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Arkansas Farm Bureau
Grain & Soybean Date: January 08, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1370 to 1409
(NC) Summ. 1246 to 1269
River Elevators:
(Jan) MISS: 1447 to 1459 ; AR & White 1372 to 1417
(NC) Summ. 1251 to 1286
Ark. Processor Bids: (Jan) 1397 to 1417  (NC) 1261 to 1266
Memphis:  (Jan) 1451 1/2 to 1456 1/2 (NC)  1285 3/4 to 1290 3/4
Riceland Foods:  (Jan) Stuttgart 1397 ; Pendleton 1409 
 (NC) Stuttgart 1261 ; Pendleton 1269 

Chicago Futures: Jan up 3 at  1413 3/4
  March  down  at  1386 1/2
  May down 1 3/4  at  1376
  July down at  1372 1/2
  Aug unchanged   at  1352 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed narrowly mixed with negative outside markets – weaker equities and a stronger dollar limiting upside movement. Soybeans were essentially stable after staging a good rally yesterday. Traders appear to be taking a cautious approach ahead of Fridays report. Export sales appear to be moving to South America. At the same time the rate of growth in Chinese imports is slowing. Lower palm oil values continue to weigh on the soybean market. Technically, March support at $13.56 looks firm. New crop November has support at a dollar lower.

Wheat
Cash bid for January at Memphis  775 1/2 to 780 1/2;
Bids to farmers at Local Elevators 727-737;
River Elevators 721-747;

Chicago Futures: March down  3/4  at  760 1/2 
  May down 3/4  at  760 1/4 
  July down  1/2  at  767 1/4 
  Sept down  at  779 
  Dec down  2 1/4  at  792 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1158 to - - -;
Bids to farmers at River Elevators 925-933;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   713 3/4 to - - -;
  New Crop at Memphis   574 1/4 to 579 1/4;
Bids to farmers at River Elevators  695 to 709

Chicago Futures: March up  3 1/4  at  688 3/4 
  May up  3 1/2  at  688 3/4 
  July up  4 1/2  at  683 
  Sept up  2 1/2  at  599 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat ended the day slightly lower following a late selloff. There are suggestions that winter wheat plantings could be up from expectations. However, this is likely to be more than offset by abandoned acreage as crop progress reports suggest poor development due to drought in some major production areas. July futures are attempting to hold above $7.50.

Corn remained firm with gains of 3 to 4 cents through the early 2014 contracts. South Korea has been a big buyer of corn in recent days but it appears they are sourcing it from places other than the U.S. Traders are looking ahead to Fridays report, which will be released at midday during pit trading hours. Corn has made limit moves the last six years following this report. So, expect some surprises.



Cotton & Rice  Date: January 08, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 59 at  7187
  Greenwood down  59 at 7187

New York Futures: March down  59  at  7512 
  May down  55  at  7598 
 July down  57  at  7690 
 Oct down  70  at  7788 
 Dec down  78  at  7863 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton remains in a sideways pattern just below the recent high near 77 cents. With China holding a year’s supply of cotton there are questions about how much export demand will be seen this year. Early projections suggest world production will be 10 to 15 million bales lower this year while demand could grow 3 to 5 million bales. It will take some time to get huge world stocks at a more reasonable level.

Rice
Long Grain Cash Bid for  Jan 1396/cwt  to  - - -
  NC 1458/cwt  to  - - -

Chicago Futures: Jan down  1 1/2  at  1496 
 March down  1/2  at  1520 1/2 
 May down  2 1/2  at  1552 1/2 
 July down  2 1/2  at  1580 
 Sept up  at  1558 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures were narrowly mixed with little fresh fundamental news to give the market direction and help sustain the rally of late last week. March futures should have good support around $14.90. It is yet to be determined what impact a potential deal between Haiti and Vietnam will have on U.S. exports. Haiti has been a long time U.S. customer.



Cattle & Hogs  Date: January 08, 2013

Cattle
As reported by Federal-State Market News, receipts were 1272 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 185.00 to - - -
  500 to 550 lbs. 167.00 to - - -
  600 to 650 lbs. 150.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 181.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 148.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 146.00 to - - -

Slaughter Cows, Boners 75.00   to   82.00
Light Weight 60.00 to 64.50
Bulls, Yield Grade   1   1000   to   2100 lbs.   82.50   to   96.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   128.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 165.00 to 182.50
  500 to 550 lbs. 167.00 to 180.00
Heifers 450 to 500 lbs. 148.00 to 156.00
  500 to 550 lbs. 146.5 to 155.50

Chicago Futures:
Live Cattle: Feb down 45 at 13255
  Apr down 40 at 13630
Feeders: Jan down 52 at 15272
  March down 110 at 15500

Cattle Comment
Cattle futures were pressured by larger than expected supplies of market ready animals. Lower wholesale beef values also imply lower demand which raises concern about general economic considerations. Feeder futures were pressured by recent firming in the grain markets ahead of Fridays report.

Hogs
Peoria: were     steady   at   51.50   to   53.50

Chicago Futures: Feb up 5 at 8635
  April up 40 at 8995

Hogs Comment
Hog futures were lower despite a small improvement in packer margins. June futures appear to be ready to test support just below $98 and could be headed to the mid- September low near $96.



Poultry  Date: January 08, 2013

Eggs
New York:  Ex. Lg. 109-117; Lg. 107-115; Med. 90-98;
Chicago:  Ex. Lg. 117-121; Lg. 115-119; Med. 103-107;

National Turkeys
Hens: 8-16 lbs 97.00
Toms: 16-24 lbs 99.50
 

Delmarva Broilers
U.S. Grade A
Prices continue higher this week for all reported prices in all regions when compared to the previous week. The undertone is reported as more steady with a few areas reporting it as weak. Spot offering of all sizes are light to moderate. Demand into retail and food service channels is moderate to good with most buyers resistant to the higher prices. Floor stocks are light to at times moderate. Truck availability remains tight. Market activity is moderate.

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