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Arkansas Farm Bureau
Grain & Soybean Date: September 25, 2012

Soybeans

Local Elevators:
(Sept) EAST AR:  - - - to - - -
(NC) Summ. 1555 to 1582
River Elevators:
(Sept) MISS: 1594 to 1612 ; AR & White 1566 to 1591
(NC) Summ. 1560 to 1612
Ark. Processor Bids: (Sept) 1585 to - - -  (NC) 1580 to 1585
Memphis:  (Sept) 1606 1/2 to 1611 1/2 (NC)  1606 1/2 to 1616 1/2
Riceland Foods:  (Sept) Stuttgart 1580 ; Pendleton 1587 
 (NC) Stuttgart 1307 ; Pendleton 1312 

Chicago Futures: Nov up 1 1/2 at  1611 1/2
  Jan  up  3 1/4  at  1614 1/4
  March up 4 1/4  at  1576 1/2
  May up 5 3/4  at  1526
  July up 5 3/4  at  1505 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were a bit higher today. Traders may be inclined to wait for the stocks report to be released later this week, even though the changes in the monthly supply/demand report likely telegraph what that report will say. Traders are expecting September 1 stocks to come in at 130 million bushels. November has support at $15.93, below that level support at $15.82 comes back into play.

Wheat
Cash bid for September at Memphis  818 1/2 to - - -;
Bids to farmers at Local Elevators 816-826;
River Elevators 826-841;

Chicago Futures: Dec down  5 1/2  at  886 1/2 
  March down 5 1/2  at  898 1/4 
  May down  5 1/4  at  899 
  July down  at  860 1/2 
  Sept down  2 1/4  at  862 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for September at Memphis  1105 to - - -;
Bids to farmers at River Elevators 1025-1060;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for September at Memphis   648 3/4 to 708 3/4;
  New Crop at Memphis   605 1/4 to 617 1/4;
Bids to farmers at River Elevators  669 to 704

Chicago Futures: Dec down  at  743 3/4 
  March down  1 1/4  at  747 1/2 
  May down  1 1/4  at  746 
  July unchanged  - - -  at  740 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was under pressure again today. The trade expects September 1 wheat stocks to be 2.27 billion bushels. Friday’s small grains summary is expected to show soft red winter wheat acres of 433 million for 2013, down from the previous estimate of 435 million.

Corn futures ended mixed, with nearby contracts under pressure as the early harvest rolls on. The trade expects September 1 corn stocks to come in near 1.15 billion bushels, up from a year ago but down from the 1.13 billion in the recent supply/demand report. December has support near $7.40 and then near $7.30.



Cotton & Rice  Date: September 25, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 17 at  6808
  Greenwood down  17 at 6808

New York Futures: Oct down  20  at  7081 
  Dec down  17  at  7233 
 March down  30  at  7320 
 May down  47  at  7410 
 July down  24  at  7508 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton followed the crowd lower again today. Lackluster international demand continues to weigh on the market. China has indicated also that they will not issue any further cotton import quotas this year. The next level of support for December is at 71.59 cents.

Rice
Long Grain Cash Bid for  Sept 1364/cwt  to  - - -
  NC 1441/cwt  to  - - -

Chicago Futures: Nov down  30  at  1488 1/2 
 Jan down  30  at  1519 
 March down  30 1/2  at  1546 1/2 
 May down  30  at  1567 1/2 
 July down  29   at  1588 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice fell the limit today as the recent rally ran out of steam. Ample world supplies and continued slow export demand will limit upside movement. November has support at $14.70 and the $14.54.



Cattle & Hogs  Date: September 25, 2012

Cattle
As reported by Federal-State Market News, receipts were 1301 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold steady to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 167.00 to - - -
  500 to 550 lbs. 148.00 to - - -
  600 to 650 lbs. 139.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 151.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 125.00 to - - -

Slaughter Cows, Boners 70.00   to   77.00
Light Weight 51.00 to 58.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   93.00   to   97.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 145.00 to 168.00
  500 to 550 lbs. 148.00 to 165.00
Heifers 450 to 500 lbs. 135.00 to 145.00
  500 to 550 lbs. 130.00 to 139.50

Chicago Futures:
Live Cattle: Oct down 260 at 12270
  Dec down 300 at 12540
Feeders: Sept down 57 at 14320
  Oct down 222 at 14517

Cattle Comment
Cattle futures were lower across the board today. Falling wholesale beef prices and technical selling were the impetus for the move. Live cattle futures fell well below the trading range that has supported prices for the past couple of months and additional weakness looks likely.

Hogs
Peoria: were $.50 lower to $3.50     higher   at   46.50   to   48.50

Chicago Futures: Oct down 22 at 7627
  Dec down 70 at 7465

Hogs Comment
Hog futures also lower across the board. Carryover weakness from the cattle pits was impossible to overcome; however, weakness was limited for hogs by improving cash market fundamentals. The next chart resistance for the October contract is nearly $2 higher at $78.



Poultry  Date: September 25, 2012

Eggs
New York:  Ex. Lg. 148-152; Lg. 146-150; Med. 123-127;
Chicago:  Ex. Lg. 142-150; Lg. 140-148; Med. 116-124;

National Turkeys
Hens: 8-16 lbs 110.00
Toms: 16-24 lbs 110.50
 

Delmarva Broilers
U.S. Grade A
Prices are holding steady for whole broiler/fryers. Offerings of all sizes are sufficient for current trade needs. Demand into retail and food service channels is moderate with trading usually limited to regular commitments. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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