(Mar) EAST AR: 1327 to 1363
(NC) Summ. 1294 to 1324
(Mar) MISS: 1345 to 1368 ; AR & White 1331 to 1358
(NC) Summ. 1293 to 1326
Ark. Processor Bids: (Mar) 1343 to 1343 (NC) 1314 to 1324
Memphis: (Mar) 1371 1/2 to 1372 1/2 (NC) 1330 to 1334
Riceland Foods: (Mar) Stuttgart 1343 ; Pendleton 1363 ; West Memphis 1373
|Chicago Futures:||May||up||27 1/4||at||1362 1/2|
|Aug||up||27 1/2||at||1367 1/4|
|Jan '12||up||31 1/4||at||1338 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans made good gains for the third day in a row. November futures stalled out when the market couldn’t hold above a downtrend drawn off recent highs. A smaller than expected projected plantings by Informa gave soybeans a good boost. Their estimate was just 75.3 million acres, over two million less than last year. Heavy rains in Brazil and damage to beans in transport was also positive for the market. November has resistance between $13.40 and $13.58.
Cash bid for March at Memphis 708 to 728;
|Bids to farmers at Local Elevators||701-719;|
|Chicago Futures:||May||up||12 3/4||at||723|
|July||up||13 1/4||at||758 1/2|
|Sept||up||13 1/4||at||797 1/4|
|Dec||up||14 1/2||at||826 3/4|
|Mar '12||up||13 3/4||at||846 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1122 to 1146;
|Bids to farmers at River Elevators||1096-1157;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 678 1/2 to 679 1/2;|
|New Crop at Memphis 610 to 612;|
|Bids to farmers at River Elevators||654 to 684|
|Chicago Futures:||May||up||37||at||683 1/2|
|Dec||up||19 1/4||at||598 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat continued to recover from the recent selloff. Technical selling pushed the market much lower than anticipated, so hopefully the recovery will be stronger. Initial resistance for July is seen between $7.90 and $8.15. Dry conditions are still persisting in the Western regions of the hard red wheat belt.
Corn futures were sharply higher with old crop leading the way. A rumor of a big Chinese purchase hasn’t been confirmed, but it hasn’t been denied either. In addition, it appears that there will be limited curtailment of sales to Japan. Informa’s corn acreage estimate of 91.76 million acres was near expectations, but may still be short of needs. December futures came within a couple of cents of resistance near $6.20 before backing off to close just under $6.
Cotton & Rice Date: March 18, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 7.00 at 194.12|
|Greenwood up 7.00 at 194.12|
|New York Futures:||May||up||700||at||19912|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton continued to retrace recent declines. New crop December has a 20 cent trading range, $1.35 to $1.15, that has contained the market for the last six or seven weeks. The market is looking for a substantial increase in acreage. While the market top may have been made, there will be limited downside pressure until this year’s crop is well established.
|Long Grain Cash Bid for||March||1113/cwt||to||1165/cwt|
|Chicago Futures:||May||up||37 1/2||at||1363 1/2|
|Sept||up||34 1/2||at||1460 1/2|
|Jan '12||up||28 1/2||at||1514|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures rode the wave higher with new crop September breaking a downtrend. The next resistance is located around $15.25. Smaller 2011 plantings are expected and that is supportive, but upside is likely limited until the actual acreage is well established.
Cattle & Hogs Date: March 18, 2011
As reported by Federal-State Market News, receipts were 11,524 head at sales in Arkansas this week. Compared with last week, feeder steers sold mostly $3 to $5 lower .
|Medium & Large Frame 1||400||to||450 lbs.||167.00||to||- - -|
|500||to||550 lbs.||153.00||to||- - -|
|600||to||650 lbs.||137.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||142.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||136.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||132.00||to||- - -|
Slaughter Cows, Boners 68.00 to 75.00
Light Weight 62.00 to 69.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 80.00 to 89.00
Midwest Steers were at 112.00 to - - -
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Live cattle futures ended mixed. Gains in corn were negative for feeders. A close below $110 by April would be negative.
Peoria: were steady at 54.00 to 56.00
Hogs bounced back on reduced concerns about cancellation of shipments to Japan. Japanese buying has continued and it appears the disaster may bring additional purchases. April futures have resistance around $90.
Poultry Date: March 18, 2011
|New York:||Ex. Lg. 94-98; Lg. 92-96; Med. 86-90;|
|Chicago:||Ex. Lg. 84-92; Lg. 82-90; Med. 76-84;|
U.S. Grade A
Prices are steady for whole broiler and fryers. Offerings are light to moderate for current trade needs. Demand is moderate entering the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.