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Arkansas Farm Bureau
Grain & Soybean Date: December 07, 2012

Today’s report is abbreviated as Farm Bureau Center closed early today for the employee Christmas party.

Soybeans

Local Elevators:
(Dec) EAST AR:  - - - to - - -
(NC) Summ. - - - to - - -
River Elevators:
(Dec) MISS: - - - to - - - ; AR & White - - - to - - -
(NC) Summ. - - - to - - -
Ark. Processor Bids: (Dec) - - - to - - -  (NC) - - - to - - -
Memphis:  (Dec) - - - to - - - (NC)  - - - to - - -
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Jan - - - at  - - -
  March    - - -  at  - - -
  May - - -  at  - - -
  July - - -  at  - - -
  Aug - - -  at  - - -
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans turned lower and gave back most of yesterday’s gains. January failed below resistance at $15. Traders may be cautious between now and Tuesday’s supply/demand report.

Wheat
Cash bid for December at Memphis  - - - to - - -;
Bids to farmers at Local Elevators - - -;
River Elevators - - -;

Chicago Futures: Dec   - - -  at  - - - 
  March - - -  at  - - - 
  May   - - -  at  - - - 
  July   - - -  at  - - - 
  Sept unchanged  - - -  at  - - - 
  Today's Arkansas LDP rate for wheat is:

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

Corn
Cash bid for December at Memphis   - - - to - - -;
  New Crop at Memphis   - - - to - - -;
Bids to farmers at River Elevators  - - - to - - -

Chicago Futures: Dec   - - -  at  - - - 
  March   - - -  at  - - - 
  May   - - -  at  - - - 
  July   - - -  at  - - - 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were a bit lower today. Current price levels are making U.S. wheat uncompetitive on the global market, and subsequently, the upside is likely limited.

Corn futures were lower across the board today, with the charts starting to look negative. 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. December looks like a retest of support at $7.10-$7.11 is now a possibility.



Cotton & Rice  Date: December 07, 2012


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

New York Futures: Dec   - - -  at  - - - 
  March   - - -  at  - - - 
 May   - - -  at  - - - 
 July   - - -  at  - - - 
 Oct   - - -  at  - - - 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued higher today, likely still on a high from yesterday’s big export sales. 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 - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Jan   - - -  at  - - - 
 March   - - -  at  - - - 
 May   - - -  at  - - - 
 July   - - -  at  - - - 
 Sept   - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is  - - -
medium grain rice is  - - -
Rice Comment
Rice futures were trading a bit lower, but so far January is holding support at $15.25. The market failed just below $15.60 in the recent rally. Mills appear to be scheduled fulltime into the first of the year. However, large world stocks could limit exports from the U.S.



Cattle & Hogs  Date: December 07, 2012

Cattle
As reported by Federal-State Market News, receipts were 8325 head at sales in Arkansas this week.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 176.00 to - - -
  500 to 550 lbs. 155.00 to - - -
  600 to 650 lbs. 141.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 170.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 135.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 136.50 to - - -

Slaughter Cows, Boners 66.00   to   74.00
Light Weight 56.00 to 64.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   83.00   to   91.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
Heifers - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -

Chicago Futures:
Live Cattle: Dec - - - at - - -
  Feb - - - at - - -
Feeders: Jan - - - at - - -
  March - - - at - - -

Cattle Comment
Cattle futures ended mixed. Feeders were supported by negative action in corn. 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       at   - - -   to   - - -

Chicago Futures: Dec - - - at - - -
  Feb - - - at - - -

Hogs Comment
Hogs posted sharp gains again today as the markets look more and more bearish. February looks headed for a retest of support at $82.55-$82.57.



Poultry  Date: December 07, 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 99.97
Toms: 16-24 lbs 99.98
 

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers prices are steady to weak. Offerings of all sizes are readily available for current trade needs. Demand into retail and food service channels is light to moderate. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.

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