Grain & Soybean Date: December 12, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1447 to 1486
(NC) Summ. 1484 to - - -
River Elevators:
(Dec) MISS: 1494 to 1524 ; AR & White 1448 to 1492
(NC) Summ. 1469 to 1525
Ark. Processor Bids: (Dec) 1474 to 1494  (NC) 1494 to - - -
Memphis:  (Dec) 1525 1/2 to 1527 1/2 (NC)  1308 1/2 to - - -
Riceland Foods:  (Dec) Stuttgart 1474 ; Pendleton 1486 
 (NC) Stuttgart 1294 ; Pendleton 1302 

Chicago Futures:	Jan	up	1 1/2	at	1473 1/2
	March	down	3/4	at	1470 1/2
	May	down	4	at	1455
	July	down	5 1/4	at	1440 3/4
	Aug	down	2 3/4	at	1411 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans again rallied from early declines to close mixed. The market was pressured early by improving crop conditions in South America and technical selling on demand concerns. Positive outside markets, including higher equities and crude oil, also provided support. For now January had resistance near $15.

Wheat
Cash bid for December at Memphis  808 to 812;

Bids to farmers at Local Elevators	793-808;
River Elevators	790-818;

Chicago Futures:	Dec	down	11	at	794 3/4
	March	down	9 1/2	at	812
	May	down	9 1/4	at	824 1/2
	July	down	9 1/2	at	832 3/4
	Sept	down	8 1/4	at	844 3/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for December at Memphis  1171 to 1179;

Bids to farmers at River Elevators	1117-1162;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	December at Memphis   729 1/2 to 730 1/2;
	New Crop at Memphis   607 to 617;
Bids to farmers at River Elevators	717 to 736

Chicago Futures:	Dec	down	3 1/4	at	721
	March	down	2 1/2	at	725 1/2
	May	down	2	at	728 1/2
	July	down	2 1/4	at	724
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures continued lower today. The selloff began yesterday when USDA raised its U.S. carryout estimate by 7% from the November report. World stocks were raised by 1.6%. July looks headed for a retest of support at $8.25.

Corn continued lower, although losses were trimmed after the Fed confirmed a new bond buying program for 2013. Slow export demand and reduced ethanol production continue to weigh on the market. March futures are being pushed toward support around $7.10.

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Cotton & Rice  Date: December 12, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 22 at  7187
	Greenwood down  22 at 7187

New York Futures:	March	up	22	at	7512
	May	up	21	at	7600
	July	up	14	at	7677
	Oct	up	14	at	7735
	Dec	up	9	at	7822
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was higher as technical buying provided follow through on yesterday’s gains. March futures moved above 75 cents and are less than a penny below the 38% retracement objective of 76.14 cents. Export movement has been good, as evidenced by yesterday’s upward bump of 200,000 bales in the supply demand numbers. That is a positive, but a long ways from solving the world supply situation.

Rice

Long Grain Cash Bid for	Dec	1415/cwt	to	- - -
	NC	1451/cwt	to	- - -

Chicago Futures:	Jan	down	17 1/2	at	1534 1/2
	March	down	17	at	1566 1/2
	May	down	17	at	1599 1/2
	July	down	17	at	1616 1/2
	Sept	down	15	at	1551
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures took a hit late in the session and closed substantially lower. Demand remains steady with mills look into the first of the year. January futures have resistance at $15.60, which if penetrated would suggest a potential move to $15.82 which is the 62% retracement objective.

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Cattle & Hogs  Date: December 12, 2012

Cattle
As reported by Federal-State Market News, receipts were 818 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold $2 to $5 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	163.00	to	- - -
	500	to	550 lbs.	149.00	to	- - -
	600	to	650 lbs.	139.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	138.50	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	134.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	132.50	to	- - -

Slaughter Cows, Boners 67.00   to   74.00
Light Weight 50.00 to 55.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   80.00   to   88.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	450	to	500 lbs.	160.00	to	177.00
	500	to	550 lbs.	150.00	to	165.00
Heifers	450	to	500 lbs.	142.00	to	153.00
	500	to	550 lbs.	137.50	to	145.00

Chicago Futures:

Live Cattle:	Dec	down	20	at	12635
	Feb	down	15	at	13180
Feeders:	Jan	up	67	at	15275
	March	up	35	at	15472

Cattle Comment
Cattle futures ended mixed. Profit taking after yesterday’s impressive gains was to blame for the lackluster close. February will have resistance at yesterday’s high fo $132.60.

Hogs
Peoria: were     steady   at   50.00   to   52.00

Chicago Futures:	Dec	down	2	at	8207
	Feb	up	150	at	8565

Hogs Comment
Hog futures were rallied strongly today. Impressive export sales last week and mostly steady cash prices are supportive.

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Poultry  Date: December 12, 2012

Eggs

New York:	Ex. Lg. 133-137; Lg. 131-135; 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 mostly steady. Offerings of all sizes are sufficient for current trade needs. Demand into retail and food service channels is light to moderate for mid-week business. Market activity is slow to moderate. In production areas, live supplies are moderate at mostly desirable weights.