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Arkansas Farm Bureau
Grain & Soybean Date: October 08, 2012

Due to Columbus Day some prices are unavailable.

Soybeans

Local Elevators:
(Oct) EAST AR:  - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(Oct) MISS: - - - to - - - ; AR & White - - - to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (Oct) - - - to - - -  (NC) - - - to - - -
Memphis:  (Oct) - - - to - - - (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Nov down 1/2 at  1551
  Jan  down  at  1548
  March down 11  at  1502
  May down 10 3/4  at  1449 3/4
  July down 6 1/2  at  1435 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans ended the Columbus Day holiday lower as continued talk of improving yields and negative outside markets pressured the market. Harvest continues to advance quickly and is expected to be over 50% when the crop progress report is released tomorrow. While last week’s completion of a 50% retracement of the late summer rally may be harvest low, this week’s supply/demand report could push November to fill the July 3 gap at $14.78. While this crop is getting larger, supply will remain tight, limiting downside pressure at some point.

Wheat
Cash bid for October at Memphis  - - - to - - -;
Bids to farmers at Local Elevators - - -;
River Elevators - - -;

Chicago Futures: Dec up  3 1/2  at  861 
  March up 2 1/2  at  871 1/4 
  May up  2 1/4  at  871 3/4 
  July up  1/2  at  840 3/4 
  Sept up  at  845 
  Today's Arkansas LDP rate for wheat is:

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

Corn
Cash bid for October at Memphis   - - - to - - -;
  New Crop at Memphis   - - - to - - -;
Bids to farmers at River Elevators  - - - to - - -

Chicago Futures: Dec down  at  742 
  March down  6 1/2  at  742 
  May down  7 1/2  at  736 1/4 
  July down  7 3/4  at  730 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures turned higher today. The trade is expecting Thursday’s report to be bullish. Expectations are for a lower crop estimate for Russia, Ukraine and Australia, resulting in a lower ending stocks number.

Corn may see a slight bump in yield in Thursdays report. If not in this report, in a subsequent one. So, stocks are likely to tighten slightly, at least the quarterly stocks report suggested there will be less corn to start the year than thought. December’s recent low at $7.05 is major support as we move forward.



Cotton & Rice  Date: October 08, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis  - - - at  - - -
  Greenwood   - - - at - - -

New York Futures: Oct up  63  at  7043 
  Dec up  29  at  7178 
 March up  32  at  7262 
 May up  34  at  7357 
 July up  29  at  7442 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was s lightly higher, but December futures in a narrow trading range below 72 cents. There are indications China will be importing substantially less cotton in 2013, but they are still buying on market declines and that should limit the downside. The cotton market may still be a year away from major improvement. Could be less if world economic conditions improve and 2013 plantings dip significantly.

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

Chicago Futures: Nov up  26  at  1536 1/2 
 Jan up  26  at  1569 
 March up  26  at  1597 
 May up  27  at  1618 1/2 
 July up  16 1/2  at  1641 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice retraced last Friday’s decline to close near the top of a 6 or 7 day consolidation area. Additional resistance rests at the recent high near $15.50. There is little in the way of fundamentals to suggest any significant improvement in this market. However, stranger things have happened and one national publication recently suggested the rice market could pop because of dry conditions and increased corn plantings in Brazil. Time will tell.



Cattle & Hogs  Date: October 08, 2012

Cattle
As reported by Federal-State Market News, receipts were - - - head at sales in - - -.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners - - -   to   - - -
Light Weight - - - to - - -
Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were   at   121.00   to   124.50
Panhandle Steers   were   at   124.00   to   124.00

Oklahoma City Feeders
Steers 450 to 500 lbs. 169.00 to 174.00
  500 to 550 lbs. 158.00 to 172.00
Heifers 400 to 450 lbs. 155.00 to 160.00
  500 to 550 lbs. 141.50 to 143.00

Chicago Futures:
Live Cattle: Oct up 30 at 12335
  Dec up 20 at 12640
Feeders: Oct steady - - - at 14482
  Nov up 10 at 14630

Cattle Comment
Cattle futures were mostly higher. Live contracts were higher on expectations for higher cash trade today. Feeders were supported by higher live cattle prices and weakness in the corn pit.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures: Oct up 15 at 8147
  Dec up 32 at 7687

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



Poultry  Date: October 08, 2012

Eggs
New York:  Ex. Lg. 134-142; Lg. 132-140; Med. 105-113;
Chicago:  Ex. Lg. 117-121; Lg. 115-119; Med. 94-98;

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.

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