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Arkansas Farm Bureau
Grain & Soybean Date: October 01, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1513 to 1552
(NC) Summ. 1521 to 1560
River Elevators:
(Oct) MISS: 1547 to 1565 ; AR & White 1518 to 1554
(NC) Summ. 1526 to 1599
Ark. Processor Bids: (Oct) 1538 to 1543  (NC) 1546 to 1575
Memphis:  (Oct) 1564 1/4 to 1565 1/4 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Nov down 40 3/4 at  1560 1/4
  Jan  down  39 3/4  at  1563
  March down 34 3/4  at  1529 1/2
  May down 33  at  1488 1/2
  July down 27 1/2  at  1469 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans couldn’t maintain Fridays grain stocks report enthusiasm and quickly turned lower in the overnight E trade. November closed at the lowest level in nearly two months and appears headed toward support at $15.36 or the 50% retracement objective of 15.29. Lower may even be a possibility/outside markets failed to provide any support as funds continued to take profit.

Wheat
Cash bid for October at Memphis  834 1/4 to - - -;
Bids to farmers at Local Elevators 809-819;
River Elevators 819-834;

Chicago Futures: Dec down  18 1/4  at  884 1/4 
  March down 16 1/4  at  896 
  May down  11 1/4  at  895 
  July down  13 1/4  at  853 3/4 
  Sept down  12 1/2  at  856 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for October at Memphis  1119 to 1164;
Bids to farmers at River Elevators 1066-1128;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for October at Memphis   713 3/4 to 736 3/4;
  New Crop at Memphis   612 3/4 to 627 3/4;
Bids to farmers at River Elevators  694 to 732

Chicago Futures: Dec up  1/2  at  756 3/4 
  March up  1/2  at  760 
  May down  3/4  at  755 3/4 
  July down  1/2  at  748 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were down hard today, retracing a significant portion of Friday’s big gains. There is building evidence that Russia’s wheat supply is dwindling, but U.S. wheat is still struggling for market share. The first level of support for July is last week’s low of $8.28.

Corn ended the session steady to slightly higher as last Friday’s bullish stocks report continued to provide limited support. December broke a short tern downtrend early in the session but failed to hold gains and closed right of the trendline. This could lead to further downward thrusts as harvest activities remain heavy.



Cotton & Rice  Date: October 01, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 55 at  6695
  Greenwood up  55 at 6695

New York Futures: Oct up  56  at  6971 
  Dec up  55  at  7120 
 March up  52  at  7220 
 May up  38  at  7314 
 July up  17  at  7408 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was slightly higher but the market remains in a downward trend, which could carry to support at 69.5 cents or even 67.15 cents or lower. Ample world stocks and a slow economic recovery, coupled with a slowing Chinese economy don’t bode well for cotton as it attempts to regain market share from man-made fibers.

Rice
Long Grain Cash Bid for  Oct - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Nov down  23 1/2  at  1524 
 Jan down  23  at  1556 
 March down  23  at  1584 
 May down  22 1/2  at  1606 
 July down  22 1/2  at  1628 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures failed to hold Friday’s gains as the market made a downward retracement and closed sharply lower. November again hit resistance around $15.50. Upside potential will be limited by big world stocks and poor overall export demand.



Cattle & Hogs  Date: October 01, 2012

Cattle
As reported by Federal-State Market News, receipts were 1938 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold uneven, near steady .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 168.00 to - - -
  500 to 550 lbs. 155.00 to - - -
  600 to 650 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 150.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 134.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 132.00 to - - -

Slaughter Cows, Boners 67.00   to   75.00
Light Weight 56.00 to 63.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   84.00   to   92.50
Midwest Steers   were   at   123.00   to   - - -
Panhandle Steers   were   at   123.00   to   - - -

Oklahoma City Feeders
Steers 400 to 500 lbs. 160.00 to 178.00
  500 to 600 lbs. 149.50 to 157.50
Heifers 400 to 500 lbs. 137.00 to 156.00
  500 to 550 lbs. 139.00 to 143.00

Chicago Futures:
Live Cattle: Oct up 95 at 12302
  Dec up 142 at 12612
Feeders: Oct up 87 at 14467
  Nov up 127 at 14562

Cattle Comment
Cattle futures were lower across the board. Cattle futures were higher across the board. Feeders were supported by profit taking after Friday’s sharp losses. October live futures look likely to retest support around $119.

Hogs
Peoria: were     steady   at   49.00   to   49.50

Chicago Futures: Oct up 37 at 7757
  Dec up 137 at 7512

Hogs Comment
Hog futures were higher again today on Friday’s inventory report. The report confirmed that farmers are liquidating herds. The total number of hogs weighing under 119 lbs. was 99.9% of last year’s total.



Poultry  Date: October 01, 2012

Eggs
New York:  Ex. Lg. 136-140; Lg. 134-138; Med. 107-111;
Chicago:  Ex. Lg. 134-142; Lg. 132-140; Med. 105-113;

National Turkeys
Hens: 8-16 lbs 110.86
Toms: 16-24 lbs 112.56
 

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 for early week business. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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