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Arkansas Farm Bureau
Grain & Soybean Date: April 30, 2013

Soybeans

Local Elevators:
(April) EAST AR:  1441 to 1478
(NC) Summ. 1194 to 1230
River Elevators:
(April) MISS: 1494 to 1513 ; AR & White 1443 to 1483
(NC) Summ. 1197 to 1243
Ark. Processor Bids: (April) 1473 to 1478  (NC) 1214 to 1219
Memphis:  (April) 1492 3/4 to 1497 3/4 (NC)  1241 1/2 to 1243 1/2
Riceland Foods:  (April) Stuttgart 1473 ; Pendleton 1478 
 (NC) Stuttgart 1214 ; Pendleton 1230 

Chicago Futures: May down 4 at  1467 3/4
  July  down  9 3/4  at  1399
  Aug down 5 1/4  at  1339 3/4
  Sept down 5 1/2  at  1264 3/4
  Nov down 5 3/4  at  1223 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans lost upward momentum as traders capitalized on good gains yesterday. Poor U.S. economic reports contributed to profit taking which left beans as much as 10 cents lower. Extended poor weather forecasts suggest the possibility of more acreage moving from corn to beans. While there is still time to get crops planted the window is narrowing and soybeans could be substituted. November has resistance near $12.50, then $12.80 with support between $11.90 and $12.

Wheat
Cash bid for April at Memphis  741 3/4 to 746 3/4;
Bids to farmers at Local Elevators 701-711;
River Elevators 710-747;

Chicago Futures: May up  12  at  721 3/4 
  March up 14 1/2  at  731 
  Sept up  15  at  740 1/4 
  Dec up  14  at  753 3/4 
  March up  14  at  766 3/4 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for April at Memphis  1149 to 1175;
Bids to farmers at River Elevators 1042-1077;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for April at Memphis   698 1/4 to 703 1/4;
  New Crop at Memphis   556 1/4 to 558 1/4;
Bids to farmers at River Elevators  665 to 698

Chicago Futures: May down  3/4  at  683 1/4 
  July down  9 3/4  at  650 
  Sept down  4 1/2  at  580 1/4 
  Dec down  2 3/4  at  556 3/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures were up sharply again today. July is now in position to challenge resistance at $7.40. Freezing temperatures are on their way again, potentially causing further damage to the winter wheat crop.

Corn was 1 to 10 cents lower as weather and a weak dollar failed to sustain yesterday’s major move. Some traders took profits and stalled the upturn at least temporarily. However, extended forecasts remain wet and cold which could prolong efforts to get the crop in. Yesterday’s crop progress report put planting at just 5%, tying the record slow start of 1984. Illinois, Iowa, and Indiana are 1%, 2%, and 2% planted versus a 5 year average of 36, 36, and 30%. December traded within 4 cents of resistance at $5.74 and could move above that point to test the next level just below $6.



Cotton & Rice  Date: April 30, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 777 at  8422
  Greenwood up  777 at 8422

New York Futures: May up  193  at  8553 
  July up  173  at  8747 
 Oct up  139  at  8641 
 Dec up  158  at  8628 
 March up  155  at  8650 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton made a late surge which carried December above 86 cents and sets the market up for a test of resistance at the mid-March high of 89.2 cents. Again, slow planting in the U.S. is a factor with the U.S. at 14% versus a 5 year norm of 20%. In Arkansas just 2% of the crop is planted, versus the average of 20%.

Rice
Long Grain Cash Bid for  April - - -  to  - - -
  NC 1425/cwt  to  - - -

Chicago Futures: May up  19 1/2  at  1485 1/2 
 July up  18 1/2  at  1510 1/2 
 Sept up  17 1/2  at  1504 1/2 
 Nov up  17  at  1519 
 Jan up  17  at  1537 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures finally closed on the positive side with September just above $15. The U.S. rice crop is 44% planted versus a 5 year average of 57%. Both Texas and Louisiana are nearing completion, while Arkansas is at 40% compared to the average of 62%. Another system is set to move through later this week, with cool temperatures and possibly more rain.



Cattle & Hogs  Date: April 30, 2013

Cattle
As reported by Federal-State Market News, receipts were 850 head at sales in Ft. Smith & Heber Springs.  Compared with last week, feeder steers sold firm to $8 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 170.00 to - - -
  500 to 550 lbs. 154.00 to - - -
  600 to 650 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 160.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 142.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 144.50 to - - -

Slaughter Cows, Boners 72.00   to   80.00
Light Weight - - - to - - -
Bulls, Yield Grade   1   1000   to   2100 lbs.   87.00   to   100.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 400 to 450 lbs. 176.00 to 177.00
  500 to 550 lbs. 163.75 to 168.50
Heifers 450 to 500 lbs. 146.00 to 150.00
  500 to 550 lbs. 141.00 to 147.50

Chicago Futures:
Live Cattle: April up 70 at 12840
  June down 65 at 12190
Feeders: May down 87 at 13955
  Aug down 97 at 14890

Cattle Comment
Cattle futures were mostly lower. Feeders traded on either side of unchanged, but the real possibility that acres will shift from corn to beans is weighing on prices this week.

Hogs
Peoria: were $.50 lower to $3.50     higher   at   53.00   to   55.00

Chicago Futures: May up 80 at 9010
  June up 42 at 9257

Hogs Comment
Hogs were higher on improving cash pork values. The charts are looking stronger, with June challenging resistance at $93, the 50% retracement level of the selloff that occurred in February and March.



Poultry  Date: April 30, 2013

Eggs
New York:  Ex. Lg. 100-104; Lg. 98-102; Med. 92-96;
Chicago:  Ex. Lg. 85-93; Lg. 83-91; Med. 80-88;

National Turkeys
Hens: 8-16 lbs 98.48
Toms: 16-24 lbs 98.49
 

Delmarva Broilers
U.S. Grade A
N/A

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