Grain & Soybean Date: October 04, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1512 to 1551
(NC) Summ. 1509 to 1548
River Elevators:
(Oct) MISS: 1552 to 1562 ; AR & White 1518 to 1549
(NC) Summ. 1514 to 1587
Ark. Processor Bids: (Oct) 1535 to 1538  (NC) 1534 to 1563
Memphis:  (Oct) 1559 1/2 to 1564 1/2 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures:	Nov	up	19 3/4	at	1551 1/2
	Jan	up	18 3/4	at	1551
	March	up	17	at	1518 1/2
	May	up	5 3/4	at	1470
	July	up	2 1/2	at	1454 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Current crop soybeans rallied strongly today in reaction to positive export news and bargain buying after November completed a 50% retracement of the June to September rally yesterday. Whether the market has bottomed is still in question with the gap between $14.78 and $14.93 a potential objective. USDA reported export sales of 1.3 million metric tons last week, significantly higher than the average trade guess of 700,000 to 900,000 bushels.

Wheat
Cash bid for October at Memphis  816 1/4 to 834 1/4;

Bids to farmers at Local Elevators	799-809;
River Elevators	809-824;

Chicago Futures:	Dec	down	3 3/4	at	869 1/4
	March	down	4 1/4	at	879 3/4
	May	down	4 3/4	at	879 3/4
	July	down	7 3/4	at	843 3/4
	Sept	down	8 1/2	at	846 3/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for October at Memphis  1164  to - - -;

Bids to farmers at River Elevators	1066-1129;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	October at Memphis   667 to 745;
	New Crop at Memphis   606 3/4 to 618 3/4;
Bids to farmers at River Elevators	699 to 737

Chicago Futures:	Dec	up	1/4	at	757
	March	down	1/4	at	757 1/4
	May	up	1/4	at	753 1/4
	July	up	1/4	at	746 1/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures were lower across the board. Export totals for last week were disappointing at 307,000 metric tons, down 28% from a week earlier. The first level of support for July is last week’s low of $8.28.

Corn was narrowly mixed. Exports totaled 326,900 metric tons last week. Cumulative exports are down 25% from a year ago. New Crop 2013 corn appears to be developing good support between $6.00 and $6.25, with strong resistance around $6.50 to $6.60.

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Cotton & Rice  Date: October 04, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 7 at  6784
	Greenwood down  7 at 6784

New York Futures:	Oct	down	14	at	7040
	Dec	down	7	at	7209
	March	up	12	at	7309
	May	up	20	at	7391
	July	up	23	at	7468
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was mixed. There is little to suggest that this market will catch fire in the near future. Poor world economic conditions and a slowing Chinese economy don’t bode well for cotton, especially with huge stocks looming over the market. Support at 70 cents appears solid at this point. Like rice, some mid-south cotton acreage will shift to corn and beans in 2013.

Rice

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

Chicago Futures:	Nov	up	13	at	1537
	Jan	up	8 1/2	at	1569
	March	up	13 1/2	at	1597
	May	up	12	at	1617 1/2
	July	up	11 1/2	at	1640
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice was higher today, and continues to hold in a sideway consolidation pattern. The market remains fairly quiet as the harvest proceeds. Generally speaking it appears yields are down about 10% after Isaac. Quality is a problem in some areas with milling yields below normal. As we look ahead to 2013, some acreage could be lost to beans and corn.

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Cattle & Hogs  Date: October 04, 2012

Cattle
As reported by Federal-State Market News, receipts were 1153 head at sales in Ratfliff & Green Forest.  Compared with last week, feeder steers sold mostly firm to $7 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	167.00	to	- - -
	500	to	550 lbs.	155.00	to	- - -
	600	to	650 lbs.	142.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	151.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	138.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	136.00	to	- - -

Slaughter Cows, Boners 70.00   to   76.00
Light Weight 62.00 to 67.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   84.00   to   89.00
Midwest Steers   were   at   124.00   to   - - -
Panhandle Steers   were   at   124.00   to   - - -

Oklahoma City Feeders
Steers	450	to	500 lbs.	160.00	to	174.00
	500	to	550 lbs.	150.00	to	160.00
Heifers	450	to	500 lbs.	137.00	to	149.00
	500	to	550 lbs.	129.00	to	139.00

Chicago Futures:

Live Cattle:	Oct	down	75	at	12232
	Dec	down	32	at	12570
Feeders:	Oct	down	82	at	14447
	Nov	down	97	at	14582

Cattle Comment
Cattle futures were under pressure today. Nearby contracts are feeling the burden of large fed cattle supplies. Deferred contracts were lower today on demand uncertainty, despite strong exports.

Hogs
Peoria: were steady to $1     higher   at   51.50   to   52.00

Chicago Futures:	Oct	up	177	at	8180
	Dec	up	17	at	7605

Hogs Comment
Hog futures were mostly lower today as traders took profits after the recent rally. Nearby contracts were supported by a weaker dollar and stronger cash prices.

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Poultry  Date: October 04, 2012

Eggs

New York:	Ex. Lg. 117-121; Lg. 115-119; Med. 94-98;
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 are sufficient for current trade needs. Demand is moderate approaching the weekend. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.