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Arkansas Farm Bureau
Grain & Soybean Date: December 19, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1410 to 1449
(NC) Summ. 1447 to - - -
River Elevators:
(Dec) MISS: 1477 to 1502 ; AR & White 1412 to 1467
(NC) Summ. 1446 to 1502
Ark. Processor Bids: (Dec) 1437 to 1457  (NC) 1457 to - - -
Memphis:  (Dec) 1502 to - - - (NC)  1291 to 1301
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: Jan down 29 at  1437
  March  down  29 1/2  at  1431
  May down 25  at  1419 1/2
  July down 18 1/2  at  1414
  Aug down 14 1/4  at  1386 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans had sharp declines for the second day in a row. Export sales cancellations to China provided downward pressure as did technical selling following the recent rebound. Good weather in South America is another negative factor. The recent low of $13.78 could be tested again as speculators take profits ahead of the holidays.

Wheat
Cash bid for December at Memphis  819 3/4 to 820 3/4;
Bids to farmers at Local Elevators 783-798;
River Elevators 780-803;

Chicago Futures: March down  5 1/2  at  805 3/4 
  May down 5 3/4  at  817 1/4 
  July down  at  823 
  Sept down  at  834 
  Dec down  7 3/4  at  845 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for December at Memphis  1139 to 1148;
Bids to farmers at River Elevators 1077-1121;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for December at Memphis   703 to 712;
  New Crop at Memphis   592 to 607;
Bids to farmers at River Elevators  703 to 726

Chicago Futures: March down  17  at  703 
  May down  16 3/4  at  707 
  July down  16  at  705 3/4 
  Sept down  11 1/4  at  632 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat started the day higher but followed the big down turn in beans and corn to end the session on a negative note. Recent tenders from Egypt had given the market a boost following declines over the last two week. Rains and improving crop conditions in the Plains were a factor in the decline. July futures closed near support. Further losses could push July toward support near $8 and then $7.80.

March corn closed below key support just under $7.10. This suggests further technical selling with the early July hap a likely target. The bottom of the gap is $6.83 ½. That also marks a 50% retracement of the June to August up move.



Cotton & Rice  Date: December 19, 2012


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 6 at  7264
  Greenwood down  6 at 7264

New York Futures: March down  at  7589 
  May down  11  at  7662 
 July down  16  at  7713 
 Oct down  23  at  7785 
 Dec down  25  at  7825 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was slightly lower as the market is maintaining a form undertone following recent gains. World production is expected to decline as much as 15% in 2013, while use rises less than 5%. Rebuilding demand and reducing the huge stockpile of cotton will be the key to market potential. New Crop December has resistance at 79.25 and then 81.3 cents.

Rice
Long Grain Cash Bid for  Dec - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: Jan up  at  1519 1/2 
 March up  3 1/2  at  1550 
 May up  3 1/2  at  1581 1/2 
 July up  3 1/2  at  1600 
 Sept down  1/2  at  1549 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was able to post modest gains after the market worked near the recent low just below $15.10. Trading will be variable as we head toward the New Year, when things should settle into a more normal pattern.



Cattle & Hogs  Date: December 19, 2012

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

Steers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   - - - to - - - lbs. - - - to - - -
 Medium & Large Frame 2   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners - - -   to   - - -
Light Weight - - - to - - -
Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 450 lbs. 169.00 to 184.00
  500 to 550 lbs. 162.00 to 169.00
Heifers 450 to 500 lbs. 150.00 to 160.00
  500 to 550 lbs. 142.00 to 156.00

Chicago Futures:
Live Cattle: Dec up 125 at 12947
  Feb up 140 at 13435
Feeders: Jan up 127 at 15347
  March up 135 at 15575

Cattle Comment
Live cattle futures were higher despite the current large premium over the cash market. This appears to be related to weather and tightening supplies could melt away rather quickly. This week’s cattle on feed report are expected to show a total that is down 6.5% or more from last year. Placement could be down almost 10%.

Hogs
Peoria: were     steady   at   50.50   to   52.50

Chicago Futures: Feb up 130 at 8657
  April up 117 at 9145

Hogs Comment
Hog futures were higher, supported by firming wholesale pork values. Writer weather forecasts and strong packer demand accounted for the upturn.



Poultry  Date: December 19, 2012

Eggs
New York:  Ex. Lg. 133-137; Lg. 131-135; Med. 109-113;
Chicago:  Ex. Lg. 126-134; Lg. 124-132; Med. 104-112;

National Turkeys
Hens: 8-16 lbs 95.50
Toms: 16-24 lbs 97.33
 

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

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