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Closing Grains: from the Arkansas Farm Bureau Commodity Staff
Grain & Soybean: March 12, 2010
Soybeans
Local Elevators:
(March) EAST AR: 856 to 896
(New Crop) Summ. 862 to 884
River Elevators:
(March) MISS: 872 to 927 ; AR & White 857 to 867
(New Crop) Summ. 860 to 894
Ark. Processor Bids: (March) 871 to 873 (New Crop) 869 to 872
Memphis: (March) 930 1/2 to 939 1/2 (New Crop) 889 to 894
Riceland Foods: (March) Stuttgart 873 ; Pendleton 866 ; West
Memphis 919
|
Chicago Futures: |
May |
down |
5 |
at |
925 1/2 |
|
|
July |
down |
5 1/2 |
at |
933 1/2 |
|
|
Sept |
down |
3 1/2 |
at |
922 |
|
|
Nov |
down |
2 1/2 |
at |
914 |
|
|
Jan |
down |
2 1/4 |
at |
923 1/2 |
|
|
Today's Arkansas LDP rate for soybeans is: |
0¢ |
|||
Soybean Comment
Soybeans failed to hold early gains despite a weaker dollar and a
sizeable sale of soybeans for 2010/11 to China. The undertone of the
market is somewhat negative. Inability to rebound from yesterday�s
losses suggests further declines are probable. The market could
still have a seasonal rally during planting time but the question is
from where.
Wheat
Cash bid for March at Memphis 435 1/4 to 462 1/4;
|
Bids to farmers at Local Elevators |
438-460; |
|
River Elevators |
448-483; |
|
Chicago Futures: |
May |
up |
6 1/2 |
at |
485 1/4 |
|
|
July |
up |
6 1/2 |
at |
498 |
|
|
Sept |
up |
5 3/4 |
at |
514 |
|
|
Dec |
up |
5 3/4 |
at |
540 1/4 |
|
|
March 2011 |
up |
5 3/4 |
at |
564 3/4 |
|
|
Today's Arkansas LDP rate for wheat is: |
0¢ |
|||
Grain Sorghum
Cash bid for March at Memphis 647 to - - -;
|
Bids to farmers at River Elevators |
489-564; |
|
Today's Arkansas LDP rate for sorghum is: |
0¢ |
Corn
|
Cash bid for |
March at Memphis 360 1/4 to 361 1/4; |
|
|
New Crop at Memphis 364 1/4 to - - -; |
|
Bids to farmers at River Elevators |
329 to 359 |
|
Chicago Futures: |
May |
down |
1 |
at |
364 1/4 |
|
|
Sept |
down |
1 1/4 |
at |
384 1/4 |
|
|
Dec |
down |
1 1/2 |
at |
393 3/4 |
|
|
March 2011 |
down |
1 1/2 |
at |
405 |
|
|
Today's Arkansas LDP rate for corn is: |
0¢ |
|||
Grain Comment
Wheat ended the week on a positive note. July is hovering just above
the $4.84 contract low. Downside appears limited, but there is not
much upside potential with big world supplies weighing on the
market.
Corn traded in a narrow range but ended the day slightly lower. Big
stocks and the possibility of increased U.S. plantings in 2010 will
limit upside potential. Technically a September close below $3.76
would be extremely negative.