Soybeans
Local Elevators:
(April) EAST AR: 915 to 955
(New Crop) Summ. 914 to 936
River Elevators:
(April) MISS: 930 to 978 ; AR & White 915 to 925
(New Crop) Summ. 913 to 946
Ark. Processor Bids: (April) 920 to 927 (New Crop) 926 to 927
Memphis: (April) 985 1/4 to - - - (New Crop) 947 1/2 to 950 1/2
Riceland Foods: (April) Stuttgart 925 ; Pendleton 918 ; West Memphis 978
| Chicago Futures: | May | up | 1 1/4 | at | 985 1/4 |
| | July | up | 2 | at | 995 |
| | Sept | up | 3 3/4 | at | 973 1/4 |
| | Nov | up | 4 1/2 | at | 965 1/2 |
| | Jan | up | 4 1/4 | at | 972 3/4 |
| | Today's Arkansas LDP rate for soybeans is: | 0¢ |
Soybean Comment
Soybeans ended the week on a positive note. The harvest of big crops in Brazil and Argentina is moving at a good pace and there is little doubt it will be a record, far exceeding last year's. Old crop supplies in the U.S. will be tight, but 2010 plantings will produce another record or near record crop. In the meantime the market can rally on planting problems, but long term the outlook isn?t real bright. November has tough resistance at $9.74 ½.
Wheat
Cash bid for April at Memphis 440 1/2 to 460 1/2;
| Bids to farmers at Local Elevators | 443-471; |
| River Elevators | 456-498; |
| Chicago Futures: | May | up | 10 1/4 | at | 490 1/2 |
| | July | up | 9 3/4 | at | 502 1/2 |
| | Sept | up | 9 1/2 | at | 519 1/4 |
| | Dec | up | 9 3/4 | at | 546 |
| | March 2011 | up | 10 1/2 | at | 573 1/2 |
| | Today's Arkansas LDP rate for wheat is: | 0¢ |
Grain Sorghum
Cash bid for April at Memphis 641 to - - -;
| Bids to farmers at River Elevators | 498-573; |
| Today's Arkansas LDP rate for sorghum is: | 0¢ |
Corn
| Cash bid for | April at Memphis 372 to 373; |
| | New Crop at Memphis 364 to - - -; |
| Bids to farmers at River Elevators | 338 to 366 |
| Chicago Futures: | May | up | 3/4 | at | 364 |
| | Sept | down | 1/4 | at | 384 |
| | Dec | unchanged | | at | 394 1/4 |
| | March 2011 | up | 1/4 | at | 406 1/2 |
| | Today's Arkansas LDP rate for corn is: | 0¢ |
Grain Comment
Wheat prices rallied 4 to 8 cents across the board in the last hour of trading today as every wheat contract closed up between 9 and 10 cents. Wheat prices continue to trade based on outside markets and technical signals as fundamentals remain bearish.
While there was little follow through corn did a good job of at least holding on to yesterday's gains. Longer term big U.S. supplies will limit upside potential.
