(Mar) EAST AR: 1304 to 1340
(NC) Summ. 1268 to 1298
(Mar) MISS: 1337 to 1350 ; AR & White 1308 to 1335
(NC) Summ. 1265 to 1314
Ark. Processor Bids: (Mar) 1320 to 1320 (NC) 1288 to 1298
Memphis: (Mar) 1350 to - - - (NC) 1303 to 1304
Riceland Foods: (Mar) Stuttgart 1320 ; Pendleton 1340 ; West Memphis 1350
|Chicago Futures:||May||up||5 1/2||at||1340|
|Aug||up||7 1/4||at||1343 1/2|
|Jan '12||up||8 1/2||at||1312 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans reversed overnight pressures to close slightly higher for the day. The disaster in Japan led to heavy fund liquidation and the question is where, or whether they will re-enter the market. Fundamentals are unchanged with tight U.S. stocks and a big South American crop acting as offsetting factors. Surveys of projected plantings have been taken and that information will be released the last of March. General feeling is acreage has shifted to corn, but that may change. November support around $12.70 is a key point.
Cash bid for March at Memphis 705 3/4 to 707 3/4;
|Bids to farmers at Local Elevators||693-700;|
|Chicago Futures:||May||up||2||at||720 3/4|
|Sept||up||1 3/4||at||789 1/2|
|Dec||up||1 3/4||at||814 1/2|
|Mar '12||down||1/2||at||833 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1091 to 1111;
|Bids to farmers at River Elevators||1064-1125;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 652 to 656;|
|New Crop at Memphis 597 to 599;|
|Bids to farmers at River Elevators||636 to 666|
|Chicago Futures:||May||up||1 3/4||at||666|
|July||up||1 3/4||at||672 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures recovered a bit today after losing 14% of their value in the last two weeks. This market had obviously built too much optimism regarding exports into the market. A July close below $7.34 will suggest a retest of the key $7 level.
Corn rebounded to close steady to slightly higher. Major concern centers on the Japanese feed industry and the recent disaster’s impact on imports. Near term demand is likely to decline, while long term it could go either way. December support near $5.60 to $5.70 has held, but a close below that level would bring a test of support around $5.40 or perhaps $4.75.
Cotton & Rice Date: March 14, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 7.00 at 192.94|
|Greenwood down 7.00 at 192.94|
|New York Futures:||May||down||700||at||19794|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton futures were sharply lower with old crop holding limit declines throughout the session. May futures have support around $1.75. New crop December has support between $1.15 and $1.20. 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||1087/cwt||to||1165/cwt|
|- - -||- - -||to||- - -|
|Chicago Futures:||May||up||36 1/2||at||1337 1/2|
|July||up||36 1/2||at||1366 1/2|
|Nov||up||33 1/2||at||1465 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice continued to retrace recent losses after making a big reverse on Friday. Initial resistance starts around $15.25 for September and for May around $13.50, then $14.40. 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 14, 2011
As reported by Federal-State Market News, receipts were 4,101 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold $2 to $8 higher .
|Medium & Large Frame 1||450||to||500 lbs.||164.25||to||- - -|
|500||to||550 lbs.||158.25||to||- - -|
|600||to||650 lbs.||144.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||150.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||136.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||135.25||to||- - -|
Slaughter Cows, Boners 64.00 to 72.00
Light Weight 50.00 to 58.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 79.00 to 87.00
Midwest Steers were at 117.00 to 118.00
Panhandle Steers were at 118.00 to - - -
|Oklahoma City Feeders
Cattle futures ended lower. Concern about the situation in Japan and their demand for U.S. beef added pressure, but losses were limited by cash market strength.
Peoria: were $3 lower to $1 higher at 54.50 to 56.50
Hog futures were under sharp selling pressure. Japan is the largest customer of U.S. pork, and concern about demand there following the earthquake and tsunami sent prices lower.
Poultry Date: March 14, 2011
|New York:||Ex. Lg. 93-97; Lg. 91-95; Med. 84-88;|
|Chicago:||Ex. Lg. 84-92; Lg. 82-90; Med. 76-84;|
U.S. Grade A
Prices continue to trend higher for whole broilers and fryers. Offerings are light to satisfy current trade needs. Demand is moderate to good following the weekend. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.