Farm Bureau invites you to attend the Market Update Webinar on Thurs. March 31, 8:30 a.m. The update will highlight changes in the USDA report, as well as potential affects these changes will have on the market. The update will last approximately 30 minutes and cover the major crops: rice, cotton, soybeans, corn, and wheat. You can participate in the webinar using a computer, IPhone, or Blackberry. For registration information contact Matt King, 501-228-1297, firstname.lastname@example.org or Sandy Reeves, 501-228-1300, email@example.com.
(Mar) EAST AR: 1318 to 1349
(NC) Summ. 1302 to 1332
(Mar) MISS: 1346 to 1354 ; AR & White 1322 to 1344
(NC) Summ. 1303 to 1348
Ark. Processor Bids: (Mar) 1329 to 1334 (NC) 1325 to 1332
Memphis: (Mar) 1360 1/2 to - - - (NC) 1332 to - - -
Riceland Foods: (Mar) Stuttgart 1334 ; Pendleton 1349 ; West Memphis 1354
|Chicago Futures:||May||down||9 3/4||at||1348 1/2|
|July||down||9 1/4||at||1359 1/4|
|Aug||down||8 3/4||at||1358 1/4|
|Jan '12||down||8 1/4||at||1346 3/4|
|Today's Arkansas LDP rate for soybeans is:||0¢|
Soybeans closed lower for the day, but remained in the same trading range that prevailed last week. Good harvest progress, despite some weather delays in Brazil, will continue to pressure the market. On the other hand, prospects of a smaller U.S. acreage will limit downside pressure. USDA’s annual planting intentions report is set for release on Thursday.
Cash bid for March at Memphis 710 1/4 to 731 1/4;
|Bids to farmers at Local Elevators||711-721;|
|Chicago Futures:||May||down||8||at||725 1/4|
|Sept||down||7 3/4||at||798 3/4|
|Mar '12||down||6 3/4||at||845 1/4|
|Today's Arkansas LDP rate for wheat is:||0¢|
Cash bid for March at Memphis 1100 to 1127;
|Bids to farmers at River Elevators||1073-1134;|
|Today's Arkansas LDP rate for sorghum is:||0¢|
|Cash bid for||March at Memphis 673 to 676;|
|New Crop at Memphis 604 1/4 to - - -;|
|Bids to farmers at River Elevators||641 to 671|
|Chicago Futures:||May||down||18 1/2||at||671|
|Sept||down||13 1/2||at||631 1/4|
|Today's Arkansas LDP rate for corn is:||0¢|
Wheat posted across the board losses. Poor crop conditions have yet to register as a major problem, although dry conditions persist in the western part of the hard red production area. July will need to close above $7.90 to extend the rebound toward retracement objectives of $8.21 and $8.52.
Corn continued Friday’s late downturn and closed lower. New crop December closed below $6 after failing to hold last week’s gains. A brief push above $6.20 led to a big downward reversal on Friday. So, $6.20 continues to be tough resistance, at least for the time being. The market is anticipating planting intentions near 92 million acres, the second largest in history. Even that acreage will require good yields to meet expected demand.
Cotton & Rice Date: March 28, 2011
|Spot Price, Grade 41 Staple 34:||Memphis down 7.00 at 192.49|
|Greenwood down 7.00 at 192.49|
|New York Futures:||May||down||700||at||19749|
|This week's LDP rate for cotton is||0 cents|
|The estimate for next week is||0 cents|
Cotton moved back to the bottom side of last week’s trading range, following the overall weaker undertone in all commodities. Expectations are for plantings to exceed 13 million acres in 2011. The question is how much over 13, and what U.S. production will be. World plantings will also increase and overall production could be enough to ease the tight stocks situation.
|Long Grain Cash Bid for||March||1109/cwt||to||1111/cwt|
|Chicago Futures:||May||down||40 1/2||at||1389|
|July||down||40 1/2||at||1419 1/2|
|Today's Arkansas LDP rate for long grain rice is||0¢|
|medium grain rice is||0¢|
Rice futures were sharply lower after seven straight days of gains. December futures completed a 50 percent retracement of recent losses last week. Evening of positions and profit taking took the market lower ahead of Thursday’s report. 2011 plantings are expected to be down from last year as farmers increase corn, beans and cotton.
Cattle & Hogs Date: March 28, 2011
As reported by Federal-State Market News, receipts were 3,048 head at sales in Ash Flat, Springdale and Ola. Compared with last week, feeder steers sold weak to $5 lower .
|Medium & Large Frame 1||400||to||450 lbs.||163.00||to||- - -|
|500||to||550 lbs.||152.00||to||- - -|
|600||to||650 lbs.||138.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||149.00||to||- - -|
|Medium & Large Frame 1||500||to||550 lbs.||134.00||to||- - -|
|Medium & Large Frame 2||400||to||450 lbs.||132.00||to||- - -|
Slaughter Cows, Boners 72.00 to 78.00
Light Weight 55.00 to 62.00
Bulls, Yield Grade 1 1000 to 2100 lbs. 85.00 to 92.00
Midwest Steers were at 114.00 to - - -
Panhandle Steers were at 113.00 to 114.00
|Oklahoma City Feeders
Cattle futures turned a bit lower today. Last week’s gains pushed futures prices higher than cash prices, so today’s move is mostly just profit taking and a technical correction. Finished cattle supplies appear tight as feedlots are pushing marketings based on current strong prices. Funds appear to be establishing large feeder positions.
Peoria: were 50¢ to $3 higher at 57.00 to 57.50
Hogs were mixed. Slaughter numbers are down 3 percent from a year ago, and cutout values have risen almost 25 percent. Export demand is good and Japan appears to be ramping up their purchases.
Poultry Date: March 28, 2011
|New York:||Ex. Lg. 111-115; Lg. 109-113; Med. 103-107;|
|Chicago:||Ex. Lg. 103-111; Lg. 101-109; Med. 94-102;|
U.S. Grade A
Prices continue to hold steady for whole broiler and fryers. Offerings are moderate to at times heavy. Demand following the weekend is mostly light. Market activity is slow to moderate. In production areas, live supplies are moderate. Weights are mostly desirable.