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Arkansas Farm Bureau
Grain & Soybean Date: January 09, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1369 to 1408
(NC) Summ. 1249 to 1272
River Elevators:
(Jan) MISS: 1446 to 1458 ; AR & White 1371 to 1416
(NC) Summ. 1254 to 1289
Ark. Processor Bids: (Jan) 1396 to 1416  (NC) 1264 to 1269
Memphis:  (Jan) 1449 1/2 to 1455 1/2 (NC)  1289 to 1294
Riceland Foods:  (Jan) Stuttgart 1396 ; Pendleton 1408 
 (NC) Stuttgart 1264 ; Pendleton 1272 

Chicago Futures: Jan up 6 at  1419 3/4
  March  down  at  1385 1/2
  May down 3/4  at  1375 1/4
  July down 1/4  at  1372 1/4
  Aug down 1/4  at  1352 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans couldn’t gain much momentum except in the expiring January contract. Friday’s report is expected to show an upward adjustment in the production estimate which will be largely offset by use, leaving the ending stocks basically unchanged to slightly higher. There has been noted interest from China in buying beans through Northwest U.S. ports. Currently Brazil’s production is expected to rise almost 25% from last year’s drought reduced crop.

Wheat
Cash bid for January at Memphis  770 1/2 to 775 1/2;
Bids to farmers at Local Elevators 722-732;
River Elevators 716-742;

Chicago Futures: March down  at  745 1/2 
  May down 5 3/4  at  754 1/2 
  July down  5 3/4  at  761 1/2 
  Sept down  6 1/2  at  772 1/2 
  Dec down  6 1/4  at  786 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1168 to - - -;
Bids to farmers at River Elevators 1061-1106;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   719 1/4 to - - -;
  New Crop at Memphis   579 1/4 to 584 1/4;
Bids to farmers at River Elevators  701 to 714

Chicago Futures: March up  5 1/2  at  694 1/4 
  May up  at  693 3/4 
  July up  5 1/4  at  688 1/4 
  Sept up  at  604 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat continued under pressure and there doesn’t seem to be much concern about forecasted cold temps across the Midwest later this week. Drought remains a concern across much of the hard winter wheat area, so increased plantings may be offset by abandoned acreage. Areas of soft red production could be threatened by expected heavy rainfall.

Corn firmed again today with gains of 4 to 5 cents in most contracts. March futures moved to 6.96 at one point in today’s trade. It will take some positive numbers to move above the January 2nd high of $7.07 ¼. There is additional resistance just above $7.15. New Crop December was up 4 cents, but additional gains could be difficult. There is considerable chart resistance around $6.



Cotton & Rice  Date: January 09, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 33 at  7154
  Greenwood down  33 at 7154

New York Futures: March down  33  at  7479 
  May down  31  at  7567 
 July down  20  at  7670 
 Oct down  29  at  7759 
 Dec down  21  at  7842 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton continued to trade in a sideways pattern between 74 to 76 cents. Upside potential won’t improve very much unless there are big adjustments in demand and world production. U.S. plantings are likely to be down 2 million acres or more according to early forecasts.

Rice
Long Grain Cash Bid for  Jan 1399/cwt  to  - - -
  NC 1460/cwt  to  - - -

Chicago Futures: Jan up  at  1500 
 March up  at  1523 1/2 
 March up  2 1/2  at  1554 1/2 
 July up  2 1/2  at  1582 
 Sept up  at  1559 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice firmed slightly after several days of little activity. There continues to be little fresh fundamental news although Iran appears to have purchased at least two cargoes of U.S. rice, with perhaps another pending. The Haitian purchase of Vietnam rice could be a major negative, if in fact it is accomplished. Mills appear to have enough business booked to carry them through March.



Cattle & Hogs  Date: January 09, 2013

Cattle
As reported by Federal-State Market News, receipts were 448 head at sales in Conway.  Compared with last week, feeder steers - - - .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 170.50 to - - -
  500 to 550 lbs. 165.00 to - - -
  600 to 650 lbs. 147.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 157.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 143.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 135.50 to - - -

Slaughter Cows, Boners 72.00   to   80.00
Light Weight 55.00 to 60.00
Bulls, Yield Grade   1   1000   to   2000 lbs.   85.00   to   92.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 450 lbs. 184.00 to 203.00
  500 to 550 lbs. 171.00 to 186.00
Heifers 450 to 500 lbs. 153.00 to 160.00
  500 to 550 lbs. 150.00 to 158.25

Chicago Futures:
Live Cattle: Feb down 100 at 13155
  Apr down 95 at 13535
Feeders: Jan down 122 at 15150
  March down 122 at 15377

Cattle Comment
Cattle futures were hit hard by technical selling and continued poor packer margins. Cattle seem to be following hogs lower, while feeders are being negatively influenced by recent price gains in corn.

Hogs
Peoria: were     steady   at   51.50   to   53.50

Chicago Futures: Feb down 215 at 8420
  April down 262 at 8732

Hogs Comment
As indicated yesterday June hog futures blew through support just below 98 and stopped just short of support at $96. Hogs will be looking for some solid demand support to short circuit this downward spiral.



Poultry  Date: January 09, 2013

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

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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