50
Hog futures were under sharp selling pressure. Japan is the largest customer of U.S. pork, and news of the earthquake and tsunami there sent prices lower.
Poultry Date: March 11, 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
Prices are holding higher for whole broilers and fryers. Offerings are light to satisfy current trade needs. Retail and food service demand is moderate to good entering the weekend. Market activity is active In production areas, live supplies are moderate at mixed, but mostly desirable weights.