Grain & Soybean Date: February 04, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1482 to 1521
(NC) Summ. 1314 to 1344
River Elevators:
(Feb) MISS: 1521 to 1529 ; AR & White 1466 to 1502
(NC) Summ. 1319 to 1369
Ark. Processor Bids: (Feb) 1509 to 1519  (NC) 1334 to 1339
Memphis:  (Feb) 1528 3/4 to - - - (NC)  1364 to 1367
Riceland Foods:  (Feb) Stuttgart 1509 ; Pendleton 1521 
 (NC) Stuttgart 1334 ; Pendleton 1344 

Chicago Futures:	March	up	14 1/2	at	1488 3/4
	May	up	14 3/4	at	1480 1/4
	July	up	15 1/4	at	1470 1/2
	Aug	up	16	at	1442
	Sept	up	14 1/2	at	1389
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans closed higher with lighter than expected rain showers in the dry areas of Argentina sending the market up in early trading. Later, economic concerns resulted in negative outside markets (higher dollar, lower equities and crude oil) limiting upside movement and trimming early gains. Old crop March tested the $15 area, but could not make the move even with new sales to China. New crop November hit $13.50, essentially completing a 62% retracement of the September to January decline. Resistance at $13.60 is about all that stands between the market and the $14.10 contract high.

Wheat
Cash bid for February at Memphis  798 to - - -;

Bids to farmers at Local Elevators	736-746;
River Elevators	732-766;

Chicago Futures:	March	down	2	at	763
	May	down	2 1/2	at	770 3/4
	July	down	2 1/4	at	776
	Sept	down	1 3/4	at	787 1/2
	Dec	down	1 3/4	at	802 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for February at Memphis  1258 to - - -;

Bids to farmers at River Elevators	1133-1240;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	February at Memphis   756 1/4 to - - -;
	New Crop at Memphis   587 3/4 to 597 3/4;
Bids to farmers at River Elevators	723 to 754

Chicago Futures:	March	down	1 3/4	at	734 1/4
	May	down	1 1/2	at	736 1/4
	July	down	1 1/4	at	727 1/2
	Sept	up	1 1/2	at	617 3/4
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures were mostly lower again today. Disappointing export sales last week and indications that Russia will release wheat stocks in order to drive down the price of wheat were negative factors. Further weakness will likely suggest a retest of support at the recent low of $7.52.

Corn closed mixed after late technical selling inspired by negative outside markets trimmed gains in the front end contracts. This marks the third trading session in a row that March failed to hold moves above $7.40. Similarly, new crop December keeps reaching for the $6 level and not quite getting there.

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Cotton & Rice  Date: February 04, 2013

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 124 at  7749
	Greenwood down  124 at 7749

New York Futures:	March	down	124	at	8174
	May	down	98	at	8257
	July	down	51	at	8337
	Oct	down	41	at	8188
	Dec	up	3	at	8149
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton was hit with heavy selling following a negative factory orders report which subsequently sent outside markets lower. Crude oil and equities declined, while the dollar moved sharply higher- all of which weighed on cotton and contributed to a sharp selloff that took the front ends down by more than 100 points. It now appears that 84 cents could be a top for old crop. New crop December edged higher but has not been able to really move significantly above 81 cents.

Rice

Long Grain Cash Bid for	Feb	1481/cwt	to	- - -
	NC	1475/cwt	to	- - -

Chicago Futures:	March	up	35	at	1591
	May	up	34	at	1622 1/2
	July	up	30	at	1643 1/2
	Sept	up	11	at	1574 1/2
	Nov	up	4 1/2	at	1569
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice soared today with March exceeding resistance at $15.90, and then falling back to close near that level. Long term charts show resistance at $16.09 which was the nearby contract high in early August. Additional resistance is seen just above $16.30.

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Cattle & Hogs  Date: February 04, 2013

Cattle
As reported by Federal-State Market News, receipts were 605 head at sales in Springdale and Ola.  Compared with last week, feeder steers sold firm to $8 higher, heifers sold steady to $2 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	196	to	- - -
	500	to	550 lbs.	168.50	to	- - -
	600	to	650 lbs.	157	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	181.50	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	148.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	147	to	- - -

Slaughter Cows, Boners 75   to   82
Light Weight 59 to 63.50
Bulls, Yield Grade   1   1000   to   2100 lbs.   92   to   99.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	500	to	550 lbs.	174.50	to	188
	550	to	600 lbs.	168.50	to	175
Heifers	500	to	550 lbs.	153.50	to	162
	550	to	600 lbs.	153	to	154.25

Chicago Futures:

Live Cattle:	Feb	down	2	at	12707
	April	up	10	at	13227
Feeders:	March	down	32	at	14887
	April	up	27	at	15240

Cattle Comment
Cattle were mixed today. Friday’s semi-annual cattle inventory report was supportive, as expected. The total cattle inventory was down 1.469 million head from a year ago, and confirmed that the inventory will be down again during the first half of 2013.

Hogs
Peoria: were $3 lower to $1     higher   at   57   to   59

Chicago Futures:	Feb	up	42	at	8807
	April	down	40	at	8835

Hogs Comment
Hog futures were mostly lower on weakening packer margins. Selling accelerated in the April contract after Friday’s negative price action. The market should have solid support in the $87 range, though.

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Poultry  Date: February 04, 2013

Eggs

New York:	Ex. Lg. 143-147; Lg. 141-145; Med. 115-119;
Chicago:	Ex. Lg. 139-147; Lg. 137-145; Med. 107-115;

National Turkeys

Hens:	8-16 lbs.	98
Toms:	16-24 lbs.	94.72

Delmarva Broilers
U.S. Grade A
N/A