Grain & Soybean Date: February 05, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1489 to 1528
(NC) Summ. 1318 to 1348
River Elevators:
(Feb) MISS: 1516 to 1534 ; AR & White 1473 to 1509
(NC) Summ. 1323 to 1373
Ark. Processor Bids: (Feb) 1516 to 1526  (NC) 1338 to 1343
Memphis:  (Feb) 1535 1/2 to - - - (NC)  1368 1/4 to 1371 1/4
Riceland Foods:  (Feb) Stuttgart 1516 ; Pendleton 1528 
 (NC) Stuttgart 1338 ; Pendleton 1348 

Chicago Futures:	March	up	5 1/4	at	729
	May	up	5 1/2	at	730 3/4
	July	up	5 1/2	at	722
	Sept	up	4 3/4	at	613
	Dec	up	3 3/4	at	590
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans erased overnight losses and ended the day higher. March again fell short of the $15 mark, but closed at the highest level since November 1, 2012. A close above $15 would suggest a move toward resistance at $15.50. Dry conditions in Argentina and wet conditions in the Mato Grosso area of Brazil, combined with Chinese demand to reverse early declines. New crop November also closed at the highest level in 3 months and could move toward the contract high of $14.09 with a close above $13.60.

Wheat
Cash bid for February at Memphis  792 1/2 to - - -;

Bids to farmers at Local Elevators	729-739;
River Elevators	725-759;

Chicago Futures:	March	down	5 1/2	at	757 1/2
	May	down	6 1/2	at	764 1/4
	July	down	7 1/2	at	768 1/2
	Sept	down	7 1/4	at	780 1/4
	Dec	down	6 1/4	at	796
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for February at Memphis  1248 to - - -;

Bids to farmers at River Elevators	1123-1230;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	February at Memphis   751 to - - -;
	New Crop at Memphis   583 to 593;
Bids to farmers at River Elevators	to

Chicago Futures:	March	down	5 1/4	at	729
	May	down	5 1/2	at	730 3/4
	July	down	5 1/2	at	722
	Sept	down	4 3/4	at	613
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures continued lower today. Weak demand despite the fact that U.S. prices are now in better alignment with global prices continues to be a factor. July looks likely to retest support at the recent low of $7.52.

Corn remained under pressure and closed lower across the board. Weak demand for ethanol and limited export demand remain major features in a market that has been dealing with a tight supply situation for over seven months. The longer the situation exists the more detrimental the situation will be to producers long term. The price ratio of November beans versus December corn moved to 2.29 which is beginning to favor beans over corn.

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Cotton & Rice  Date: February 05, 2013

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 23 at  7726
	Greenwood down  23 at 7726

New York Futures:	March	down	23	at	8151
	May	down	11	at	8246
	July	down	13	at	8324
	Oct	up	82	at	8270
	Dec	up	42	at	8191
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton futures were narrowly mixed with new crop contracts continued to tread slowly higher. December touched 82 cents at its peak. The spread between March and December is now a negative 49 points with March having fallen back from its recent high near 84 cents. That looks like stiff resistance for old crop.

Rice

Long Grain Cash Bid for	Feb	1505/cwt	to	- - -
	NC	1471/cwt	to	- - -

Chicago Futures:	March	up	27	at	1615
	May	up	24	at	1646 1/2
	July	up	24	at	1667 1/2
	Sept	down	3 1/2	at	1571
	Nov	down	3 1/2	at	1565 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures made strong gains in the first 3 contract months. However, the close was off the day’s highs. Tightening U.S. stocks have brought funds back to the market. Producers should be looking for opportunities to complete 2012 crop sales. March has resistance at $16.80, the contract high. Long term charts show resistance around $16.30, are near today’s high.

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Cattle & Hogs  Date: February 05, 2013

Cattle
As reported by Federal-State Market News, receipts were 740 head at sales in Fort Smith and Heber Springs.  Compared with last week, feeder steers sold mostly $1 to $8 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	177	to	- - -
	500	to	550 lbs.	169	to	- - -
	600	to	650 lbs.	158	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	180	to	- --
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	150	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	158	to	- - -

Slaughter Cows, Boners 78   to   85
Light Weight 59 to 65
Bulls, Yield Grade   1   1000   to   2100 lbs.   88   to   99.50
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers	500	to	550 lbs.	173	to	188
	550	to	600 lbs.	166	to	175
Heifers	500	to	550 lbs.	152	to	162
	550	to	600 lbs.	151	to	154.50

Chicago Futures:

Live Cattle:	Feb	up	52	at	12760
	April	up	2	at	13230
Feeders:	March	down	35	at	14852
	April	down	37	at	15202

Cattle Comment
Cattle ended mostly lower after trading higher in early dealings. Stronger beef prices were supportive and helped improve packer margins.

Hogs
Peoria: were     steady   at   57   to   59

Chicago Futures:	Feb	up	25	at	8832
	April	down	65	at	8770

Hogs Comment
Hog futures mostly lower today. Monday’s weakness in pork values added pressure, with the national average cash carcass value down $2.20 and the composite pork cutout down $1.03. April looks headed for a retest of support in the $87 range.

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Poultry  Date: February 05, 2013

Eggs

New York:	Ex. Lg. 138-142; Lg. 136-140; Med. 110-114;
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