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Arkansas Farm Bureau
Grain & Soybean Date: November 27, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1422 to 1461
(NC) Summ. 1456 to - - -
River Elevators:
(Nov) MISS: 1482 to 1494 ; AR & White 1419 to 1468
(NC) Summ. 1449 to 1494
Ark. Processor Bids: (Nov) 1449 to 1469  (NC) 1469 to - - -
Memphis:  (Nov) 1494 1/4 to 1496 1/4 (NC)  1300 3/4 to - - -
Riceland Foods:  (Nov) Stuttgart 1449 ; Pendleton 1461 
 (NC) Stuttgart 1281 ; Pendleton 1286 

Chicago Futures: Jan up 24 1/2 at  1449 1/4
  March  up  25 1/4  at  1437 1/2
  May up 22  at  1414 1/4
  July up 21 1/2  at  1407
  Aug up 20  at  1382
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans posted solid gains today on additional soy oil sales. In just two weeks, U.S. exporters have sold 40% of the USDA projection for the entire marketing year. Dry conditions in South Brazil helped firm soybeans and keep them in a rebound mode. January is testing resistance at $14.50, and a close above that level would be a positive technical signal.

Wheat
Cash bid for November at Memphis  898 to 903;
Bids to farmers at Local Elevators 843-858;
River Elevators 848-868;

Chicago Futures: Dec up  24  at  873 
  March up 24 3/4  at  888 1/2 
  May up  24 3/4  at  895 1/4 
  July up  23 1/4  at  882 1/2 
  Sept up  22 1/4  at  888 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1241 to 1250;
Bids to farmers at River Elevators 1161-1232;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for November at Memphis   790 to 795;
  New Crop at Memphis   630 to - - -;
Bids to farmers at River Elevators  760 to 792

Chicago Futures: Dec up  12 3/4  at  760 
  March up  12 3/4  at  764 
  May up  12 3/4  at  761 1/2 
  July up  12 1/4  at  752 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat led the way higher today in reaction to the weekly crop conditions report. USDA now says that only 33% of the nation’s wheat crop is in good to excellent condition. That is the lowest number since the report began by a wide margin. .July moved to the highest level in about two weeks, but faces resistance between $8.95 and $9.

Corn moved higher today. Good export sales and inspections are a positive. Long term resistance at $7.75 will be difficult to surpass without significant export demand. New crop December surpassed sever layers of resistance in today’s move, with the next level of resistance at $6.65.



Cotton & Rice  Date: November 27, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 10 at  6952
  Greenwood down  10 at 6952

New York Futures: Dec down  22  at  7104 
  March down  10  at  7252 
 May down  17  at  7328 
 July down  22  at  7418 
 Oct down  18  at  7590 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton traded in a very narrow range today before closing lower. December continues to consolidate. The market will have a difficult time moving higher with demand remaining stagnant and supplies large. Smaller plantings in 2013 will help, but it may take more than that to give the market a chance to move higher.

Rice
Long Grain Cash Bid for  Nov 1369/cwt  to  - - -
  NC 1439/cwt  to  - - -

Chicago Futures: Nov up  16 1/2  at  1508 1/2 
 Jan up  16  at  1539 1/2 
 March up  15 1/2  at  1568 
 May up  15 1/2  at  1589 1/2 
 July up  15 1/2  at  1539 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were higher, carried along by the positive sentiment in Chicago. Export movement remains brisk, and that is also supporting prices. Mills are fully scheduled into the new year but sales have been generally limited to a few select areas. For now upside potential appears limited as the market has large world stocks to work through.



Cattle & Hogs  Date: November 27, 2012

Cattle
As reported by Federal-State Market News, receipts were 1075 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold $3 to $7 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 168.50 to - - -
  500 to 550 lbs. 148.50 to - - -
  600 to 650 lbs. 140.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 146.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 137.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 131.00 to - - -

Slaughter Cows, Boners 70.00   to   77.00
Light Weight 52.00 to 60.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   83.00   to   90.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 161.00 to 175.00
  500 to 550 lbs. 151.00 to 168.00
Heifers 400 to 500 lbs. 142.00 to 147.00
  500 to 600 lbs. 137.00 to 142.50

Chicago Futures:
Live Cattle: Dec down 2 at 12837
  Feb down 7 at 13232
Feeders: Jan down 42 at 14692
  March down 20 at 14990

Cattle Comment
Cattle futures were lower across the board. Live cattle futures were higher in early dealings due to higher cash prices, but turned lower by the end of the day. Feeders were pressured by stronger corn prices.

Hogs
Peoria: were     steady   at   49.00   to   51.00

Chicago Futures: Dec down 10 at 8237
  Feb down 25 at 8672

Hogs Comment
Hog futures ended mixed. December futures were lower early due to profit taking, but closed higher. The upside from here will likely be limited as futures are now more than $4.50 premium to cash prices.



Poultry  Date: November 27, 2012

Eggs
New York:  Ex. Lg. 138-142; Lg. 136-140; Med. 111-115;
Chicago:  Ex. Lg. 131-139; Lg. 129-137; Med. 104-112;

National Turkeys
Hens: 8-16 lbs 106.15
Toms: 16-24 lbs 108.52
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers are firm. Offerings of all sizes are light to adequate for current trade needs. Demand is mostly moderate for early week trading. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.

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