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Arkansas Farm Bureau
Grain & Soybean Date: January 30, 2013

Soybeans

Local Elevators:
(Jan) EAST AR:  1472 to 1511
(NC) Summ. 1303 to 1333
River Elevators:
(Jan) MISS: 1537 to 1544 ; AR & White 1466 to 1507
(NC) Summ. 1308 to 1358
Ark. Processor Bids: (Jan) 1499 to 1509  (NC) 1323 to 1328
Memphis:  (Jan) 1533 3/4 to 1538 3/4 (NC)  1352 3/4 to 1357 3/4
Riceland Foods:  (Jan) Stuttgart 1499 ; Pendleton 1511 
 (NC) Stuttgart 1323 ; Pendleton 1333 

Chicago Futures: March up 27 at  1478 3/4
  May  up  27 1/4  at  1467 1/2
  July up 27 3/4  at  1457 1/4
  Aug up 24 1/4  at  1426 1/4
  Sept up 22  at  1375 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were sharply higher over weather concerns in Argentina. Dry forecasts are building the worry factor about potential yields there. Strong buying demand from China aided the advance. March broke about recent resistance and is in position to move toward the next point at $15 and then $15.50. November moved near resistance around $13.40 but back off slightly later in the session. That and further resistance at $13.60 stands between the market and the contract high near $14.10.

Wheat
Cash bid for January at Memphis  822 to - - -;
Bids to farmers at Local Elevators 760-770;
River Elevators 756-795;

Chicago Futures: March up  10  at  787 
  May up 10  at  795 3/4 
  July up  at  800 1/4 
  Sept up  8 1/2  at  807 3/4 
  Dec up  7 1/2  at  820 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for January at Memphis  1250 to - - -;
Bids to farmers at River Elevators 961-979;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for January at Memphis   758 1/4 to 760 1/4;
  New Crop at Memphis   581 3/4 to 596 3/4;
Bids to farmers at River Elevators  731 to 760

Chicago Futures: March up  10 3/4  at  740 1/4 
  May up  11  at  741 
  July up  11 1/2  at  732 
  Sept up  6 1/4  at  616 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted gains today. U.S. feed wheat has become more competitive for export into the EU, according to a German consulting firm. Black sea wheat supplies have dwindled, driving prices higher in that part of the world.

Corn followed right behind beans with March clearing resistance near $7.30 to close at $7.40. March has retracement objectives at $7.44 and $7.64. New Crop December firmed but couldn’t close above recent resistance at $5.95. That area December has retracement objectives at 6.00 and $6.09. Could be tough to move back about $6.



Cotton & Rice  Date: January 30, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 57 at  7896
  Greenwood down  57 at 7896

New York Futures: March up  57  at  8296 
  May up  58  at  8316 
 July up  45  at  8315 
 Oct down  at  8123 
 Dec down  at  8111 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
March Cotton was higher again today but resistance at 84 cents remains. Whether there is enough demand to drive the market higher is a big question, especially with huge stocks projected. New Crop December is testing early September resistance just about 81 cents. It will probably take a significant upturn to buy acres back from corn and soybeans.

Rice
Long Grain Cash Bid for  Jan 1430/cwt  to  - - -
  NC 1462/cwt  to  - - -

Chicago Futures: March down  12 1/2  at  1540 
 May down  12  at  1572 1/2 
 July down  10 1/2  at  1600 
 Sept down  at  1562 
 Nov down  at  1563 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice retraced a portion of yesterday’s upturn and closed lower. March will need to close about yesterday’s high of $15.54 to move toward higher objectives of $15.70 and $15.90.



Cattle & Hogs  Date: January 30, 2013

Cattle
As reported by Federal-State Market News, receipts were 150 head at sales in Conway.  Compared with last week, feeder steers sold $5 to $10 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 183.00 to - - -
  500 to 550 lbs. 167.00 to - - -
  600 to 650 lbs. 151.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. - - - to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 150.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 147.00 to - - -

Slaughter Cows, Boners 76.00   to   82.50
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2000 lbs.   82.50   to   90.00
Midwest Steers   were   at   125.00   to   - - -
Panhandle Steers   were   at   125.00   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 182.50 to 196.00
  500 to 550 lbs. 171.50 to 185.00
Heifers 450 to 500 lbs. 157.00 to 163.25
  500 to 550 lbs. 152.00 to 156.00

Chicago Futures:
Live Cattle: Feb down 27 at 12800
  Apr down 5 at 13292
Feeders: Jan up 2 at 14582
  March up 27 at 14910

Cattle Comment
Cattle futures were mixed today. Beef supplies look ample to meet demand at this point, with slaughter running 4.1% ahead of a year ago with higher average weights as well.

Hogs
Peoria: were $3 lower to $1     higher   at   55.00   to   57.00

Chicago Futures: Feb steady - - - at 8710
  April down 37 at 8925

Hogs Comment
Stronger cash hog prices and Tuesday's 92 cent gain in the composite pork cutout were supportive factors for hog prices today.



Poultry  Date: January 30, 2013

Eggs
New York:  Ex. Lg. 146-150; Lg. 144-148; Med. 118-122;
Chicago:  Ex. Lg. 135-143; Lg. 133-141; Med. 105-113;

National Turkeys
Hens: 8-16 lbs 95.50
Toms: 16-24 lbs 95.50
 

Delmarva Broilers
U.S. Grade A
N/A

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