(Mar) EAST AR: 1327 to 1363
(NC) Summ. 1305 to 1335
(Mar) MISS: 1360 to 1373 ; AR & White 1331 to 1358
(NC) Summ. 1309 to 1351
Ark. Processor Bids: (Mar) 1343 to 1343 (NC) 1325 to 1335
Memphis: (Mar) 1373 to 1378 (NC) 1333 to 1340
Riceland Foods: (Mar) Stuttgart 1343 ; Pendleton 1363 ; West Memphis 1373
|Aug||up||2 1/4||at||1369 1/2|
|Jan '12||up||11 1/4||at||1349 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans ended the session higher, with extended gains in the new crop contracts. Outside markets were mostly positive for the grains with the dollar lower, and equities and oil higher. Prospects of reduced U.S. acres in 2011 gave the new crop months a bigger boost. Old crop gains were smaller as the market looks ahead to a substantial South American crop and reduced demand from importers for U.S. beans.
Cash bid for March at Memphis 706 to 723;
|Bids to farmers at Local Elevators||699-717;|
|Mar '12||up||1/4||at||846 1/2|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March 21, 2011 at Memphis 1128 to 1146;
|Bids to farmers at River Elevators||1102-1163;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 683 1/2 to 686 1/2;|
|New Crop at Memphis 615 1/2 to 618 1/2;|
|Bids to farmers at River Elevators||657 to 687|
|Chicago Futures:||May||up||3||at||686 1/2|
|July||up||3 1/2||at||693 1/2|
|Sept||up||8 1/2||at||645 1/2|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat traded in a narrow range today and closed a bit lower. Technical selling pushed the market much lower than anticipated in the past couple of weeks, so hopefully the recovery will be stronger. Initial resistance for July is seen between $7.90 and $8.15.
Corn continued to firm but old crop was not as strong as new crop. The market is looking for confirmation of big sales to China that were rumored last week. So far, sales to unknown buyers of 232,000 tons, is well below the rumored sale of 500,000 tons. December futures are about a dime away from strong resistance at $6.20. The market has failed at or near this level numerous times in the last 5 or 6 weeks. A close above this resistance would be technically bullish.
Cotton & Rice Date: March 21, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 16 at 193.96|
|Greenwood down 16 at 193.96|
|New York Futures:||May||down||16||at||19896|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton closed narrowly mixed as the market reflects a tight stocks situation.
|Long Grain Cash Bid for||March/April||1075/cwt||to||1133/cwt|
|April/May||1075/cwt||to||- - -|
|Chicago Futures:||May||up||20||at||1383 1/2|
|Jan '12||up||16 1/2||at||1530 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice continued to retrace recent losses with retracement objectives of $15.05 and $15.44 within reach.
Cattle & Hogs Date: March 21, 2011
As reported by Federal-State Market News, receipts were 2,314 head at sales in Ash Flat and Springdale. Compared with last week, feeder steers sold steady to $5 higher .
|Medium & Large Frame 1||400||to||450 lbs.||168.00||to||- - -|
|500||to||550 lbs.||161.00||to||- - -|
|600||to||650 lbs.||142.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||157.50||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||132.75||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||130.50||to||- - -|
Slaughter Cows, Boners 65.00 to 74.00
Light Weight 51.00 to 59.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 79.00 to 88.00
Midwest Steers were at 114.00 to 114.00
Panhandle Steers - - - at - - - to - - -
|Oklahoma City Feeders
Cattle futures ended sharply higher. The Dow was up 200 points today, giving cattle futures solid support. The dollar index is down a bit today, giving U.S. beef more of an edge in the export market. April will have resistance at $114.70.
Peoria: were steady at 54.00 to 56.00
Hogs were higher but traded in a relatively narrow range. Japanese buying has continued and it appears the disaster may bring additional purchases. April futures have resistance around $90.
Poultry Date: March 21, 2011
|New York:||Ex. Lg. 95-99; Lg. 93-97; Med. 87-91;|
|Chicago:||Ex. Lg. 86-94; Lg. 84-92; Med. 78-86;|
U.S. Grade A
Prices are steady for whole broiler/fryers. Offerings are light to moderate for current trade needs. Demand is moderate following the weekend with trading usually limited to regular commitments. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.