Grain & Soybean Date: October 10, 2012

Soybeans

Local Elevators:
(Oct) EAST AR:  1483 to 1522
(NC) Summ. 1489 to 1528
River Elevators:
(Oct) MISS: 1531 to 1535 ; AR & White 1489 to 1523
(NC) Summ. 1495 to 1560
Ark. Processor Bids: (Oct) 1509 to 1518  (NC) 1515 to 1536
Memphis:  (Oct) 1529 1/4 to 1540 1/4 (NC)  - - - to - - -
Riceland Foods:  (Oct) Stuttgart 1509 ; Pendleton 1522 
 (NC) Stuttgart 1305 ; Pendleton 1310 

Chicago Futures:	Nov	down	26 3/4	at	1523 1/4
	Jan	down	25 1/2	at	1523 3/4
	March	down	17	at	1487 1/4
	May	down	12	at	1428 1/2
	July	down	9 1/4	at	1428 1/2
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans were hit by heavy selling which pushed front end contracts sharply lower by noon. This was in response to tomorrow’s report which is expected to show a large production number for the U.S. Also, big planting increases are expected in South America. Last week’s low of $15.04 remains critical support. A move below that level would have two potential targets, the breakaway gap of early July at $14.78 or 38% retracement objective at $14.57. A rebound in the market is probably, at some point, with a target of $16 or higher.

Wheat
Cash bid for October at Memphis  816 3/4 to 834 3/4;

Bids to farmers at Local Elevators	801-811;
River Elevators	811-831;

Chicago Futures:	Dec	up	5 1/2	at	869 3/4
	March	up	5 1/4	at	881
	May	up	5	at	881 1/2
	July	up	3 1/4	at	846 1/4
	Sept	up	2 1/2	at	849 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for October at Memphis  1137 to - - -;

Bids to farmers at River Elevators	1057-1128;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	October at Memphis   656 3/4 to 731 3/4;
	New Crop at Memphis   598 3/4 to 625 3/4;
Bids to farmers at River Elevators	692 to 722

Chicago Futures:	Dec	down	5 1/4	at	736 3/4
	March	down	4 1/2	at	737 3/4
	May	down	4	at	732 1/2
	July	down	3 1/2	at	726 3/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures were higher again today. Tomorrow’s report is expected to be bullish for prices. Expectations are for a lower crop estimate for Russia, Ukraine and Australia, resulting in a lower ending stocks number. However, the lack of export demand for U.S. wheat will continue to limit the upside.

Corn also was pressured in early trading with December holding well above the recent low at $7.05. World financial instability has investors hunting safe havens which means a lot of position evening ahead of tomorrow’s report. While corn yields appear to be improving, the general feeling is harvested acreage will decline lowering the production number by 125 million bushels or so.

---

Cotton & Rice  Date: October 10, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis up 26 at  6785
	Greenwood up  26 at 6785

New York Futures:	Dec	up	26	at	7210
	March	up	28	at	7302
	May	up	33	at	7405
	July	up	37	at	7493
	Oct	up	37	at	7597
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was narrowly mixed at midday. A slower growth rate for China and huge stocks don’t well for cotton. China has 34 to 35 million bales of cotton stocks and isn’t expected to purchase as much U.S. cotton as they normally do. Producers in the U.S. are expected to decrease plantings in favor of corn & soybeans. Eventually that will help cotton.

Rice

Long Grain Cash Bid for	Oct	1378cwt	to	- - -
	NC	1467/cwt	to	- - -

Chicago Futures:	Nov	down	20 1/2	at	1502 1/2
	Jan	down	20 1/2	at	1535
	March	down	20 1/2	at	1563
	May	down	20	at	1585 1/2
	July	down	21	at	1607
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
A Rice future continued yesterday’s downturn and was trading just above last week’s low at noon. Production numbers should decline as a result of damage by Hurricane Isaac. This has been cussed and discussed for the last month. Improved export demand will be needed to get the market off dead center. November futures have strong resistance at $15.50.

---

Cattle & Hogs  Date: October 10, 2012

Cattle
As reported by Federal-State Market News, receipts were 888 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly $2 to $4 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	167.00	to	- - -
	500	to	550 lbs.	148.00	to	- - -
	600	to	650 lbs.	139.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	137.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	134.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	133.00	to	- - -

Slaughter Cows, Boners 68.00   to   75.00
Light Weight 52.00 to 57.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   83.00   to   91.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	450	to	500 lbs.	156.00	to	169.00
	500	to	550 lbs.	147.00	to	160.00
Heifers	450	to	500 lbs.	132.00	to	145.00
	500	to	550 lbs.	127.00	to	140.00

Chicago Futures:

Live Cattle:	Oct	up	22	at	12492
	Dec	down	15	at	12657
Feeders:	Oct	up	2	at	14472
	Nov	steady	- - -	at	14670

Cattle Comment
Cattle futures were mixed. Nearby live cattle contracts were supported by expectations for higher cash trade in the $125 area this week.

Hogs
Peoria: were $2 lower to $2     higher   at   52.00   to   54.00

Chicago Futures:	Oct	up	67	at	8257
	Dec	up	130	at	7810

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

---

Poultry  Date: October 10, 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. Demand is moderate for mid-week business. Market activity is mostly moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.