Grain & Soybean Date: December 28, 2012

Soybeans

Local Elevators:
(Dec) EAST AR:  1397 to 1436
(NC) Summ. 1434 to - - -
River Elevators:
(Dec) MISS: 1454 to 1482 ; AR & White 1399 to 1444
(NC) Summ. 1421 to 1482
Ark. Processor Bids: (Dec) 1424 to 1444  (NC) 1444 to - - -
Memphis:  (Dec) 1482 to 1484 (NC)  1310 1/4 to - - -
Riceland Foods:  (Dec) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures:	Jan	up	5 1/4	at	1424
	March	up	4	at	1418
	May	up	4 1/2	at	1409 1/2
	July	up	5 3/4	at	1407 1/4
	Aug	up	6 3/4	at	1384 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans traded to the positive side, but couldn’t generate much enthusiasm. There was little fresh fundamental news excluding the weekly export sales report. Soybeans managed decent net sales despite substantial Chinese cancellations that were in this report. Improving crop conditions in South America limited upside potential. Producers should be aware that past bull moves have had significant downturns of 50% or more from the market tops.

Wheat
Cash bid for December at Memphis  798 3/4 to - - -;

Bids to farmers at Local Elevators	755-770;
River Elevators	752-775;

Chicago Futures:	March	up	6 1/2	at	778 3/4
	May	up	6 1/4	at	788 1/2
	July	up	5	at	795
	Sept	up	4 1/2	at	808
	Dec	up	4 1/2	at	821
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for December at Memphis  1168 to - - -;

Bids to farmers at River Elevators	1061-1105;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	December at Memphis   706 to - - -;
	New Crop at Memphis   581 1/4 to 596 1/4;
Bids to farmers at River Elevators	694 to 717

Chicago Futures:	March	up	2 1/2	at	694
	May	up	2 1/4	at	696 3/4
	July	up	2 3/4	at	694 3/4
	Sept	up	3 3/4	at	621 1/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat was also slightly higher on limited trade. Trading should resume a more normal level after next week’s new year’s holiday. Net export sales for wheat were up over 50% from last week. There were good sales to Egypt, Nigeria, Japan and Turkey. Technically, July futures dipped to within a couple of cents of support near $7.80.

Corn was mostly higher for the day, but gains were limited. Net export sales were very poor, totaling just over 4 million bushels. Ethanol production was up slightly from prior weeks despite negative processing margins. However, production is almost 15% below year ago levels. New Crop December fell below $6.00 earlier in the week and hasn’t been able to move back above that level.

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Cotton & Rice  Date: December 28, 2012

Cotton

Spot Price, Grade 41 Staple 34:	Memphis unchanged - - - at  71.41
	Greenwood unchanged  - - - at 71.41

New York Futures:	March	down	135	at	7466
	May	down	104	at	7559
	July	down	79	at	7661
	Oct	down	74	at	7778
	Oct	down	38	at	7811
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton continued yesterday’s sell off and old crop March dipped below 75 cents after topping at just over 77 cents. Fiscal cliff concerns appear to be pushing funds to take profits. Declining disposable income because of higher taxes would tend to limit cotton demand.

Rice

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

Chicago Futures:	Jan	down	4	at	1495 1/2
	March	down	3 1/2	at	1526 1/2
	May	down	4	at	1558
	July	down	4 1/2	at	1583
	Sept	up	3	at	1549 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures fell to the lower level in a mouth with market activities very limited. Little change is expected until after the New Year’s holiday. January futures leave support around $14.85 and then $14.60.

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Cattle & Hogs  Date: December 28, 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   127.00   to   - - -
Panhandle Steers   were   at   127.00   to   - - -

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

Chicago Futures:

Live Cattle:	Dec	up	55	at	12940
	Feb	up	52	at	13357
Feeders:	Jan	up	75	at	15202
	March	up	97	at	15472

Cattle Comment
Cattle futures were firm today as tighter supplies remain a concern. Worries about the fiscal cliff potential, with higher taxes cutting disposable income, limited upside potential for cattle. Weather reduced movement may create short term backups for next week. Poor packer margins remain a negative factor.

Hogs
Peoria: were     steady   at   52.00   to   52.50

Chicago Futures:	Feb	down	65	at	8637
	April	down	82	at	9012

Hogs Comment
Hog futures were lower despite supply tightness. A short slaughter week, and negative packer margins will limit demand and pressure the market near term.

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Poultry  Date: December 28, 2012

Eggs

New York:	Ex. Lg. 120-124; Lg. 118-122; Med. 103-107;
Chicago:	Ex. Lg. 123-131; Lg. 121-129; Med. 100-108;

National Turkeys

Hens:	8-16 lbs	97.50
Toms:	16-24 lbs	99.50

Delmarva Broilers
U.S. Grade A
Whole broiler/fryers prices are firm to higher. Offerings of all sizes are light for current trade needs. Demand into all channels is moderate to at times good entering the weekend. Plant operations for next week are reduced for the holiday. Market activity is moderate to active. In production areas, live supplies are moderate at mostly desirable weights.