Grain & Soybean Date: November 15, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1375 to 1414
(NC) Summ. 1372 to 1411
River Elevators:
(Nov) MISS: 1435 to 1452 ; AR & White 1372 to 1418
(NC) Summ. 1374 to 1452
Ark. Processor Bids: (Nov) 1402 to 1422  (NC) 1399 to 1422
Memphis:  (Nov) 1449 to 1450 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1402 ; Pendleton 1414 
 (NC) Stuttgart 1241 ; Pendleton 1246 

Chicago Futures:	Jan	down	17	at	1402
	March	down	14 3/4	at	1384
	May	down	15	at	1362 1/4
	July	down	11 3/4	at	1354 1/2
	Aug	down	9 1/2	at	1331
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans were lower today pressured by outside markers and economic news. Good weather in South America continues to be a negative factor for the market. Argentina projected an almost 4% increase in plantings about 48 million acres. Some private forecasts are higher. Technically, January soybeans are just above $14 with key support just a dime or so lower. Inability to hold here could see the market move toward the early June low near $12.60.

Wheat
Cash bid for November at Memphis  855 1/2 to 860 1/2;

Bids to farmers at Local Elevators	809-829;
River Elevators	819-844;

Chicago Futures:	Dec	down	3 1/4	at	845 1/2
	March	down	2 3/4	at	861 1/4
	May	down	3	at	867 3/4
	July	down	4 1/4	at	854 1/2
	Sept	down	5 1/4	at	862 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for November at Memphis  1172 to 1181;

Bids to farmers at River Elevators	1091-1154;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	November at Memphis   755 1/4 to 756 1/4;
	New Crop at Memphis   597 1/4 to 602 1/4;
Bids to farmers at River Elevators	714 to 746

Chicago Futures:	Dec	down	4 1/2	at	721 1/4
	March	down	4 1/4	at	725
	May	down	4 3/4	at	720 1/4
	July	down	4 3/4	at	708 3/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
The price action in wheat turned negative today. Pressure from outside markets carried over into wheat, with lower crude oil and stock markets impacting prices. Deteriorating crop conditions, though, could keep a floor under prices. July is working to build on support at Tuesday’s low of $8.47, but a close below that level would signal further weakness, possibly a retest of support near $8.25.

Corn declined slightly with old crop contracts generally trading above 7.00. December continues to have long term support at $7.05. There is talk of improving export demand as South American supplies dwindle and price there continues to rise. Gulf basis levels firmed again today as exporters attempt to entice corn down the Mississippi.

---

Cotton & Rice  Date: November 15, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis up 233 at  7096
	Greenwood up  233 at 7096

New York Futures:	Dec	up	233	at	7396
	March	up	98	at	7224
	May	up	72	at	7312
	July	up	60	at	7410
	Oct	up	60	at	7592
This week's LDP rate for cotton is					cents
	The estimate for next week is				cents

Cotton Comment
Cotton firmed again today as the market attempts to retrace a portion of recent declines. Overall upside potential will be limited by demand and huge world stocks.

Rice

Long Grain Cash Bid for	Nov	1347/cwt	to	- - -
	NC	1415/cwt	to	- - -

Chicago Futures:	Jan	up	21 1/2	at	1486 1/2
	March	up	22	at	1518 1/2
	May	up	22 1/2	at	1546 1/2
	July	up	21	at	1565
	Sept	up	21	at	1514 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures rallied back to the previous support level at $14.86. Demand for U.S. rice remains good despite milling quality problems. The international market ranges to major extremes. Thai interventions are being held at artificially high levels which are limiting sales. At the same time business in Vietnam and India has been brisk. Logistics problems are weighing on the market in India and that is likely to curtail sales. In the U.S. rice plantings are expected to decline as corn and soybean price levels pull acreage.

---

Cattle & Hogs  Date: November 15, 2012

Cattle
As reported by Federal-State Market News, receipts were 1746 head at sales in Charlotte, Ratcliff, & Green Forest.  Compared with last week, feeder steers sold mostly weak to $5 lower .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	170.00	to	- - -
	500	to	550 lbs.	156.00	to	- - -
	600	to	650 lbs.	142.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	157.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	132.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	130.50	to	- - -

Slaughter Cows, Boners 66.00   to   73.00
Light Weight 58.00 to 66.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   83.00   to   90.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	- - -	to	- - - lbs.	- - -	to	- - -
	- - -	to	- - - lbs.	- - -	to	- - -
Heifers	- - -	to	- - - lbs.	- - -	to	- - -
	- - -	to	- - - lbs.	- - -	to	- - -

Chicago Futures:

Live Cattle:	Dec	up	17	at	12560
	Feb	up	25	at	12937
Feeders:	Nov	up	20	at	14340
	Jan	up	27	at	14515

Cattle Comment
Cattle futures ended mostly higher. Demand concerns continue to weigh on the market, but expectations for USDA to report smaller October placements were supportive. Next week’s holiday shortened schedule is impacting packer demand and bids as well.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures:	Dec	down	2	at	8007
	Feb	up	10	at	8615

Hogs Comment
Hog futures were mixed. Supplies remain higher than expected, but lighter carcass weights are helping keep a lid on supplies. Cash hog markets are weak, as packers needs are lighter due to the holiday.

---

Poultry  Date: November 15, 2012

Eggs

New York:	Ex. Lg. 138-142; Lg. 136-140; Med. 111-115;
Chicago:	Ex. Lg. 127-135; Lg. 125-133; Med. 106-114;

National Turkeys

Hens:	8-16 lbs	110.04
Toms:	16-24 lbs	111.37

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers are trending higher. Offerings are light. Demand is moderate to instances good for mid-week business. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.