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Arkansas Farm Bureau
Grain & Soybean Date: September 27, 2012

Soybeans

Local Elevators:
(Sept) EAST AR:  - - - to - - -
(NC) Summ. 1524 to 1556
River Elevators:
(Sept) MISS: 1562 to 1571 ; AR & White 1529 to 1560
(NC) Summ. 1529 to 1573
Ark. Processor Bids: (Sept) 1554 to - - -  (NC) 1549 to 1554
Memphis:  (Sept) 1563 3/4 to 1575 3/4 (NC)  1563 3/4 to 1575 3/4
Riceland Foods:  (Sept) Stuttgart 1549 ; Pendleton 1556 
 (NC) Stuttgart 1271 ; Pendleton 1276 

Chicago Futures: Nov down 2 1/4 at  1570 3/4
  Jan  down  at  1571 1/4
  March down 7 3/4  at  1524
  May down 9 1/4  at  1479
  July down 10  at  1460
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were lower again today, but closed near the middle of the day’s trading range. The focus has shifted to general macroeconomic concerns and away from supply/demand issues. Cash prices are being supported by steady export sales, mostly to China. November has violated several levels of support this week, and could be headed for a retest of support at $15.36.

Wheat
Cash bid for September at Memphis  787 1/2 to 820 3/4;
Bids to farmers at Local Elevators 791-801;
River Elevators 801-816;

Chicago Futures: Dec down  13 3/4  at  855 1/2 
  March down 13  at  868 1/4 
  May down  13 1/2  at  870 1/4 
  July down  10 1/4  at  835 3/4 
  Sept down  7 3/4  at  838 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for September at Memphis  1056 to - - -;
Bids to farmers at River Elevators 993-1056;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for September at Memphis   621 1/4 to 681 1/4;
  New Crop at Memphis   575 1/4  to 587 1/4;
Bids to farmers at River Elevators  653 to 676

Chicago Futures: Dec down  8 1/2  at  816 1/4 
  March down  at  719 1/2 
  May down  9 3/4  at  717 
  July down  10 1/2  at  711 
  Today's Arkansas LDP rate for corn is:

Grain Comment
The selloff accelerated in wheat today. As has been expected, Russian wheat is being priced out of the market as supplies tighten. The Russian government plans to release some government stocks in order to ease prices. December violated support at $8.60 today, and that could signal a retest of support below $8.20.

Corn futures were sharply lower again today. Harvest pressure and macroeconomic concerns continue to weigh on the market. December has little technical support before $6.85.



Cotton & Rice  Date: September 27, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 51 at  6728
  Greenwood up  51 at 6728

New York Futures: Oct up  51  at  7003 
  Dec up  51  at  7153 
 March up  51  at  7249 
 May up  55  at  7351 
 July up  54  at  7459 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton turned higher, contrary to the overall negative undertone today. The weaker dollar was supportive today. However, lackluster international demand will likely continue to limit upside possibilities. China has indicated also that they will not issue any further cotton import quotas this year.

Rice
Long Grain Cash Bid for  Sept 1392/cwt  to  - - -
  NC 1470/cwt  to  - - -

Chicago Futures: Nov up  16 1/2  at  1516 1/2 
 Jan up  17 1/2  at  1548 1/2 
 March up  17 1/2  at  1576 1/2 
 May up  17 1/2  at  1595 1/2 
 July up  17 1/2  at  1617 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice continued to rebound today, regaining almost all what Tuesday’s limit losses took off the market. 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 27, 2012

Cattle
As reported by Federal-State Market News, receipts were 2330 head at sales in Charlotte, Ratcliff, & Green Forest.  Compared with last week, feeder steers sold mostly weak to $5 lower. .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 162.00 to - - -
  500 to 550 lbs. 151.00 to - - -
  600 to 650 lbs. 141.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 152.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 137.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 133.00 to - - -

Slaughter Cows, Boners 68.00   to   75.00
Light Weight 55.00 to 60.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   84.00   to   88.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 150.00 to 151.00
  500 to 600 lbs. 132.00 to 154.00
Heifers 450 to 500 lbs. 133.00 to 141.00
  500 to 550 lbs. 134.00 to 143.00

Chicago Futures:
Live Cattle: Oct up 22 at 12245
  Dec up 42 at 12517
Feeders: Sept down 17 at 14327
  Oct up 12 at 14622

Cattle Comment
Cattle futures ended mixed, with live futures mostly higher on ideas this week’s losses were overdone. Falling wholesale beef prices and technical selling pressured live cattle futures. Live cattle futures fell well below the trading range that has supported prices for the past couple of months and additional weakness looks likely. October looks likely to retest support around $119.

Hogs
Peoria: were $2.50 higher to $1.50     lower   at   47.00   to   49.00

Chicago Futures: Oct up 35 at 7722
  Dec down 77 at 7360

Hogs Comment
Hog futures were mostly lower again today, with nearby October supported by higher cash bids as packers work to fill their needs this week. The next chart resistance for the October contract is $78.



Poultry  Date: September 27, 2012

Eggs
New York:  Ex. Lg. 140-144; Lg. 138-142; Med. 112-116;
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
Whole broiler/fryer prices are holding steady. Offerings are sufficient for current trade needs. Demand into retail and food service channels is moderate approaching the weekend with trading usually limited to regular commitments. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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