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:				0¢

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	6	at	823
	Sept	down	7	at	834
	Dec	down	7 3/4	at	845 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

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:	0¢

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:				0¢

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.

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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	6	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	4	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					0¢
medium grain rice is					0¢

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.

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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.

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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.