(Mar) EAST AR: 1234 to 1270
(NC) Summ. 1198 to 1228
(Mar) MISS: 1267 to 1280 ; AR & White 1238 to 1265
(NC) Summ. 1195 to 1244
Ark. Processor Bids: (Mar) 1250 to - - - (NC) 1218 to 1228
Memphis: (Mar) 1268 to 1275 (NC) 1233 to 1234
Riceland Foods: (March) Stuttgart 1250 ; Pendleton 1270 ; West Memphis 1280
|Jan '12||down||69 1/4||at||1243 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed down the limit as funds continue to exit long positions following the Japanese disaster. With financial markets shaken, funds are divesting their long positions as fast as possible; the result was widespread losses in all the major commodities as declines tripped additional sell orders at key price levels. November fell through support at $12.20 which left the market testing trendline support at today’s low and apparently vulnerable to further declines. The next support is just below $11.90 and then all the way down to $11.02.
Cash bid for March at Memphis 652 3/4 to 656 3/4;
|Bids to farmers at Local Elevators||641-648;|
|Chicago Futures:||May||down||53||at||667 3/4|
|July||down||52 1/2||at||700 1/2|
|Sept||down||51 3/4||at||737 3/4|
|Dec||down||50 1/4||at||764 1/4|
|Mar '12||down||45 1/2||at||787 3/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1038 to 1057;
|Bids to farmers at River Elevators||1011-1071;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 622 to 626;|
|New Crop at Memphis 567 to 569;|
|Bids to farmers at River Elevators||606 to 636|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures gapped lower today and July is currently testing the key $7 level. Obviously the uncertainty about the situation in Japan is taking its toll on the markets. Also, there are indications that wheat had priced itself out of competition in the global marketplace.
Corn closed down the limit as concern increases about the near term impact on exports to Japan. December corn, like soybeans, fell through key support at $5.70 triggering additional technical sales and pushing the market near support around $5.40. From here, the market may not find support until reaching the November lows at $4.76.
Cotton & Rice Date: March 15, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 7 at 185.94|
|Greenwood down 7 at 185.94|
|New York Futures:||May||down||700||at||19094|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton was down sharply with December hanging just above key support at $1.15. Obviously, like other commodities the selloff is related to world conditions. Cotton supplies remain tight and there is a major question about how much cotton will be planted in the U.S. and the world in 2011.
|Long Grain Cash Bid for||March||1037/cwt||to||- - -|
|Chicago Futures:||May||down||50||at||1287 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice reversed yesterday’s upturn as it followed grains and soybeans lower and also declined the limit. Last week’s low, just above $13.40, could be vulnerable. There’s not much rhyme or reason to the market. The easiest path is down as longs vacate position. Investors are looking for safe havens, but the disaster in Japan and the unrest in Northern Africa have left little stability for the market to rally around.
Cattle & Hogs Date: March 15, 2011
As reported by Federal-State Market News, receipts were 1,089 head at sales in Heber Springs and Fort Smith. Compared with last week, feeder steers sold steady to $3 higher, heifers sold steady .
|Medium & Large Frame 1||400||to||450 lbs.||165||to||- - -|
|500||to||550 lbs.||152.50||to||- - -|
|600||to||650 lbs.||142.75||to||- - -|
|Medium & Large Frame 2||450||to||500 lbs.||138||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||136||to||- - -|
|Medium & Large Frame 2||500||to||550 lbs.||122.50||to||- - -|
Slaughter Cows, Boners 68 to 75
Light Weight 45 to 52
Bulls, Yield Grade 1 1000 to 2100 lbs. 84 to 90
Midwest Steers were $2 to $3 lower at 115 to - - -
Panhandle Steers were $4 lower at 114 to - - -
|Oklahoma City Feeders
Cattle futures gapped lower. Concern about the situation in Japan and demand for U.S. beef in that country were the driving force today. Sharp declines in stock markets around the world have traders fearing for the health of the global economy.
Peoria: were $1.50 lower to $2.50 higher at 54 to 56
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 15, 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
Whole broiler/fryer prices are trending steady to firm. Offerings are light to moderate for current trade needs. Demand is moderate with trading usually limited to regular commitments. Market activity is moderate. In production areas, live supplies are moderate. Weights are mostly desirable.