Grain & Soybean Date: November 16, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1356 to 1395
(NC) Summ. 1390 to - - -
River Elevators:
(Nov) MISS: 1416 to 1428 ; AR & White 1353 to 1399
(NC) Summ. 1383 to 1428
Ark. Processor Bids: (Nov) 1383 to 1403  (NC) 1403 to - - -
Memphis:  (Nov) 1430 1/4 to 1431 1/4 (NC)  - - - to - - -
Riceland Foods:  (Nov) Stuttgart 1383 ; Pendleton 1395 
 (NC) Stuttgart 1233 ; Pendleton 1238 

Chicago Futures:	Jan	down	18 3/4	at	1383 1/4
	March	down	16	at	1368
	May	down	10 3/4	at	1351 1/2
	July	down	11	at	1343 1/2
	Aug	down	10 3/4	at	1320 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans continued the recent decline, fueled by Chinese cancellations and improving crop conditions in South America. The market made a brief rally to retrace a portion of the day’s losses. Today’s sip took January below support at $13.90 and makes the early summer low near $12.50 a prime target. November 2013 has support at $12.25, about 35 cents below the close.

Wheat
Cash bid for November at Memphis  853 to 862;

Bids to farmers at Local Elevators	805-820;
River Elevators	810-834;

Chicago Futures:	Dec	down	7 1/2	at	838
	March	down	7 1/2	at	853 3/4
	May	down	7 1/2	at	860 1/4
	July	down	8 3/4	at	845 3/4
	Sept	down	10	at	852 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for November at Memphis  1182 to 1191;

Bids to farmers at River Elevators	1102-1171;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	November at Memphis   762 to 764;
	New Crop at Memphis   598 1/2 to 603 1/2;
Bids to farmers at River Elevators	720 to 752

Chicago Futures:	Dec	up	5 3/4	at	727
	March	up	6	at	731
	May	up	6 1/2	at	726 3/4
	July	up	6 1/2	at	715 1/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures were lower today, despite a positive export report. USDA said 314,600 metric tons of wheat was sold for export this week, which was within trade expectations and 50% higher than a week ago. July took out support at Tuesday’s low which signals a possible retest of support near $8.25.

Corn rallied from early declines to close higher across the board. While export sales were poor, there are indications that sales will increase in the near future. More competition in the export market in expected as countries respond to higher price levels with increased plantings. December futures have support at $7.05.

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Cotton & Rice  Date: November 16, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 123 at  6973
	Greenwood down  123 at 6973

New York Futures:	Dec	down	123	at	7273
	March	up	40	at	7264
	May	up	42	at	7354
	July	up	43	at	7453
	Oct	up	33	at	7625
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton closed mixed with December retracing a portion of yesterday’s gains. The market continues to trade in a sideways pattern between 68 and 78 cents. Growing world stocks and poor demand are limiting upside and this is likely to continue to be the case for the foreseeable future.

Rice

Long Grain Cash Bid for	Nov	1345/cwt	to	- - -
	NC	1412/cwt	to	- - -

Chicago Futures:	Jan	down	2	at	1484 1/2
	March	down	2 1/2	at	1516
	May	down	2 1/2	at	1544
	July	down	2 1/2	at	1562 1/2
	Sept	down	2 1/2	at	1512
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures were slightly lower to close the week. 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.

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Cattle & Hogs  Date: November 16, 2012

Cattle
As reported by Federal-State Market News, receipts were 8950 head at sales in Arkansas this week.  Compared with last week, feeder steers sold uneven, mostly steady to $3 lower .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	179.00	to	- - -
	500	to	550 lbs.	135.00	to	- - -
	600	to	650 lbs.	136.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	163.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	135.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	138.50	to	- - -

Slaughter Cows, Boners 68.00   to   75.00
Light Weight 53.00 to 60.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   82.00   to   90.00
Midwest Steers   were   at   125.00   to   - - -
Panhandle Steers   were   at   126.00   to   - - -

Oklahoma City Feeders
Steers	450	to	500 lbs.	161.00	to	172.50
	500	to	550 lbs.	156.00	to	165.00
Heifers	450	to	500 lbs.	144.00	to	147.25
	500	to	550 lbs.	138.00	to	144.50

Chicago Futures:

Live Cattle:	Dec	up	55	at	12615
	Feb	up	65	at	13002
Feeders:	Nov	up	45	at	14560
	Jan	up	52	at	14812

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

Hogs
Peoria: were $1 lower to $3     higher   at   49.00   to   51.00

Chicago Futures:	Dec	up	25	at	8032
	Feb	up	30	at	8645

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.

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Poultry  Date: November 16, 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	107.07
Toms:	16-24 lbs	112.92

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