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Arkansas Farm Bureau
Grain & Soybean Date: October 09, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1510 to 1549
(NC) Summ. 1515 to 1553
River Elevators:
(Oct) MISS: 1558 to 1562 ; AR & White 1516 to 1550
(NC) Summ. 1520 to 1585
Ark. Processor Bids: (Oct) 1536 to 1545  (NC) 1540 to 1561
Memphis:  (Oct) 1558 to 1563 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart 1536 ; Pendleton 1549 
 (NC) Stuttgart 1308 ; Pendleton 1313 

Chicago Futures: Nov down 1 at  1550
  Jan  up  1 1/4  at  1549 1/4
  March up 2 1/4  at  1504 1/4
  May up at  1451 1/4
  July up at  1437 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans traded higher throughout most of the electronic session before closing narrowly mixed as traders await the October supply demand report. A slightly larger crop is anticipated and when combined with a 10% increase in Brazil’s plantings it has pressured prices. November closed just under $15.50, or almost $2.40 off the recent high. The market appears to have bottomed, but Thursday’s report could move November toward lower objectives at $14.78 or $14.57 if yields are better than anticipated. At some point, the market could rebound toward $16.50.

Wheat
Cash bid for October at Memphis  811 1/4 to 829 1/4;
Bids to farmers at Local Elevators 798-808;
River Elevators 808-828;

Chicago Futures: Dec up  3 1/4  at  864 1/4 
  March up 4 1/2  at  875 3/4 
  May up  4 3/4  at  876 1/2 
  July up  2 1/4  at  843 
  Sept up  1 3/4  at  846 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for October at Memphis  1146 to - - -;
Bids to farmers at River Elevators 1057-1138;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for October at Memphis   662 to 737;
  New Crop at Memphis   599 to 626;
Bids to farmers at River Elevators  697 to 727

Chicago Futures: Dec unchanged  - - -  at  742 
  March up  1/4  at  742 1/4 
  May up  1/4  at  736 1/4 
  July up  1/4  at  730 1/4 
  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 market traded around yesterday’s close through much of the session. Late harvest yields are better than expected, but more acreage is expected to be abandoned and the average trade estimate is for a production number around 10.6 billion, down 127 million from September. Retracement objectives of 7.77 and 7.94 for the December contract could come into play on a lower production number. The recent low near $7.05 should be solid support.



Cotton & Rice  Date: October 09, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 35 at  6759
  Greenwood up  35 at 6759

New York Futures: Oct up  at  7049 
  Dec up  at  7184 
 March up  12  at  7274 
 May up  15  at  7372 
 July up  14  at  7456 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton firmed ever so slightly as December continues to fold near the bottom of a trading range (77.5 to 70 cents) that has persisted since late June. Good yields in the midsouth will partially offset higher abandonment in Texas. Slow world economic conditions, including China, don’t bode well for cotton, as it tries to reclaim lost market share. China will bargain hunt but is expected to import substantially less Cotton during the 2012-13 season.

Rice
Long Grain Cash Bid for  Oct 1398/cwt  to  - - -
  NC 1488/cwt  to  - - -

Chicago Futures: Nov down  13 1/2  at  1523 
 Jan down  13 1/4  at  1555 1/2 
 March down  13 1/2  at  1583 1/2 
 May down  13  at  1605 1/2 
 July down  13  at  1628 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice reversed yesterday’s gains and closed lower in the active front end contracts. Lower plated acreage in South America, and possibly next springs in the U.S. could be a springboard to firmer price levels. However, at this juncture there is nothing solid to hang your hat on. November futures have strong resistance around $15.50.



Cattle & Hogs  Date: October 09, 2012

Cattle
As reported by Federal-State Market News, receipts were 2970 head at sales in Ft. Smith, Heber Springs, Springdale & Ash Flat.  Compared with last week, feeder steers sold mostly firm to $5 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 175.00 to - - -
  500 to 550 lbs. 156.00 to - - -
  600 to 650 lbs. 138.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 163.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 136.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 140.00 to - - -

Slaughter Cows, Boners 70.00   to   78.00
Light Weight 53.00 to 61.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   84.00   to   93.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 164.00 to 173.00
  500 to 550 lbs. 154.50 to 169.50
Heifers 450 to 500 lbs. 138.00 to 155.00
  500 to 550 lbs. 133.50 to 143.50

Chicago Futures:
Live Cattle: Oct up 135 at 12470
  Dec up 32 at 12672
Feeders: Oct down 12 at 14470
  Nov up 40 at 14670

Cattle Comment
Cattle futures were mostly higher. Live contracts were higher on expectations for higher cash trade in the $125 area this week. Feeders were supported by higher live cattle prices. A stronger dollar and weaker stock markets limited gains.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures: Oct up 47 at 8190
  Dec down 7 at 7680

Hogs Comment
Hog futures were mostly higher. December continues to trend higher, but has resistance at $77.75.



Poultry  Date: October 09, 2012

Eggs
New York:  Ex. Lg. 117-121; Lg. 115-119; Med. 94-98;
Chicago:  Ex. Lg. 110-118; Lg. 108-116; Med. 85-93;

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 with trading usually limited to regular commitments. Demand into retail and food service channels is moderate following the holiday the weekend. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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