(Mar) EAST AR: 1251 to 1287
(NC) Summ. 1211 to 1241
(Mar) MISS: 1284 to 1297 ; AR & White 1255 to 1282
(NC) Summ. 1208 to 1257
Ark. Processor Bids: (Mar) 1267 to 1267 (NC) 1231 to 1241
Memphis: (Mar) 1292 to 1294 (NC) 1246 3/4 to 1250 3/4
Riceland Foods: (Mar) Stuttgart 1267 ; Pendleton 1287 ; West Memphis 1297
|July||up||17 1/4||at||1295 1/4|
|Aug||up||17 1/4||at||1290 3/4|
|Nov||up||12 3/4||at||1250 3/4|
|Jan '12||up||13||at||1256 1/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed higher as the market attempted to retrace recent big declines. Overnight gains held in the early trade, but declined as momentum failed and the market closed well off the highs. The major positive of the day was the November contract holding trendline support for the second day in a row. Fundamentally, wet weather delays in the Brazilian harvest added support.
Cash bid for March at Memphis 647 to 662;
|Bids to farmers at Local Elevators||638-656;|
|Chicago Futures:||May||down||5 3/4||at||662|
|Sept||down||3 1/4||at||734 1/2|
|Mar '12||down||2 1/2||at||785 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1003 to 1022;
|Bids to farmers at River Elevators||977-1038;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 609 1/2 to 611 1/2;|
|New Crop at Memphis 556 to 558;|
|Bids to farmers at River Elevators||587 to 617|
|Chicago Futures:||May||down||19 1/2||at||616 1/2|
|July||down||18 3/4||at||623 3/4|
|Dec||up||1 1/4||at||549 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat futures traded in a wide range with July eventually closing below $7 and charting a bearish reversal. 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. July has support beginning around $6.80.
Corn closed mixed with old crop sharply lower. Bear spreading, selling old crop and buying new crop appeared to be the major factor. It will take investment funds re-entering the market to generate any substantial upward movement. Economic concerns remain in question as Japan attempts to initiate recovery from last week’s disaster.
Cotton & Rice Date: March 16, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 5.82 at 180.12|
|Greenwood down 5.82 at 180.12|
|New York Futures:||May||down||582||at||18512|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton futures flipped from positive to negative during the day session. Old crop moved to the negative side and ended the session sharply lower for the third day in a row. New crop December remained positive until late in the session and held above strong support just above $1.15. Penetration of that level will bring support at $1.10 and perhaps at $1 into play.
|Long Grain Cash Bid for||March||1026/cwt||to||1165/cwt|
|Chicago Futures:||May||down||11 1/2||at||1276|
|Jan '12||down||6 1/2||at||1435 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice failed to hold early gains and closed a little lower for the day. Upside potential appears limited with this year’s poor quality long grain crop hampering export potential. Prospects of a much smaller U.S. crop in 2011 are long term supportive and should limit downside pressure on distant contracts. The international market remains somewhat subdued, but things could change when the Philippines start buying rice.
Cattle & Hogs Date: March 16, 2011
As reported by Federal-State Market News, receipts were 529 head at sales in Conway and Pocahontas. Compared with last week, feeder steers sold $3 to $5 higher, instances $6 to $10 .
|Medium & Large Frame 1||400||to||450 lbs.||166.25||to||- - -|
|500||to||550 lbs.||153.75||to||- - -|
|- - -||to||- - - lbs.||- - -||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||146.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||130.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||123.00||to||- - -|
Slaughter Cows, Boners 66.50 to 78.00
Light Weight 47.00 to 53.00
Bulls, Yield Grade 1 1000 to 2000 lbs. 88.00 to 93.00
Midwest Steers - - - at - - - to - - -
Panhandle Steers were 50¢ to $2 lower at 112.00 to 113.50
|Oklahoma City Feeders
Cattle futures posted significant losses again today. 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 steady at 54.00 to 56.00
Hog futures recovered a bit today. Japan is the largest customer of U.S. pork, and there was news today that shipments won’t be interrupted and that Japan will need to replace stocks damaged in the disaster.
Poultry Date: March 16, 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 and fryer prices are mostly steady. Offerings are light to moderate. 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.