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Arkansas Farm Bureau
Grain & Soybean Date: April 02, 2013

Soybeans

Local Elevators:
(April) EAST AR:  1377 to 1414
(NC) Summ. 1219 to 1249
River Elevators:
(April) MISS: 1420 to 1429 ; AR & White 1378 to 1409
(NC) Summ. 1219 to 1271
Ark. Processor Bids: (April) 1404 to - - -  (NC) 1239 to 1244
Memphis:  (April) 1414 to 1429 (NC)  1273 3/4 to 1276 3/4
Riceland Foods:  (April) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: May up 3 1/4 at  1394
  July  up  2 1/4  at  1374 1/2
  Aug up at  1342
  Sept up 1 1/2  at  1285
  Nov down at  1248 3/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans traded higher overnight, then sold off before ending the session mixed. Basis levels are holding firm on good crush margins and continued import interest from China. November futures tested support just below $12.50 and managed to firm and close near that level.

Wheat
Cash bid for April at Memphis  675 3/4 to 680 3/4;
Bids to farmers at Local Elevators 637-657;
River Elevators 646-691;

Chicago Futures: May up  6 3/4  at  670 3/4 
  March up 8 1/4  at  677 1/4 
  Sept up  9 3/4  at  688 
  Dec up  11  at  703 3/4 
  March up  11 1/4  at  718 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for April at Memphis  1081 to 1099;
Bids to farmers at River Elevators 965-1001;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for April at Memphis   655 1/2 to - - -;
  New Crop at Memphis   532 3/4 to 534 3/4;
Bids to farmers at River Elevators  623 to 676

Chicago Futures: May down  1 3/4  at  640 1/2 
  July up  1/2  at  627 1/4 
  Sept up  3 3/4  at  554 3/4 
  Dec up  at  536 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures recovered a bit today as traders took profits after huge losses the past two sessions. Weekly crop ratings showed only 34% of the crop rated good to excellent, and that provided support today as well. Forecasts for beneficial rain in the next 10 days could improve the condition of the crop. July will have support at Monday’s low of $6.64.

Corn lost early gains on renewed liquidation. Basis remained firm after futures lost 90 cents or more since last Thursday report. May held support at $6.35 while New Crop December struggle to hold $5.35 at the close. Weather continues to present problems for getting the crop planted, while old crop supplies are rumored to be drawing export interest following the price decline.



Cotton & Rice  Date: April 02, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 150 at  8537
  Greenwood up  150 at 8537

New York Futures: May up  148  at  8887 
  July up  150  at  8034 
 Oct up  150  at  8885 
 Dec up  61  at  8754 
 March up  65  at  8732 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton firmed on improved equity market and indications of improvement in the world economic situation. Key resistance at 88 to 89 cents looms just above the days close.

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

Chicago Futures: May up  50  at  1576 1/2 
 July up  50  at  1605 1/2 
 Sept up  30  at  1552 
 Nov up  29  at  1568 1/2 
 Jan up  29  at  1579 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures broke free from the weak undertone in corn and wheat to move up the limit in old crop contracts. A tightening stocks situation and indications U.S. plantings will decline should provide the market with a firm undertone. May futures are now nearing the 62% retracement objective near $15.85.



Cattle & Hogs  Date: April 02, 2013

Cattle
As reported by Federal-State Market News, receipts were 494 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold mostly $2 to $9 higher, instances $10 to $12 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 176.00 to - - -
  500 to 550 lbs. 158.00 to - - -
  600 to 650 lbs. 150.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 162.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 141.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 142.50 to - - -

Slaughter Cows, Boners 78.00   to   85.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2100 lbs.   94.50   to   98.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 180.00 to 193.00
  500 to 600 lbs. 162.50 to 172.50
Heifers 450 to 500 lbs. 156.50 to - - -
  500 to 600 lbs. 149.25 to 156.00

Chicago Futures:
Live Cattle: April down 132 at 12742
  June down 127 at 12282
Feeders: April down 80 at 14472
  May down 57 at 14710

Cattle Comment
Feeder cattle were in the red across the board. Profit taking after big gains during the past two sessions resulted in small losses today. In contrast, live futures were sharply lower, wiping out much of the gains of last week in the process.

Hogs
Peoria: were $1 lower to $3     higher   at   49.00   to   51.00

Chicago Futures: April down 35 at 8095
  May down 5 at 8995

Hogs Comment
Hogs were mixed. Nearby contracts were lower on profit taking. Pork values have improved so far this week, as the market expects demand to improve due to seasonal factors.



Poultry  Date: April 02, 2013

Eggs
New York:  Ex. Lg. 136-140; Lg. 134-138; Med. 109-113;
Chicago:  Ex. Lg. 135-143; Lg. 133-141; Med. 95-103;

National Turkeys
Hens: 8-16 lbs 97.50
Toms: 16-24 lbs 98.16
 

Delmarva Broilers
U.S. Grade A
N/A

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