(Mar) EAST AR: 1335 to 1366
(NC) Summ. 1304 to 1334
(Mar) MISS: 1363 to 1371 ; AR & White 1331 to 1361
(NC) Summ. 1308 to 1350
Ark. Processor Bids: (Mar) 1346 to 1351 (NC) 1327 to 1334
Memphis: (Mar) 1370 1/2 to 1380 1/2 (NC) 1332 to 1339
Riceland Foods: (Mar) Stuttgart 1351 ; Pendleton 1366 ; West Memphis 1371
|Chicago Futures:||May||up||2 1/2||at||1365 1/2|
|Jan '12||down||1 1/4||at||1348 1/2|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed mixed as the market traded in a more narrow range. Old crop contracts retraced overnight losses to close slightly higher. Recent private reports suggest that soybeans appear to have lost out to corn and cotton in this year’s acreage race. However, a big South American crop may keep this from being a major problem. The market will remain sensitive to any weather problems associated with the development and harvest of this year’s crop. November continues to honor trendline resistance around $13.45. A close above this level will suggest additional gains.
Cash bid for March at Memphis 707 1/4 to 728 1/4;
|Bids to farmers at Local Elevators||708-718;|
|Chicago Futures:||May||up||1 1/4||at||722 1/4|
|Mar '12||down||4 1/2||at||842|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1128 to 1148;
|Bids to farmers at River Elevators||1102-1163;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 686 3/4 to - - -;|
|New Crop at Memphis 615 3/4 to 618 3/4;|
|Bids to farmers at River Elevators||657 to 687|
|Chicago Futures:||May||up||1/4||at||686 3/4|
|Dec||up||2 3/4||at||612 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat crawled back to the positive side in late trading. The western wheat belt remains dry with only 27 percent of the Kansas crop rated good to excellent. Conditions in Texas and Oklahoma are about the same. July futures have trendline resistance around $7.90.
Corn closed slightly higher despite indications corn plantings will be up around 4 million acres from last year. It now appears interruptions of grain shipments to Japan will be minor with southern ports taking care of grain destined for the ravaged areas in the north. December could test resistance at $6.20, a higher close would be technically positive.
Cotton & Rice Date: March 22, 2011
|Spot Price, Grade 41 Staple 34:||Memphis up 7.00 at 200.96|
|Greenwood up 7.00 at 200.96|
|New York Futures:||May||up||700||at||20596|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton volatility returns. After a day of rest, cotton went back into the wheeling and dealing mode with big across the board gains and old crop up the 700 point limit. New crop remains in a 20 cent trading range and is now creeping back toward the upper resistance level at $1.35. Several private plantings projections now have the 2011 average above 13 million. Tight stocks and indications the disaster in Japan won’t limit cotton demand helped boost the market.
|Long Grain Cash Bid for||March||1111/cwt||to||1135/cwt|
|Chicago Futures:||May||up||2||at||1385 1/2|
|Nov||up||2 1/2||at||1508 1/2|
|Jan '12||up||2 1/2||at||1533|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were slightly higher as the September contract remains open to possibly move to retracement objectives at $15.05 and $15.44. Informa projects rice plantings will be just 2.2 million acres in 2011, down 40 percent from 2010. This should be supportive of new crop, and perhaps drag old crop futures higher.
Cattle & Hogs Date: March 22, 2011
As reported by Federal-State Market News, receipts were 1,232 head at sales in Ft. Smith and Heber Springs. Compared with last week, feeder steers sold unevenly, mostly steady to $3 lower .
|Medium & Large Frame 1||400||to||450 lbs.||161.50||to||- - -|
|500||to||550 lbs.||155.00||to||- - -|
|600||to||650 lbs.||141.25||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||145.25||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||133.50||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||134.00||to||- - -|
Slaughter Cows, Boners 70.00 to 80.00
Light Weight 42.00 to 51.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 85.50 to 95.00
Midwest Steers were $1 lower at 113.00 to - - -
Panhandle Steers were at 113.00 to - - -
|Oklahoma City Feeders
Cattle futures were slightly higher as the market attempts to retrace recent declines. Improving beef cutout values are a positive, and should allow packers to keep bids near record levels.
Peoria: were$1 lower to $3 higher at 55.00 to 57.00
Hogs made a strong move ahead of his week’s pig crop report. The market is expecting all three major categories to be slightly lower than year ago levels. That would suggest sow liquidation has slowed; however, breeding herd expansion is likely a ways away.
Poultry Date: March 22, 2011
|New York:||Ex. Lg. 100-104; Lg. 98-102; Med. 92-96;|
|Chicago:||Ex. Lg. 86-94; Lg. 84-92; Med. 78-86;|
U.S. Grade A
Whole broiler and fryer prices are steady to weak. Offerings are moderate to at times heavy for current trade needs. Demand is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate. Weights are mostly desirable.