Click here to view this report online.

Arkansas Farm Bureau
Grain & Soybean Date: January 10, 2013

REMINDER: January Market Update Webinar tomorrow (Friday, Jan. 11) at 12:30 p.m. For more information call 501-519-4297.

Soybeans

Local Elevators:
(Jan) EAST AR:  1363 to 1402
(NC) Summ. 1242 to 1265
River Elevators:
(Jan) MISS: 1440 to 1452 ; AR & White 1365 to 1410
(NC) Summ. 1247 to 1282
Ark. Processor Bids: (Jan) 1390 to 1410  (NC) 1262 to 1257
Memphis:  (Jan) 1449 3/4 to - - - (NC)  1282 to 1287
Riceland Foods:  (Jan) Stuttgart 1390 ; Pendleton 1402 
 (NC) Stuttgart 1257 ; Pendleton 1265 

Chicago Futures: Jan down 2 1/4 at  1217 1/2
  March  down  5 3/4  at  1379 3/4
  May down 3 3/4  at  1371 1/2
  July down at  1367 1/4
  Aug down at  1348 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans slid to the negative side as today’s traded ended. Even positive outside markets-stronger equities and crude oil and a very weak dollar-could not keep the market positive. The market is anticipating an upward adjustment in U.S. production numbers and a big crop projection out of South America. USDA will likely increase their export projection, since commitments are up more than 25% from a year ago and the current projection is lightly lower. Ending stocks should not change much. 2013 November has support between $12.56 and $12.64. Old crop March support is a double bottom at $13.56.

Wheat
Cash bid for January at Memphis  769 1/2 to 774 1/2;
Bids to farmers at Local Elevators 720-730;
River Elevators 714-740;

Chicago Futures: March down  at  744 1/2 
  May down at  753 1/2 
  July down  1 1/4  at  760 1/4 
  Sept down  1 3/4  at  770 3/4 
  Dec down  384  at  785 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1176 to - - -;
Bids to farmers at River Elevators 1061-1106;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   718 3/4 to 721 3/4;
  New Crop at Memphis   582 1/4 to 587 1/4;
Bids to farmers at River Elevators  700 to 714

Chicago Futures: March up  4 1/2  at  698 3/4 
  May up  3 3/4  at  697 1/2 
  July up  2 1/4  at  690 1/2 
  Sept up  at  607 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat ended mixed with all 2013 contracts lower. 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. July has support at the recent low of $7.55.

Corn continued to trend higher for the fourth day in a row as stronger Midwest basis levels attempt to move stocks off the farm and into the market. Demand remains a problem although ethanol use improved in December. December 2013 has gained almost 14 cents after holding support at $5.70.



Cotton & Rice  Date: January 10, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 41 at  7195
  Greenwood up  41 at 7195

New York Futures: March up  41  at  7520 
  May up  37  at  7604 
 July up  42  at  7712 
 Oct up  60  at  7819 
 Dec up  67  at  7909 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
March cotton held in a sideways trading range between 74 and 77 cents. A weaker dollar was a positive factor in a market that must deal with huge world stocks. 2013 U.S. acreage estimates range from 2 to 3 million acres. World production is expected to decline 10 to 15 million bales.

Rice
Long Grain Cash Bid for  Jan 1386/cwt  to  - - -
  NC 1441/cwt  to 

Chicago Futures: Jan down  13  at  1487 
 March down  12 1/2  at  1511 
 May down  12 1/2  at  1542 
 July down  16 1/2  at  1565 1/2 
 Sept down  19  at  1540 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was pressured lower as the market failed to generate followthrough on early week gains. Recent sales to Iran were a positive factor, but Haiti, a traditional U.S. customer, appears to have made a deal with Vietnam. Longer term lower price levels now could be good, if producers opt to plant less rice.



Cattle & Hogs  Date: January 10, 2013

Cattle
As reported by Federal-State Market News, receipts were 2015 head at sales in Ratcliff and Green Forest.  Compared with last week, feeder steers sold firm to $10 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 184 to - - -
  500 to 550 lbs. 168 to - - -
  600 to 650 lbs. 159.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 172 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 144 to - - -
 Medium & Large Frame 2   600 to 650 lbs. 138 to - - -

Slaughter Cows, Boners 73   to   79
Light Weight 60 to 66
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   85   to   92
Midwest Steers   - - -   at   - - -   to   - - -
Panhandle Steers   - - -   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 172 to 185
  550 to 600 lbs. 168 to 175
Heifers 500 to 550 lbs. 151 to 161
  550 to 600 lbs. 150 to 157.50

Chicago Futures:
Live Cattle: Feb steady 0 at 13155
  April down 27 at 13507
Feeders: Jan down 65 at 15085
  March down 85 at 15292

Cattle Comment
Cattle futures were lower across the board again today, but losses were minimal compared with yesterday’s selloff. June in particular is testing key support in the $130 area, and a close below that level could signal a move into the $128 area.

Hogs
Peoria: were     steady   at   51.50   to   53.50

Chicago Futures: Feb up 40 at 8460
  April down 22 at 8710

Hogs Comment
Hogs took a breather today and posted modest gains across the board. However, earlier this week 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 10, 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
Toms: 16-24 lbs. 99.50
 

Delmarva Broilers
U.S. Grade A
Comment unavailable today

----------------------------------------

HOW TO UNSUBSCRIBE

You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/ag-markets-statistics/email-signup/

----------------------------------------

QUESTIONS OR COMMENTS?

If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com