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Arkansas Farm Bureau
Grain & Soybean Date: May 06, 2013

Soybeans

Local Elevators:
(May) EAST AR:  1372 to 1432
(NC) Summ. 1192 to 1215
River Elevators:
(May) MISS: 1379 to 1472 ; AR & White 1374 to 1419
(NC) Summ. 1180 to 1226
Ark. Processor Bids: (May) 1404 to 1455  (NC) 1197 to 1202
Memphis:  (May) 1394 1/4 to 1444 1/4 (NC)  1225 1/4 to -
Riceland Foods:  (May) Stuttgart 1404 ; Pendleton 1409 
 (NC) Stuttgart 1197 ; Pendleton 1215 

Chicago Futures: May down 10 1/2 at  1444 1/2
  July  down  18  at  1369 1/4
  Aug down 18 1/4  at  1317
  Sept down 16  at  1249 3/4
  Nov down 14  at  1207 1/4
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
Soybeans were sharply lower today. Improving weather forecasts have traders expecting to see rapid planting progress made this week. Looking at old crop supplies, strong basis levels and higher futures are aimed at tight holders. Despite the weakness today across the board, November managed to hold above $12.

Wheat
Cash bid for May at Memphis  715 3/4 to 717 3/4;
Bids to farmers at Local Elevators 683-673;
River Elevators 685-719;

Chicago Futures: May down  18 1/2  at  693 
  July down 18 1/4  at  702 3/4 
  Sept down  18  at  712 1/2 
  Dec down  16 1/2  at  728 3/4 
  March down  15 1/2  at  743 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for May at Memphis  1065 to 1137;
Bids to farmers at River Elevators 985-1021;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for May at Memphis   646 1/2 to 686 1/2;
  New Crop at Memphis   539 3/4 to - - -;
Bids to farmers at River Elevators  642 to 675

Chicago Futures: May down  20 3/4  at  678 3/4 
  July down  24 3/4  at  636 1/2 
  Sept down  19 1/2  at  559 3/4 
  Dec down  15 1/4  at  538 1/4 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures gapped lower on carryover weakness. The hard red winter wheat crop is in terrible shape, and more deterioration is expected to show up in this week’s crop condition report. The soft red winter crop is average, at best. July held on to support at $7 today, but a close below that would suggest a retest of support around $6.87.

Corn also gapped lower. Better weather forecasts this week have traders expecting rapid planting progress. Farmers are holding tight to old crop supplies, and corn is being imported from South America by poultry companies to meet current needs. December futures gapped lower today, but found support at $5.32. Failure to hold there would suggest a retest of the recent low of $5.17.



Cotton & Rice  Date: May 06, 2013


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 96 at  8439
  Greenwood up  96 at 8439

New York Futures: May up  59  at  8531 
  July up  96  at  8739 
 Oct up  98  at  8627 
 Dec up  104  at  8595 
 March up  75  at  8559 
This week's LDP rate for cotton is  0 cents
  The estimate for next week is  0 cents
Cotton Comment
Cotton turned higher today. Improving weather should help get the crop in the ground. December will need to close above 87 cents to extend the upturn.

Rice
Long Grain Cash Bid for  May - - -  to  - - -
  NC 1455/cwt  to  - - -

Chicago Futures: May up  11 1/2  at  1531 1/2 
 July up  15 1/2  at  1551 
 Sept up  12  at  1534 1/2 
 Nov up  8 1/2  at  1550 
 Jan up  11  at  1568 1/2 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice futures posted another positive day. Smaller acreage and slow planting progress this year are giving the market a bit of a boost. September gapped higher today, but has trendline resistance near $15.38.



Cattle & Hogs  Date: May 06, 2013

Cattle
As reported by Federal-State Market News, receipts were 1083 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold weak to $5 lower .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 165.00 to - - -
  500 to 550 lbs. 152.50 to - - -
  600 to 650 lbs. 144.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 151.00 to - - -

Heifers:
 Medium & Large Frame 1   500 to 550 lbs. 141.00 to - - -
 Medium & Large Frame 2   400 to 450 lbs. 134.00 to - - -

Slaughter Cows, Boners 74.00   to   81.00
Light Weight 67.00 to 71.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   87.00   to   90.00
Midwest Steers   were   at   127.00   to   131.00
Panhandle Steers   were   at   128.50   to   128.50

Oklahoma City Feeders
Steers 500 to 550 lbs. 162.50 to 169.00
  600 to 650 lbs. 140.00 to 147.00
Heifers 400 to 500 lbs. 144.50 to 153.00
  550 to 600 lbs. 124.00 to 130.50

Chicago Futures:
Live Cattle: June down 52 at 12130
  Aug down 57 at 12140
Feeders: May down 37 at 13840
  Aug down 5 at 14745

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. Today’s move makes the charts look negative, with June moving to its lowest level in 7 sessions.

Hogs
Peoria: were steady to $4     higher   at   56.00   to   58.00

Chicago Futures: May down 35 at 9105
  June down 85 at 9132

Hogs Comment
Hogs were under pressure due to their premium to cash prices and weak packer margins. June turned lower after failing at the 50% retracement near $92.96.



Poultry  Date: May 06, 2013

Eggs
New York:  Ex. Lg. 108-112; Lg. 106-110; Med. 95-99;
Chicago:  Ex. Lg. 95-103; Lg. 93-101; Med. 83-91;

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

Delmarva Broilers
U.S. Grade A
N/A

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