Arkansas Farm Bureau
Arkansas Farm Bureau
Grain & Soybean Date: March 04, 2009

Soybeans

Local Elevators:
(March) EAST AR:  851 to 874
(NC) Summ. 720 to 755
River Elevators:
(Mar) MISS: 869 to 890 ; AR & White 854 to 870
(NC) Summ. 745 to 775
Ark. Processor Bids: (Mar) 862 to 864  (NC) 750 to 755
Memphis:  (Mar) 888 1/2 to 893 1/2 (NC)  775 1/4 to - - -
Riceland Foods:  (Mar) Stuttgart 864 ; Pendleton 874 ; West Memphis 881

Chicago Futures: May up 15 at  868 1/2
  Jul  up  16 1/2  at  867 3/4
  Sep up 18 1/4  at  824 1/4
  Nov up 19  at  810 1/4
  Jan '10 up 18 3/4  at  819
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans rebounded early supported by gains on Wall Street and a big move in crude oil. Continued dissension between farmers and the Argentina government provided support and helped boost November above $8.

Corn made across the board gains with good support coming from slow farmer selling. As has been seen in recent days and weeks there is a tight relationship between commodities and the current economic situations, particularly Wall Street.

Wheat
Cash bid for March at Memphis  457 to 458;
Bids to farmers at Local Elevators 425-460;
River Elevators 452-480;

Chicago Futures: May up  21 1/4  at  523 
  Jul up 21 1/4  at  535 
  Sep up  21  at  559 1/4 
  Dec up  21  at  580 1/4 
  Mar '10 up  20 3/4  at  597 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for March at Memphis  488 to 524;
Bids to farmers at River Elevators 401-482;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for March at Memphis   365 1/2 to 371 1/2;
  new crop at Memphis   341 3/4 to - - -;
Bids to farmers at River Elevators  327 to 364

Chicago Futures: May up  13  at  363 1/2 
  Jul up  13  at  372 3/4 
  Sep up  13 1/4  at  381 3/4 
  Dec up  13  at  393 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat prices rebounded slightly today, following the financial markets higher. There has not been any new fundamental news for the resurgence, so if financial markets fall, so will wheat prices. July wheat has support at around $5.00.



Cotton & Rice  Date: March 04, 2009


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 24 at  3671
  Greenwood up  24 at 3671

New York Futures: May up  24  at  4196 
  Jul up  16  at  4323 
 Dec up  22  at  4758 
 Mar '10 up  at  5073 
 - - -   - - -  at  - - - 
This week's LDP rate for cotton is  17.60 cents
  The estimate for next week is  19.08 cents
Cotton Comment
Cotton got a boost from indications China will likely provide a stimulus package there. That could help their textile industry and therefore cotton. However, it will take a big move to get futures above loan level.

Rice
Long Grain Cash Bid for  n/a - - -  to  - - -
  n/a - - -  to  - - -

Chicago Futures: May up  4 1/2  at  1236 1/2 
 Jul up  5 1/2  at  1254 1/2 
 Sep up  at  1178 1/2 
 Nov unchanged    at  1185 
 - - -   - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was slightly higher but still needs to see a jump in milled rice exports. Like other commodities rice is going to be strongly influenced by outside markets unless demand increases significantly.



Cattle & Hogs  Date: March 04, 2009

Cattle
As reported by Federal-State Market News, receipts were 643 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold firm to $4 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 107 to - - -
  500 to 550 lbs. 99.50 to - - -
  600 to 650 lbs. 88 to - - -
 Medium & Large Frame 2   400 to 450 lbs. n/a to - - -

Heifers:
 Medium & Large Frame 1   400 to 450 lbs. 90.75 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 83 to - - -

Slaughter Cows, Boners 37   to   44
Light Weight 25 to 32
Bulls, Yield Grade   1   1000   to   2100 lbs.   48   to   55, high lean cows 25-32
Midwest Steers   remained   at   79   to   - - -
Panhandle Steers   were quoted   at   79   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 108.50 to 114
  600 to 650 lbs. 98.10 to 105.25
Heifers 500 to 550 lbs. 93.50 to 100
  600 to 650 lbs. 85.10 to 93.60

Chicago Futures:
Live Cattle: Apr up 42 at 8465
  Jun up 60 at 8305
Feeders: May up 57 at 9490
  Sep up 95 at 9845

Cattle Comment
Cattle prices continued to firm slightly. The question is still whether the normal seasonal upturn will be over ridden by the world and U.S. economic situation. Retailers are wary of consumer reaction to any price upturn.

Hogs
Peoria: were     steady   at   32.5   to   33

Chicago Futures: Apr up 147 at 6232
  Jun up 97 at 7275

Sheep
St. Paul sheep shorn slaughter lambs   at   n/a   to   - - -

Hogs Comment
Hog futures continue to improve despite weak pork values. Eastern markets firmed in response to the strong winter storm. Tightening hog supplies would normally lead to seasonal gains, but that may not happen as overall demand remains soft.



Poultry  Date: March 04, 2009

Eggs
New York:  Ex. Lg. 95-99; Lg. 93-97; Med. 86-90;
Chicago:  Ex. Lg. 85-93; Lg. 83-91; Med. 77-85;

Eastern Region Turkeys
Hens: 8-16 lbs. 74-76
Toms: 16-24 lbs. 74-76.5
 

Delmarva Broilers
U.S. Grade A
Trade sentiment was mostly steady. Demand was fair, at times moderate for active feature activity. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas, live supplies were moderate at mixed, but mostly desirable weights.