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Arkansas Farm Bureau
Grain & Soybean Date: February 07, 2013

Soybeans

Local Elevators:
(Feb) EAST AR:  1480 to 1519
(NC) Summ. 1294 to 1324
River Elevators:
(Feb) MISS: 1507 to 1525 ; AR & White 1464 to 1500
(NC) Summ. 1299 to 1349
Ark. Processor Bids: (Feb) 1507 to 1517  (NC) 1314 to 1319
Memphis:  (Feb) 1526 3/4 to 1529 3/4 (NC)  1349 to - - -
Riceland Foods:  (Feb) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: March down 3/4 at  1486 3/4
  May  down  at  1473 1/4
  July down 6 1/4  at  1462 1/4
  Aug down at  1431 1/2
  Sept down at  1374 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans closed mostly lower across the board. Improving South American weather and boosts in the expected Brazilian bean crop pressured the market. March futures again tested the $15 level before moving lower. A stronger dollar added to the negative undertone, as world economic concerns once again moved to the forefront. For now, the market appears to have topped.

Wheat
Cash bid for February at Memphis  791 to 796;
Bids to farmers at Local Elevators 724-734;
River Elevators 720-756;

Chicago Futures: March down  5 1/2  at  756 
  May down 6 1/4  at  763 
  July down  8 3/4  at  763 1/2 
  Sept down  11  at  771 1/4 
  Dec down  12 1/4  at  784 1/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for February at Memphis  1216 to - - -;
Bids to farmers at River Elevators 1091-1198;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for February at Memphis   733 3/4 to 735 3/4;
  New Crop at Memphis   559 1/4 to 569 1/4;
Bids to farmers at River Elevators  700 to 734

Chicago Futures: March down  11 3/4  at  710 3/4 
  May down  12  at  712 
  July down  13  at  701 3/4 
  Sept down  14 1/4  at  589 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were lower again today after another week of disappointing exports. Today’s report showed a drop of 1% from last week’s report, which was the very low end of trade expectations. July found support at $7.58 yesterday. A drop below that level would signal a retest of support at $7.52.

Corn was hit hard as both old and new crop contracts broke technical support which accelerated the downturn. Weak export sales, down over 50% from last year, contributed to the initial declines. A stronger dollar and weaker equity markets were also factors in the 5th straight day of declines. March futures closed below support at $7.14 to $7.14 and could move toward the next support at $6.80. New crop December fell to the lowest level since late June of last year. The close below $5.70 leaves the market vulnerable to further declines.



Cotton & Rice  Date: February 07, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis down 11 at  7726
  Greenwood down  11 at 7726

New York Futures: March down  32  at  8140 
  May down  27  at  8228 
 July down  27  at  8305 
 Oct up  39  at  8330 
 Dec up  38  at  8238 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was mixed with old crop lower while a late move pushed new crop contracts a little higher. December futures are continuing a slow grind higher after topping resistance at 81.2 cents a couple of days ago. A gap area around 85 cents becomes a likely upside target.

Rice
Long Grain Cash Bid for  Feb - - -  to  - - -
  NC - - -  to  - - -

Chicago Futures: March down  at  1612 
 May down  at  1643 1/2 
 July down  at  1664 1/2 
 Sept down  9 1/2  at  1566 
 Nov down  9 1/2  at  1560 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice eventually followed grains and beans lower. March hit resistance at $16.30 earlier this week and has worked sideways to a little lower since prospects of TRQ sales to Columbia on top of recent business with Iran pushed some buttons and raised concerns about tightening U.S. stocks. Upside potential seems limited, but from a technical standpoint a close above $16.30 could signal a move toward the March contract high of $16.80.



Cattle & Hogs  Date: February 07, 2013

Cattle
As reported by Federal-State Market News, receipts were 3501 head at sales in Ratcliff and Green Forest.  Compared with last week, feeder steers sold mostly $3 to $5 higher, instances $6 to $8 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 198.50 to - - -
  500 to 550 lbs. 173 to - - -
  600 to 650 lbs. 160 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 186 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 150 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 152 to - - -

Slaughter Cows, Boners 75   to   82
Light Weight 62 to 65
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   88   to   99
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 179 to 186.50
  550 to 600 lbs. 169 to 177.50
Heifers 500 to 550 lbs. 154 to 164
  550 to 600 lbs. 152 to 156

Chicago Futures:
Live Cattle: Feb up 30 at 12755
  April up 7 at 13152
Feeders: March down 35 at 14720
  April down 35 at 15057

Cattle Comment
Cattle futures were under pressure again today and ended lower with the exception of nearby February. Technical selling, a stronger dollar and demand concerns were all negative factors.

Hogs
Peoria: were     steady   at   57   to   59

Chicago Futures: Feb up 7 at 8697
  April up 27 at 8652

Hogs Comment
Hog futures were mostly lower as well. The market is focused on negative packer margins and further declines in product values. The charts have taken on a very negative appearance. June moved to a 6 month low and looks to have broken out of a bear flag formation, and setting a downward objective of $93.15.



Poultry  Date: February 07, 2013

Eggs
New York:  Ex. Lg. 124-128; Lg. 122-126; Med. 96-100;
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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