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Arkansas Farm Bureau
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:

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  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:

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:

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:

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.



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  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 
medium grain rice is 
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.



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.



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

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