Grain & Soybean Date: March 17, 2010

Soybeans

Local Elevators:
(March) EAST AR:  889 to 929
(New Crop) Summ. 889 to 911
River Elevators:
(March) MISS: 904 to 962 ; AR & White 889 to 899
(New Crop) Summ. 885 to 921
Ark. Processor Bids: (March) 901 to 901  (NC) 896 to 899
Memphis:  (March) 969 to 971 (New Crop)  920 1/2 to - - -
Riceland Foods:  (March) Stuttgart 901 ; Pendleton 899 ; West Memphis 952

Chicago Futures:	May	up	14	at	959
	July	up	14	at	966 3/4
	Sept	up	14	at	949 3/4
	Nov	up	14 1/2	at	940 1/2
	Jan	up	14 1/4	at	949 1/2
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans added to yesterday’s move as outside markets continued to offer support. A weaker dollar and stronger oil and equities gave the market a boost. Wet conditions, including flooding in some areas, is raising concern about another later crop. Upside potential appears limited with November resistance just below $9.50. Today’s move did break a down trend which should bring a test of that resistance. Tomorrow’s export shipments report will be a key factor in determining whether the upturn continues.

Wheat
Cash bid for March at Memphis  446 to 473;

Bids to farmers at Local Elevators	449-471;
River Elevators	462-497;

Chicago Futures:	May	up	9	at	496
	July	up	9	at	508 3/4
	Sept	up	9	at	524 3/4
	Dec	up	8 1/4	at	551
	March 2011	up	8	at	576
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for March at Memphis  671 to - - -;

Bids to farmers at River Elevators	507-582;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	March at Memphis   369 to 370;
	New Crop at Memphis   374 3/4 to - - -;
Bids to farmers at River Elevators	338 to 369

Chicago Futures:	May	up	7 1/4	at	374
	Sept	up	7 1/2	at	394 3/4
	Dec	up	7 1/4	at	404
	March 2011	up	6 3/4	at	415
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat posted surprising gains with little fundamental justification for the move. The potential for flooding in the Red River Valley is providing some support, but favorable conditions across much of winter wheat country and large old-crop supplies are keeping a lid on prices.

Corn made good gains despite increasing ethanol stocks, which have reduced profit margins. Like soybeans, upside potential appears limited. Rebounds to $4.00 or better by the September contract should be viewed as a pricing opportunity.

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Cotton & Rice  Date: March 17, 2010

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 67 at  7667
	Greenwood down  67 at 7667

New York Futures:	May	down	67	at	8117
	July	down	40	at	8199
	Oct	down	29	at	7604
	Dec	down	52	at	7455
	March 2011	down	63	at	7555
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was mostly lower as the market retraced a portion of recent gains. Strong demand in a tightening supply situation should keep the market firm. New crop has been able to maintain an upward bias, albeit gains have been small. Long term the market could work higher despite prospects of increased 2010 U.S. plantings. Improving economic conditions should keep demand good.

Rice

Long Grain Cash Bid for	March	1177/cwt	to	- - -
	- - -	- - -	to	- - -

Chicago Futures:	May	up	1 1/2	at	1262
	July	up	1/2	at	1291
	Sept	down	1/2	at	1278
	Nov	up	1/2	at	1294
	- - -		- - -	at	- - -
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures were mixed as the market failed to generate any substantial follow-through on recent gains. Fundamentals are generally to the negative side, but may be mostly accounted for in recent declines. There is some thought that El Nino influences could reduce Southeast Asia’s production. The international market remains lackluster, and prospects of increased U.S. 2010 plantings is keeping pressure on the market. Initial new crop retracements for the September contract are $13.11 to $13.43.

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Cattle & Hogs  Date: March 17, 2010

Cattle
As reported by Federal-State Market News, receipts were 1045 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers sold steady .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	124.50	to	- - -
	500	to	550 lbs.	113.50	to	- - -
	600	to	650 lbs.	104.75	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	107.25	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	97.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	93	to	- - -

Slaughter Cows, Boners 46   to   51
Light Weight 31 to 37
Bulls, Yield Grade   1   1400   to   2300 lbs.   57   to   68
Midwest Steers   - - -   at   92   to   93
Panhandle Steers   - - -   at   92   to   93

Oklahoma City Feeders
Steers	500	to	545 lbs.	117	to	127
	550	to	595 lbs.	111.50	to	117.50
Heifers	500	to	545 lbs.	102	to	109.50
	550	to	594 lbs.	100	to	108

Chicago Futures:

Live Cattle:	April	up	67	at	9615
	June	up	35	at	9397
Feeders:	April	up	42	at	10627
	May	up	35	at	10735

Cattle Comment
April live cattle futures set a new contract high again today. The market looks technically strong, but the market is overbought, so a correction could come at any time. Strong cash fundamentals continue to be supportive.

Hogs
Peoria: were $1 higher to $3     lower   at   43   to   45

Chicago Futures:	April	down	15	at	7160
	May	up	32	at	7850

Sheep
St. Paul - - -   at   - - -   to   - - -

Hogs Comment
Hogs ended mixed. Some weakness in the cash market weighed on futures, while carryover strength from the cattle pits was supportive. Seasonally, the market tends to move higher and this year’s smaller pork production estimate suggests a tighter supply situation near term.

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Poultry  Date: March 17, 2010

Eggs

New York:	Ex. Lg. 141-145; Lg. 139-143; Med. 114-118;
Chicago:	Ex. Lg. 129-137; Lg. 127-135; Med. 106-114;

Eastern Region Turkeys

Hens:	8-16 lbs	82.50
Toms:	16-24 lbs	85.00

Delmarva Broilers
U.S. Grade A
The market tone was firm. Demand was moderate to fairly good for mid week trading. Supplies of all sizes were light to moderate to satisfy current trade needs. In the parts structure, movement was moderate to good. In production areas live supplies were moderate at mostly desirable weights.