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:				0¢

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:				0¢

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:	0¢

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:				0¢

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.

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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					0¢
medium grain rice is					0¢

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.

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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.

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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.