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Arkansas Farm Bureau
Grain & Soybean Date: January 03, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1370 to 1413
(NC) Summ. 1252 to 1275
River Elevators:
(Jan) MISS: 1423 to 1462 ; AR & White 1372 to 1435
(NC) Summ. 1257 to 1292
Ark. Processor Bids: (Jan) 1397 to 1417  (NC) 1267 to 1272
Memphis:  (Jan) 1443 1/2 to 1461 1/2 (NC)  1291 3/4 to - - -
Riceland Foods:  (Jan) Stuttgart 1397 ; Pendleton 1409 
 (NC) Stuttgart 1267 ; Pendleton 1275 

Chicago Futures: Jan down 2 1/2 at  1403
  March  down  5 3/4  at  1386 1/2
  May down at  1378 1/4
  July down 5 1/2  at  1376 1/2
  Aug down 4 1/4  at  1356 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans continued their decline toward support at $13.56. Another Chinese cancellation of 315,000 metric tons of soybeans provided downward impetus, as did an upward revision in projected production in Brazil. The U.S. ag attaché put production at 83mmt up 2mmt from the official estimate. Large exports are expected to be moved from Brazil through early summer.

Wheat
Cash bid for January at Memphis  790 1/2 to 792 1/2;
Bids to farmers at Local Elevators 731-741;
River Elevators 728-751;

Chicago Futures: March up  1/4  at  755 1/2 
  May down 1 1/4  at  764 3/4 
  July down  1 3/4  at  771 1/4 
  Sept down  3 3/4  at  783 1/2 
  Dec down  4 1/4  at  797 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1159 to - - -;
Bids to farmers at River Elevators 1052-1097;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   709 1/4 to 714 1/4;
  New Crop at Memphis   584 1/2 to 589 1/2;
Bids to farmers at River Elevators  677 to 699

Chicago Futures: March down  1 1/2  at  689 1/4 
  May down  2 1/2  at  691 
  July down  4 1/4  at  686 1/2 
  Sept down  at  609 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat was a little higher despite reports that Egypt would reduce their imports by almost 20%. Buying only 3.8mmt versus earlier estimates of 4.8mmt. Last year imports topped 5.3mmt. They have reportedly purchased almost 83% of their needs leaving little room for U.S. sales. July futures have support just above $7.50.

Corn saw late strength on front end contracts, while holding losses in the more distant contracts. A stronger dollar pressured potential exports, while tight holding by farmers helped improve basis levels. March futures were within a half cent of filling the early summer break away gap.



Cotton & Rice  Date: January 03, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 3 at  7214
  Greenwood up  3 at 7214

New York Futures: March up  at  7539 
  May down  at  7622 
 July down  at  7724 
 Oct down  15  at  7871 
 Dec down  19  at  7947 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was narrowly mixed as March continues to trade between 75 and 76 cents. New crop December is holding near 79 cents with late summer resistance around 81.5 cents. Large world stocks and poor demand stand as limiting factors in upside price movement.

Rice
Long Grain Cash Bid for  Jan 1381/cwt  to  - - -
  NC 1433/cwt  to  - - -

Chicago Futures: Jan up  2 1/2  at  1478 
 March up  1 1/2  at  1506 
 May up  at  1537 
 July up  2 1/2  at  1564 1/2 
 Sept up  at  1532 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was basically unchanged as the market appears to be stabilizing after recent declines. Reports that Iran has purchased U.S. rice are a positive, while a rumored deal between Haiti and Vietnam could be a real negative. The Iran deal was bagged rice, likely from Texas and Louisiana.



Cattle & Hogs  Date: January 03, 2013

Cattle
As reported by Federal-State Market News, receipts were 189 head at sales in Green Forest.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 173.25 to - - -
  500 to 550 lbs. 159.75 to - - -
  600 to 650 lbs. 147.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 164.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 138.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 140.50 to - - -

Slaughter Cows, Boners 75.00   to   78.50
Light Weight - - - to - - -
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   88.00   to   91.50
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: Feb up 147 at 13385
  Apr up 115 at 13732
Feeders: Jan up 115 at 15235
  March up 100 at 15490

Cattle Comment
Expectations of tighter cattle supplies led to fund buying and a strong surge in futures. Further weakness in corn was a supportive factor for feeders. Improving packer demand was also a positive in the cash market.

Hogs
Peoria: were     steady   at   51.50   to   53.50

Chicago Futures: Feb up 22 at 8640
  April up 92 at 9017

Hogs Comment
Hog futures were mixed with good gains noted on the front end contracts, despite a dollar decline in the composite park cutout value. Negative packer margins may limit further near term gains.



Poultry  Date: January 03, 2013

Eggs
New York:  Ex. Lg. 113-121; Lg. 111-119; Med. 90-98;
Chicago:  Ex. Lg. 117-121; Lg. 115-119; Med. 103-107;

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 trending higher. Offerings of all sizes are light for current trade needs. Demand into retail and food service channels is moderate to good approaching the weekend. Market activity is moderate to mostly active. In production areas, live supplies are moderate at mostly desirable weights.

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