Grain & Soybean Date: December 06, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1464 to 1503
(NC) Summ. 1501 to - - -
River Elevators:
(Dec) MISS: 1516 to 1541 ; AR & White 1466 to 1514
(NC) Summ. 1486 to - - -
Ark. Processor Bids: (Dec) 1491 to 1511  (NC) 1511 to - - -
Memphis:  (Dec) 1531 1/4 to 1536 1/4 (NC)  1324 3/4 to - - -
Riceland Foods:  (Dec) Stuttgart 1491 ; Pendleton 1503 
 (NC) Stuttgart 1305 ; Pendleton 1310 

Chicago Futures:	Jan	up	12	at	1491 1/4
	March	up	12 1/4	at	1486
	May	up	13	at	1463 3/4
	July	up	12	at	1451 1/2
	Aug	up	10 3/4	at	1423 1/2
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans posted double-digit gains. USDA said today that 1.14 million metric tons were inspected for export this week, far outpacing the trade expectation of 700,000 metric tons. Technically the market is in a position to test resistance at $15. Long term, the market has a 38% retracement objective of $15.30, and a 50% at $15.78.

Wheat
Cash bid for December at Memphis  862 to 874;

Bids to farmers at Local Elevators	833-848;
River Elevators	838-858;

Chicago Futures:	Dec	up	3	at	845 1/4
	March	up	2	at	862
	May	up	2 1/2	at	871
	July	up	3 1/2	at	873
	Sept	up	3 3/4	at	881 1/2
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for December at Memphis  1226 to 1235;

Bids to farmers at River Elevators	1163-1208;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	December at Memphis   759 1/2 to 766 1/2;
	New Crop at Memphis   623 3/4 to 631 3/4;
Bids to farmers at River Elevators	758 to 777

Chicago Futures:	Dec	down	5 1/2	at	747 3/4
	March	down	6 1/4	at	751 1/2
	May	down	5 1/2	at	753
	July	down	5 3/4	at	747
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures were also on the plus-side today. Continuing dry conditions across the plains remain a supportive factor. Current price levels, however, are making U.S. wheat uncompetitive on the global market, and subsequently, the upside is likely limited. The market has been expecting an uptick in exports due to depleted Black Sea region supplies. Weekly inspections were up 26% from last week, but still near the bottom of industry expectations.

Corn futures were lower across the board today. Export inspections were only 51,600 metric tons this week. The industry was expecting 350,000 to 550,000 metric tons, so to say the report was disappointing is probably an understatement. The market continues to consolidate in a narrow range.

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Cotton & Rice  Date: December 06, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis up 51 at  7055
	Greenwood up  51 at 7055

New York Futures:	Dec	up	20	at	7224
	March	up	51	at	7355
	May	up	46	at	7447
	July	up	24	at	7524
	Oct	down	28	at	7640
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton closed a few points higher again today, supported by USDA’s huge export inspections report. 415,700 running bales were inspected this week. Regaining lost demand takes time, as does reversing significant world stocks. Look for smaller world plantings in 2013. Certainly, a smaller acreage is anticipated in the U.S. as higher prices for corn and soybeans pull acreage from cotton.

Rice

Long Grain Cash Bid for	Dec	1411/cwt	to	- - -
	NC	1448/cwt	to	- - -

Chicago Futures:	Jan	down	24 1/2	at	1531
	March	down	24	at	1563
	May	down	23 1/2	at	1596 1/2
	July	down	19 1/2	at	1615 1/2
	Sept	down	16 1/2	at	1547 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures charted a bearish reversal today. The market failed just below $15.60. Mills appear to be scheduled fulltime into the first of the year. However, large world stocks could limit exports from the U.S.

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Cattle & Hogs  Date: December 06, 2012

Cattle
As reported by Federal-State Market News, receipts were 1390 head at sales in Ratfliff & Green Forest.  Compared with last week, feeder steers sold steady to $3 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	169.00	to	- - -
	500	to	550 lbs.	159.50	to	- - -
	600	to	650 lbs.	150.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	160.50	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	139.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	141.00	to	- - -

Slaughter Cows, Boners 69.00   to   76.00
Light Weight 60.00 to 67.00
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   83.00   to   89.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	400	to	500 lbs.	172.00	to	188.00
	500	to	550 lbs.	160.00	to	165.00
Heifers	400	to	500 lbs.	140.00	to	163.00
	500	to	600 lbs.	134.00	to	143.50

Chicago Futures:

Live Cattle:	Dec	down	7	at	12607
	Feb	up	50	at	13102
Feeders:	Jan	up	185	at	14825
	March	up	175	at	15080

Cattle Comment
Cattle futures ended with across the board gains. The market traded on both sides of unchanged today, though, with December losing selling interest around $125.50. However, large market ready cattle supplies will likely limit the upside as packers will take the opportunity to lower bids to improve margins.

Hogs
Peoria: were     steady   at   53.00   to   56.00

Chicago Futures:	Dec	down	155	at	8345
	Feb	down	120	at	8445

Hogs Comment
Hogs were in the red today. February looks headed for a retest of support at $82.55-$82.57.

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Poultry  Date: December 06, 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
Whole broiler/fryers prices are trending steady to instances weak. Offerings are adequate for current trade needs. Demand is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate at mixed, but mostly desirable weights.