Grain & Soybean Date: December 03, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1427 to 1469
(NC) Summ. 1469 to - - -
River Elevators:
(Dec) MISS: 1484 to 1504 ; AR & White 1429 to 1433
(NC) Summ. 1454 to 1504
Ark. Processor Bids: (Dec) 1454 to 1474  (NC) 1474 to - - -
Memphis:  (Dec) 1503 3/4 to 1504 3/4 (NC)  1307 1/4 to - - -
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures:	Jan	up	15	at	1453 3/4
	March	up	15 3/4	at	1448 1/4
	May	up	17 1/4	at	1427
	July	up	16 1/4	at	1416 3/4
	Aug	up	15 3/4	at	1392
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans firmed again today with strong demand for palm oil providing a boost. Chinese orders for the first quarter of 2013 are another reason to be optimistic about the soybean market. Too much moisture in some parts of the growing area of Argentina was seen as a positive for soybeans today. From the technical side the January contract has encountered resistance just above $14.60 for the second time in recent days. Above that there is little resistance before reaching $14.86 to $15. November 2013 reached last month’s breakout level at $13.20. The soybean/corn price ratio remains favorable to corn at 2.06.

Wheat
Cash bid for December at Memphis  870 to 872 3/4;

Bids to farmers at Local Elevators	829-844;
River Elevators	834-854;

Chicago Futures:	Dec	down	2 3/4	at	842
	March	down	2 3/4	at	860 3/4
	May	down	2 3/4	at	869 1/4
	July	down	1 3/4	at	868 3/4
	Sept	down	2 1/4	at	876 1/2
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for December at Memphis  1230 to 1232;

Bids to farmers at River Elevators	1159-1221;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	December at Memphis   774 to 777 3/4;
	New Crop at Memphis   629 3/4 to 631 3/4;
Bids to farmers at River Elevators	753 to 779

Chicago Futures:	Dec	up	1	at	749
	March	up	2	at	754 3/4
	May	up	2 1/4	at	754 1/4
	July	up	2 3/4	at	747
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Corn closed marginally higher despite continued strong export competition from Brazil. A supposedly dwindling supply seems to be still available as heavy sales were registered during November and are expected to continue through January 2013. Old crop December futures have hit resistance at 7.60 with additional resistance at $7.75. December 2013 is at the top of a trading band that has persisted since September.

July 2013 wheat reversed early gains and closed lower after hitting resistance around 8.90 late last week. The turnaround came despite increased import interest from Egypt and persistently worsening crop conditions in the Plains region of the U.S.

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Cotton & Rice  Date: December 03, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis up 7 at  70.98
	Greenwood up  7 at 70.98

New York Futures:	Dec	up	28	at	7293
	March	up	7	at	7398
	May	up	23	at	7474
	July	up	26	at	7518
	Oct	up	18	at	7667
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was narrowly mixed after developing a firm undertone late last week. March futures topped out above 74 cents and could work toward the mid October high above 76 cents. Any additional upward movement would need renewed export demand, which doesn’t appear likely at this point. It will take a significant reduction in world plantings to start correcting the supply situation.

Rice

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

Chicago Futures:	Jan	up	10 1/2	at	1537 1/2
	March	up	10 1/2	at	1569
	May	up	10 1/2	at	1597 1/2
	July	up	15 1/2	at	1618 1/2
	Sept	up	2 1/2	at	1555
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures continued the upward move that began about 2 weeks ago. January has resistance between $15.48 and %15.55, which could be a difficult point for the market to overcome.

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Cattle & Hogs  Date: December 03, 2012

Cattle
As reported by Federal-State Market News, receipts were 1874 head at sales in Springdale & Ola.  Compared with last week, feeder steers - - - .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	175.00	to	- - -
	500	to	550 lbs.	157.50	to	- - -
	600	to	650 lbs.	138.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	165.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	135.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	140.00	to	- - -

Slaughter Cows, Boners 69.00   to   77.00
Light Weight 57.00 to 65.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   84.00   to   92.00
Midwest Steers   were   at   123.00   to   125.00
Panhandle Steers   were   at   124.00   to   128.00

Oklahoma City Feeders
Steers	450	to	500 lbs.	160.00	to	162.00
	500	to	550 lbs.	152.50	to	163.00
Heifers	450	to	500 lbs.	140.00	to	143.50
	500	to	550 lbs.	135.00	to	142.25

Chicago Futures:

Live Cattle:	Dec	up	27	at	12700
	Feb	up	37	at	13077
Feeders:	Jan	down	2	at	14560
	March	down	20	at	14822

Cattle Comment
Cattle futures firmed in late trading as the February contract bounced off trendline support at $130. Overall supply side fundamentals are strong. Feedlot numbers continue to tighten relative to a year ago, at the same time economic uncertainties are limiting upside potential.

Hogs
Peoria: were $1 higher to $3     lower   at   53.00   to   55.00

Chicago Futures:	Dec	down	15	at	8392
	Feb	down	125	at	8567

Hogs Comment
Hog futures were mostly lower as the market encountered selling pressure just below recent highs near $88. This is a critical area that has been resistance in the past and it would be a negative signal if February falls back below this level.

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Poultry  Date: December 03, 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 moderate for current trade needs. Demand into retail food service channels is moderate entering the week. Market activity is moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.