Click here to view this report online.

Arkansas Farm Bureau
Grain & Soybean Date: May 03, 2013

Soybeans

Local Elevators:
(May) EAST AR:  1390 to 1442
(NC) Summ. 1191 to 1227
River Elevators:
(May) MISS: 1397 to 1482 ; AR & White 1392 to 1437
(NC) Summ. 1194 to 1240
Ark. Processor Bids: (May) 1422 to 1465  (NC) 1211 to 1216
Memphis:  (May) 1412 1/4 to 1475 (NC)  1239 1/4 to 1241 1/4
Riceland Foods:  (May) Stuttgart - - - ; Pendleton - - - 
 (NC) Stuttgart - - - ; Pendleton - - - 

Chicago Futures: May up 14 at  1455
  July  up  15  at  1387 1/4
  Aug up 17  at  1335 1/4
  Sept up 18 1/4  at  1265 3/4
  Nov up 17 1/4  at  1221 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans ended the week on a positive note despite building concern that weather will push acres out of corn and to beans. In addition, port congestion and logistics problems in Brazil are easing and April exports were a record 7.15mmt. On the other hand there are reports that tight U.S. stocks will lead to imports. Strong basis levels and higher futures are aimed at tight holders. Futures rose 15 to 20 cents across the board with November continuing to hold above $12.

Wheat
Cash bid for May at Memphis  734 to 736;
Bids to farmers at Local Elevators 691-701;
River Elevators 697-737;

Chicago Futures: May down  7 1/2  at  711 1/4 
  July down 7 1/2  at  721 
  Sept down  7 1/2  at  730 1/2 
  Dec down  at  745 1/4 
  March down  at  758 1/2 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1109 to 1181;
Bids to farmers at River Elevators 1029-1065;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for May at Memphis   671 1/4 to 714 1/2;
  New Crop at Memphis   559 1/4 to - - -;
Bids to farmers at River Elevators  668 to 699

Chicago Futures: May up  at  699 1/2 
  July down  3/4  at  661 1/4 
  Sept down  4 1/2  at  579 1/4 
  Dec down  5 1/2  at  553 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures ended the week on a downbeat. Informa released a new crop estimate today, decreasing their expectations for the U.S. crop from 1.58 billion bushels to 1.53 billion bushels. Most of that reduction was in the hard red winter wheat crop, only 1 million bushels of the cut was from the soft red winter wheat crop. July has resistance at $7.36, and a close above that level is needed to suggest an additional leg up.

Corn was mostly lower with only expiring May posting a gain. A firm undertone still exists as weather condition will continue to limit planting in a good portion of the Midwest. December futures are holding above $5.50.



Cotton & Rice  Date: May 03, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis  - - - at  8343
  Greenwood   - - - at 8343

New York Futures: May up  89  at  8472 
  July up  75  at  8643 
 Oct up  75  at  8529 
 Dec up  44  at  8491 
 March up  31  at  8484 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton was slightly lower as slow planting is keeping the market nervous. Positive economic numbers provided the back drop for stronger equities which in turn helped push cotton higher. December will need to close above 87 cents to extend the upturn.

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

Chicago Futures: May up  17 1/2  at  1520 
 July up  10 1/2  at  1535 1/2 
 Sept up  13  at  1522 1/2 
 Nov up  16 1/2  at  1541 1/2 
 Jan up  14 1/2  at  1557 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures posted another positive day in a thin trade. Smaller rice production estimates for India was a positive. Stronger crude oil and equities were also supporting factors. A smaller than expected unemployment number coupled with a higher new jobs number was factors in the stronger equity market.



Cattle & Hogs  Date: May 03, 2013

Cattle
As reported by Federal-State Market News, receipts were 8050 head at sales in Arkansas this week.  Compared with last week, feeder steers sold mostly weak to $4 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 168.00 to - - -
  500 to 550 lbs. 151.00 to - - -
  600 to 650 lbs. 140.50 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 157.50 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 140.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 142.00 to - - -

Slaughter Cows, Boners 73.00   to   80.00
Light Weight 58.00 to 65.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   85.00   to   95.00
Midwest Steers   were   at   - - -   to   - - -
Panhandle Steers   were   at   - - -   to   - - -

Oklahoma City Feeders
Steers 450 to 500 lbs. 158.00 to 186.00
  500 to 550 lbs. 152.00 to 172.00
Heifers 450 to 500 lbs. 139.50 to 154.00
  500 to 550 lbs. 133.00 to 144.00

Chicago Futures:
Live Cattle: June down 182 at 12182
  Aug down 190 at 12197
Feeders: May down 135 at 13877
  Aug down 215 at 14750

Cattle Comment
Cattle futures were lower across the board. Live cattle were lower on profit taking and ideas that cash cattle are near a seasonal high.

Hogs
Peoria: were     steady   at   54.00   to   56.00

Chicago Futures: May up 10 at 9140
  June down 65 at 9217

Hogs Comment
Hogs were mixed due to their premium to cash prices and weak packer margins. The charts are looking stronger, though, with June challenging resistance at $93, the 50% retracement level of the selloff that occurred in February and March.



Poultry  Date: May 03, 2013

Eggs
New York:  Ex. Lg. 106-110; Lg. 104-108; Med. 95-99;
Chicago:  Ex. Lg. 85-93; Lg. 83-91; Med. 80-88;

National Turkeys
Hens: 8-16 lbs 96.46
Toms: 16-24 lbs 96.56
 

Delmarva Broilers
U.S. Grade A
Prices are mostly steady to slightly lower when compared to the previous week's pricing. Offerings of smaller sized birds are light with offerings of heavier birds being reported as light to moderate. Demand into both retail and food service channels continues to be moderate, while fast food demand remains good. Sizes are desirable to heavy. Floor stocks are balanced. Market activity is moderate.

----------------------------------------

HOW TO UNSUBSCRIBE

You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/ag-markets-statistics/email-signup/

----------------------------------------

QUESTIONS OR COMMENTS?

If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com