Grain & Soybean Date: October 05, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1513 to 1551
(NC) Summ. 1509 to 1548
River Elevators:
(Oct) MISS: 1562 to 1554 ; AR & White 1518 to 1549
(NC) Summ. 1514 to 1587
Ark. Processor Bids: (Oct) 1535 to 1538  (NC) 1534 to 1563
Memphis:  (Oct) 1558 1/2 to 1564 1/2 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures:	Nov	unchanged	- - -	at	1551 1/2
	Jan	unchanged	- - -	at	1551
	March	down	5 1/2	at	1513
	May	down	9 1/2	at	1460 1/2
	July	down	12	at	1442 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybean futures were unchanged to lower today. Informa released their new crop estimates today. They now believe the average soybean yield in the U.S. will be 37.8 bushels/acre, with the crop coming in at 2.86 billion bushels. Whether the market has bottomed is still in question with the gap between $14.78 and $14.93 a potential objective.

Wheat
Cash bid for October at Memphis  804 1/2 to 822 1/2;

Bids to farmers at Local Elevators	795-805;
River Elevators	805-820;

Chicago Futures:	Dec	down	11 3/4	at	857 1/2
	March	down	11	at	868 3/4
	May	down	10 1/4	at	869 1/2
	July	down	3 1/2	at	840 1/4
	Sept	down	2 3/4	at	844
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for October at Memphis  1148 to - - -;

Bids to farmers at River Elevators	1068-1113;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	October at Memphis   663 to 736;
	New Crop at Memphis   599 1/2 to 611 1/2;
Bids to farmers at River Elevators	695 to 728

Chicago Futures:	Dec	down	9	at	748
	March	down	8 3/4	at	748 1/2
	May	down	9 1/2	at	743 3/4
	July	down	8 1/2	at	737 3/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures were lower in all 2012-2013 crops. Exports continue to lag, and optimism that buyers will turn to higher priced U.S. wheat as Russia runs out is waning. This is despite the fact that Russia has announced they will release almost 1 million metric tons of grain into the domestic market to keep prices in check, another signal they are finished in the export market. The first level of support for July is last week’s low of $8.28.

Corn was also lower. Informa now estimates the average corn yield will be 127 bushels/acre, bringing the crop total to 11.194 billion bushels. 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 05, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 60 at  6724
	Greenwood down  60 at 6724

New York Futures:	Oct	down	60	at	6980
	Dec	down	60	at	7149
	March	down	79	at	7230
	May	down	68	at	7323
	July	down	55	at	7413
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was lower. 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	down	26 1/2	at	1510 1/2
	Jan	down	26	at	1543
	March	down	26	at	1571
	May	down	26	at	1591 1/2
	July	down	15 1/2	at	1624 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice seems to be in a trend of up one day and down the next right now, 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 05, 2012

Cattle
As reported by Federal-State Market News, receipts were 8935 head at sales in Arkansas this week.  Compared with last week, feeder steers sold unevenly, averaging near steady .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	167.00	to	- - -
	500	to	550 lbs.	153.00	to	- - -
	600	to	650 lbs.	139.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	153.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	136.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	137.00	to	- - -

Slaughter Cows, Boners 68.00   to   76.00
Light Weight 53.00 to 61.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   84.00   to   94.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	450	to	500 lbs.	156.00	to	184.00
	500	to	550 lbs.	140.00	to	175.00
Heifers	450	to	500 lbs.	131.00	to	156.00
	500	to	550 lbs.	128.00	to	145.00

Chicago Futures:

Live Cattle:	Oct	up	72	at	12305
	Dec	up	50	at	12620
Feeders:	Oct	up	35	at	14482
	Nov	up	37	at	14620

Cattle Comment
Cattle futures were mixed today. Nearby contracts were supported by the Labor Department’s surprising employment report, showing the lowest level of unemployment in 4 years. That is good news for meat demand.

Hogs
Peoria: were     steady   at   51.50   to   52.00

Chicago Futures:	Oct	down	47	at	8132
	Dec	up	50	at	7655

Hogs Comment
Hog futures ended mixed. December continues to trend higher, with trendline support near $74.50.

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Poultry  Date: October 05, 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	111.02
Toms:	16-24 lbs	111.61

Delmarva Broilers
U.S. Grade A
Prices are holding steady for whole broiler/fryers. Offerings are sufficient for current trade needs. Demand into retail and food service channels is moderate entering the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.