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Arkansas Farm Bureau
Grain & Soybean Date: November 30, 2012

Soybeans

Local Elevators:
(Nov) EAST AR:  1412 to 1454
(NC) Summ. 1454 to - - -
River Elevators:
(Nov) MISS: 1474 to 1489 ; AR & White 1414 to 1462
(NC) Summ. 1439 to 1489
Ark. Processor Bids: (Nov) 1439 to 1459  (NC) 1459 to - - -
Memphis:  (Nov) 1488 3/4 to 1493 3/4 (NC)  1294 1/2 to - - -
Riceland Foods:  (Nov) Stuttgart 1439 ; Pendleton 1451 
 (NC) Stuttgart 1275 ; Pendleton 1280 

Chicago Futures: Jan down 9 1/4 at  1438 3/4
  March  down  8 1/2  at  1432 1/2
  May down 8 3/4  at  1409 3/4
  July down 7 3/4  at  1400 1/2
  Aug down 6 3/4   at  1376 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans turned lower today, but recovered a bit of early losses to close near the middle of the day’s trading range. However, fundamental factors show some promise. 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 has resistance between $14.50 and $14.60.

Wheat
Cash bid for November at Memphis  870 3/4 to 874 3/4;
Bids to farmers at Local Elevators 831-846;
River Elevators 836-856;

Chicago Futures: Dec down  24 1/2  at  844 3/4 
  March down 22  at  863 1/2 
  May down  21  at  872 
  July down  16  at  870 1/2 
  Sept down  12 3/4  at  878 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for November at Memphis  1229 to - - -;
Bids to farmers at River Elevators 1157-1211;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for November at Memphis   776 to - - -;
  New Crop at Memphis   624 3/4 to 626 3/4;
Bids to farmers at River Elevators  752 to 778

Chicago Futures: Dec down  3 1/2  at  748 
  March down  at  752 3/4 
  May down  at  752 
  July down  5 1/2  at  744 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were sharply lower today. July gave back a large portion of the gains posted earlier in the week. 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. That is providing more support to Kansas City futures, but Chicago had also rallied this week. Thursday’s high of $8.91 is the first level of resistance.

Corn was also lower. Long term resistance at $7.75 will be difficult to surpass without significant export demand.



Cotton & Rice  Date: November 30, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis unchanged - - - at  70.91
  Greenwood unchanged  - - - at 70.91

New York Futures: Dec up  90  at  7265 
  March up  56  at  7391 
 May up  49  at  7451 
 July up  25  at  7492 
 Oct up  20  at  7649 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton has turned higher over the past three days, but 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 1387/cwt  to  - - -
  NC 1453/cwt  to  - - -

Chicago Futures: Jan up  16  at  1527 
 March up  16 1/2  at  1558 1/2 
 May up  16 1/2  at  1587 
 July up  11 1/2  at  1603 
 Sept up  11 1/2  at  1552 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were also higher. 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 30, 2012

Cattle
As reported by Federal-State Market News, receipts were 8490 head at sales in Arkansas this week.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 172.50 to - - -
  500 to 550 lbs. 155.00 to - - -
  600 to 650 lbs. 143.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 157.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 139.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 138.00 to - - -

Slaughter Cows, Boners 69.00   to   77.00
Light Weight 58.00 to 65.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   83.00   to   90.00
Midwest Steers   were   at   125.00   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 147.00 to 187.00
  500 to 550 lbs. 142.00 to 175.50
Heifers 450 to 500 lbs. 136.00 to 160.00
  500 to 550 lbs. 130.00 to 152.00

Chicago Futures:
Live Cattle: Dec down 147 at 12672
  Feb down 170 at 13040
Feeders: Jan down 112 at 14562
  March down 112 at 14842

Cattle Comment
Cattle futures were lower across the board. Negative packer margins are causing concerns about demand from feedlots. There are also indications that record high beef prices are curbing consumer demand.

Hogs
Peoria: were     steady   at   52.00   to   54.00

Chicago Futures: Dec up 37 at 8407
  Feb down 20 at 8692

Hogs Comment
Hog futures ended mixed. December set a new 8 month high on Thursday, and now that high of $84.65 becomes the first level of resistance. The upside from here will likely be limited as futures are now more than $4.50 premium to cash prices.



Poultry  Date: November 30, 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 108.34
Toms: 16-24 lbs 109.80
 

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

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