Grain & Soybean Date: January 17, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1423 to 1462
(NC) Summ. 1245 to 1268
River Elevators:
(Jan) MISS: 1488 to 1500 ; AR & White 1425 to - - -
(NC) Summ. 1250 to 1295
Ark. Processor Bids: (Jan) 1450 to 1460  (NC) 1260 to 1277
Memphis:  (Jan) 1494 1/4 to - - - (NC)  1298 1/4 to - - -
Riceland Foods:  (Jan) Stuttgart 1450 ; Pendleton 1462 
 (NC) Stuttgart 1260 ; Pendleton 1268 

Chicago Futures:	March	down	6 1/4	at	1430 1/4
	May	down	6 1/2	at	1414 3/4
	July	down	6 3/4	at	1406
	Aug	down	6 1/2	at	1379 1/2
	Sept	down	9	at	1330 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
March Soybeans edged near $14.50 before a selloff left the market lower for the day. Losses were seen despite a good export report and positive outside markets (lower dollar and higher equities and crude oil). Some pressure developed after a Brazilian consulting firm raised their soybean estimate to 84mmt. That is 1.5mmt above USDA’s projection of last week.

Wheat
Cash bid for January at Memphis  808 1/4 to 811 1/4;

Bids to farmers at Local Elevators	755-765;
River Elevators	751-780;

Chicago Futures:	March	down	3 3/4	at	781 1/4
	May	down	4	at	789 3/4
	July	down	2	at	795 1/4
	Sept	down	1	at	804 1/4
	Dec	down	1	at	817 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for January at Memphis  1222 to - - -;

Bids to farmers at River Elevators	1115-1204;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	January at Memphis   739 1/2 to 743 1/2;
	New Crop at Memphis   575 3/4 to 590 3/4;
Bids to farmers at River Elevators	731 to 745

Chicago Futures:	March	down	6 3/4	at	724 1/2
	May	down	6 1/2	at	1414 3/4
	July	down	6 1/2	at	1379 1/2
	Sept	down	9	at	1330 1/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures traded on either side of unchanged before closing a bit lower. July again moved above the $8 mark during the day but couldn’t hold that level. Weather is keeping hard red wheat in traders’ minds, while tighter soft red stocks are also a positive. However, an Iraqi tender for 300,000 metric tons went to Australia and Canada. Weakness in corn and soybeans was also a factor.

Corn supped for the first time in nine trading days. After 8 days of gains, or about 56 cents, traders took profits. Exports were just 15.5 million bushels, as sales remain below the weekly pace needed to reach last week’s projection of 950 million bushels for this marketing year. Dry conditions in Argentina will likely limit downside pressure. Retracement objectives of $7.44 and $7.64 remain viable.

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Cotton & Rice  Date: January 17, 2013

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 45 at  7453
	Greenwood down  45 at 7453

New York Futures:	March	up	45	at	7778
	May	up	41	at	7819
	July	up	47	at	7886
	Oct	up	47	at	7907
	Dec	up	5	at	7929
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton futures were a little firmer on front end contracts. China continues to buy U.S. cotton with spinners actively pursuing U.S. origin over existing stocks. March briefly traded above 78 cents, and is about 135 points below the mid October high.

Rice

Long Grain Cash Bid for	Jan	1399/cwt	to	- - -
	NC	1443/cwt	to	- - -

Chicago Futures:	March	up	9	at	1524
	May	up	9	at	1554 1/2
	July	up	7	at	1579 1/2
	Sept	up	13	at	1543
	Nov	up	13	at	1544
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures closed a little higher but remain in a sideways pattern just above recent support at $15. U.S. mills remain busy with prior business scheduled into late March. Additional business with Iran remains a possibility.

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Cattle & Hogs  Date: January 17, 2013

Cattle
As reported by Federal-State Market News, receipts were 927 head at sales in Ratcliff & Green Forest.  Compared with last week, feeder steers sold firm to $10 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	188.00	to	- - -
	500	to	550 lbs.	172.00	to	- - -
	600	to	650 lbs.	154.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	172.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	142.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	149.00	to	- - -

Slaughter Cows, Boners 71.00   to   77.00
Light Weight 58.00 to - - -
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   89.00   to   - - -
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	450	to	500 lbs.	171.00	to	186.00
	500	to	550 lbs.	177.00	to	182.00
Heifers	450	to	500 lbs.	154.00	to	166.00
	500	to	600 lbs.	149.00	to	155.50

Chicago Futures:

Live Cattle:	Feb	down	192	at	12660
	Apr	down	182	at	13087
Feeders:	Jan	down	267	at	14440
	March	down	237	at	14585

Cattle Comment
Cattle futures plummeted today, shattering several levels of support along the way. April moved to its lowest level in 6 months. Profit taking and ideas that cash cattle are bottoming sparked a rebound mid-day, and futures closed near the middle of the day’s trading range.

Hogs
Peoria: were     steady   at   53.00   to   55.00

Chicago Futures:	Feb	up	80	at	8595
	April	up	65	at	8807

Hogs Comment
Hog futures were mixed again today. June broke out of the recent consolidation range early, but soon backed off the high, leaving resistance at $97.40. Support remains at $96.

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Poultry  Date: January 17, 2013

Eggs

New York:	Ex. Lg. 126-130; Lg. 124-128; Med. 106-110;
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