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Arkansas Farm Bureau
Grain & Soybean Date: November 21, 2012

This report contains mid-day prices. Our next full report will be Monday, November, 26, 2012.

Soybeans

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

Chicago Futures: Jan down 3 3/4 at  1409
  March  up  14 1/4  at  1396 1/4
  May up 13 1/4  at  1379
  July up 13 1/2  at  1372 1/4
  Aug up 13 1/4  at  1349 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were a little lower heading into Thanksgiving. January futures held above $14 but there doesn’t seem to be much upward momentum and the question is whether the market has made a harvest low. Big sales to China didn’t stimulate much upward interest.

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

Chicago Futures: Dec up  3 1/4  at  845 
  March down 1/4  at  860 1/4 
  May up  2 1/4  at  866 1/4 
  July up  1 1/2  at  852 3/4 
  Sept up  at  859 1/4 
  Today's Arkansas LDP rate for wheat is:

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

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

Chicago Futures: Dec down  4 1/4  at  739 
  March down  3 1/4  at  744 
  May up  5 1/4  at  743 
  July up  5 1/2  at  732 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was slightly higher as crop conditions remain poor in the Plains area of the U.S. ON the other hand soft red crop conditions are pretty good. New crop July has support at $8.25 with resistance at $9.

Corn was a little weaker as recent buyers took profit ahead of the Thanksgiving holiday. Corn made a good bounce showing gains the 3 previous sessions. Technically the market remains in a trading range. At this point it appears corn is a buy at $7.05 and then demand plays out as the market moves toward resistance between $7.50 and $7.75. That trend is likely to continue until Southern Hemisphere crops are well established and larger acreage is confirmed for the U.S.



Cotton & Rice  Date: November 21, 2012


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

New York Futures: Dec down  12  at  7238 
  March up  17  at  7266 
 May up  at  7337 
 July unchanged  - - -  at  7431 
 Oct unchanged  - - -  at  7599 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was narrowly mixed with little fresh fundamental news to give the market direction. Upside movement remains difficult in the light of poor demand and huge stocks.

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

Chicago Futures: Jan down  3 1/2  at  1489 
 March down  at  1521 
 May up  at  1552 1/2 
 July up  at  1567 1/2 
 Sept up  at  1517 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures are moving in a narrow range just above recent support. Mills are scheduled into the first of the year. Exports are substantially stronger than a year ago, that includes both rough rice and milled. However, the Asian market is highly variable. Big Thai stocks are creating marketing problems as the intervention payments were substantially higher than the market.



Cattle & Hogs  Date: November 21, 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   - - -   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 102 at 12807
  Feb up 110 at 13162
Feeders: Jan up 132 at 14737
  March up 150 at 14997

Cattle Comment
Cattle futures were solidly higher ahead of Thanksgiving. Some cash cattle bids were as high as $126 and feedlots were holding for more. The cattle on feed numbers are down sharply from a year ago and are beginning to show the impact of drought induced herd liquidations.

Hogs
Peoria: were     steady   at   49.00   to   - - -

Chicago Futures: Dec up 10 at 8175
  Feb down 57 at 8712

Hogs Comment
Hog futures were mostly lower as cold storage stocks are expected to be at record levels. December futures appear to be testing resistance between $82.25 and $83.50.



Poultry  Date: November 21, 2012

Eggs
New York:  Ex. Lg. - - -; Lg. - - -; Med. - - -;
Chicago:  Ex. Lg. - - -; Lg. - - -; Med. - - -;

National Turkeys
Hens: 8-16 lbs - - -
Toms: 16-24 lbs - - -
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers are trending higher. Offerings are light for current trade needs. Demand is moderate to good approaching the Thanksgiving holiday. Market activity is active. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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