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Arkansas Farm Bureau
Grain & Soybean Date: January 16, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1430 to 1469
(NC) Summ. 1257 to 1280
River Elevators:
(Jan) MISS: 1504 to 1507 ; AR & White 1432 to - - -
(NC) Summ. 1262 to 1307
Ark. Processor Bids: (Jan) 1457 to 1467  (NC) 1272 to 1277
Memphis:  (Jan) 1511 1/2 to - - - (NC)  1306 to 1310
Riceland Foods:  (Jan) Stuttgart 1457 ; Pendleton 1469 
 (NC) Stuttgart 1272 ; Pendleton 1280 

Chicago Futures: March up 23 at  1436 1/2
  May  up  21 1/2  at  1421 1/4
  July up 20  at  1412 3/4
  Aug up 20 3/4  at  1386
  Sept up 20  at  1339 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans posted double digit gains on strong crush demand and initial concerns about developing dry conditions in previously wet areas of Argentina. March futures moved about resistance at $14.35 in the late trade and a close above $14.43 would suggest a technical move toward $15.

Wheat
Cash bid for January at Memphis  810 to 815;
Bids to farmers at Local Elevators 757-767;
River Elevators 751-782;

Chicago Futures: March up  2 1/4  at  785 
  May up 2 3/4  at  793 3/4 
  July up  at  797 1/4 
  Sept up  at  805 1/4 
  Dec up  at  818 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1234 to - - -;
Bids to farmers at River Elevators 1127-1217;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   746 1/4 to 749 1/4;
  New Crop at Memphis   583 to 598;
Bids to farmers at River Elevators  737 to 751

Chicago Futures: March up  3/4  at  731 1/4 
  May up  1/2  at  731 1/4 
  July up  1/4  at  721 1/4 
  Sept up  at  618 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat reversal early declines to close on a positive note. July ventured above $8 before backing off at the close. Weather is keeping hard red wheat in traders’ minds, while tighter soft red stocks are also a positive. Limited alternative supplies should keep the focus of importers on the U.S.

Corn closed the day with modest gains, after showing a slightly weaker undertone through most of the session. There appears to be two different markets developing with old crop being carried by tight stocks and new crop being limited by potentially large U.S. plantings in 2013. March futures have matched resistance at $7.35 the last 2 days and could move to retracement objectives at $7.44, and then $7.64. Declining ethanol demand could limit upside movement.



Cotton & Rice  Date: January 16, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 112 at  7408
  Greenwood up  112 at 7408

New York Futures: March up  112  at  7733 
  May up  94  at  7778 
 July up  71  at  7839 
 Oct up  28  at  7860 
 Dec up  17  at  7924 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton ended the session higher with March futures reaching the highest level since mid-October. A move to the October high just above 79 cents is possible, but the question is how much, China will be in the market. China is the major importer of the U.S. cotton, but is projected to have almost 41 million bales of stocks at the end of the current marketing year.

Rice
Long Grain Cash Bid for  Jan 1390/cwt  to  - - -
  NC 1430/cwt  to  - - -

Chicago Futures: March up  at  1515 
 May up  8 1/2  at  1545 1/2 
 July up  8 1/2  at  1572 1/2 
 Sept down  1/2  at  1530 
 Nov down  1/2  at  1531 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures found support at $15 and made a limited rebound to close mixed. There is little fresh fundamental news to give this market direction, so far the time being it is likely to trade sideways. Lower price levels likely mean less acres in 2013 which could lead to a stronger market situation down the road.



Cattle & Hogs  Date: January 16, 2013

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

Steers:
 Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
  - - - to - - - lbs. - - - to - - -
 Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -

Heifers:
 Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -
 Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -

Slaughter Cows, Boners - - -   to   - - -
Light Weight - - - to - - -
Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were   at   125.00   to   - - -
Panhandle Steers   were   at   125.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 177.00 to 187.50
  500 to 550 lbs. 169.25 to 183.00
Heifers 450 to 500 lbs. 156.50 to 163.00
  500 to 550 lbs. 146.00 to 157.00

Chicago Futures:
Live Cattle: Feb down 190 at 12852
  Apr down 172 at 13270
Feeders: Jan down 125 at 14707
  March down 215 at 14822

Cattle Comment
Cattle futures were pounded again today with April live cattle falling to a two month low. Today’s close is just a dollar away from key support, which given the long term supply situation, should hold. At least further declines would appear to be limited. However retailers are slow to replenish high end cuts amid concerns about consumer spending.

Hogs
Peoria: were       at   53.00   to   55.00

Chicago Futures: Feb down 10 at 8515
  April down 17 at 8742

Hogs Comment
Hog futures were narrowly mixed. Further improvement in packer margins could see stronger demand develop as supplies tighten.



Poultry  Date: January 16, 2013

Eggs
New York:  Ex. Lg. 123-127; Lg. 121-125; Med. 103-107;
Chicago:  Ex. Lg. 109-117; Lg. 107-115; Med. 88-96;

National Turkeys
Hens: 8-16 lbs 95.23
Toms: 16-24 lbs 95.22
 

Delmarva Broilers
U.S. Grade A
N/A

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