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:				0¢

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:				0¢

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:	0¢

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	6	at	752 3/4
	May	down	6	at	752
	July	down	5 1/2	at	744 1/4
	Today's Arkansas LDP rate for corn is:				0¢

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.

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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					0¢
medium grain rice is					0¢

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.

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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.

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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.