Grain & Soybean Date: July 18, 2007

Soybeans

Local Elevators:
(Jul) EAST AR:  763 to 794
(NC) Summ. 786 to 808
River Elevators:
(Jul) MISS: 773 to 798 ; AR & White 754 to 775
(NC) Summ. 775 to 812
Ark. Processor Bids: (Jul) 782 to 791  (NC) 802 to 808
Memphis:  (Jul) 776 1/4 to 791 1/4 (NC)  793 1/2 to 801 1/2
Riceland Foods:  (NC) Stuttgart 791 ; Pendleton 794 ; West Memphis 798

Chicago Futures: Aug up 17 1/2 at  851 1/4
  Nov  up  16  at  876 1/2
  Jan up 16 1/4  at  892
  Mar up 17 3/4  at  903 1/4
  Nov '08 up 16 1/2  at  901 1/2
  Today's Arkansas LDP rate for soybeans is:

Soybean Comment
November soybeans rebounded today after posting losses for the last three days. Today’s rebound kept soybeans from closing the gap set after the June acreage report. Today’s gains come as some worry about the dry weather in parts of the corn belt and national weather service forecast for hot dry weather across the corn belt in the coming weeks. With a 64.1 million acre crop, the soybeans market cannot afford to ignore a forecast for dry weather during this critical time in soybean development.

Wheat
Cash bid for July at Memphis  573 1/2 to 578 1/2;
Bids to farmers at Local Elevators 554-566;
River Elevators 544-582;

Chicago Futures: Sep up  22 1/4  at  623 1/2 
  Dec up 19  at  620 1/2 
  Mar up  22 1/4  at  647 
  Jul '08 up  at  568 1/2 
  Jul '09 up  11  at  569 
  Today's Arkansas LDP rate for wheat is:

Grain Sorghum
Cash bid for new crop at Memphis  596 to 597;
Bids to farmers at River Elevators 507-579;
Today's Arkansas LDP rate for sorghum is:

Corn
Cash bid for July at Memphis   317 to 322;
  new crop at Memphis   291 to 297;
Bids to farmers at River Elevators  267 to 278

Chicago Futures: Sep up  4 1/2  at  327 
  Dec up  5 3/4  at  342 1/2 
  Mar up  6 1/4  at  357 1/2 
  Dec '08 up  5 3/4  at  391 1/2 
  Today's Arkansas LDP rate for corn is:

Grain Comment
Wheat futures posted sharp gains today, but still have strong resistance from the contract highs charted June 29. Strong export demand for U.S. wheat and tight global supplies are supportive, but should be factored into prices at this point.



Cotton & Rice  Date: July 18, 2007


Cotton
Spot Price, Grade 41 Staple 34: Memphis up 109 at  5970
  Greenwood up  109 at 5970

New York Futures: Oct up  84  at  6445 
  Dec up  69  at  6639 
 Mar up  75  at  6930 
 May up  70  at  7000 
 Dec '08 up  95  at  7335 
This week's LDP rate for cotton is  0¢ cents
  The estimate for next week is  0¢ cents
Cotton Comment
Cotton prices experienced modest gains today, as pressure from the corn and soy markets eased on weather concerns. Further strengthening in cotton prices will be difficult for the market, as the market continues to show signs that it is technically overbought. However, strong fundamentals and continued concern about weather conditions may limit the downward potential and help support cotton prices.

Rice
Long Grain Cash Bid for  Aug/Sep/Oct/Nov 973/cwt  to  - - -
  - - - - - -  to  - - -

Chicago Futures: Sep down  1 1/2  at  1014 1/2 
 Nov down  1 1/2  at  1048 
 Jan down  at  1082 
 Mar down  at  1110 
 n/a down  - - -  at  - - - 
Today's Arkansas LDP rate for long grain rice is 
medium grain rice is 
Rice Comment
Rice was one of the few markets that did not benefit from today’s gains in the corn and soybean markets. Lack of fresh demand and a good yield potential for this years crop continue to pressure prices, even though the market is showing signs of being technically oversold.



Cattle & Hogs  Date: July 18, 2007

Cattle
As reported by Federal-State Market News, receipts were 1,193 head at sales in Conway, Ola & Pocahontas.  Compared with last week, feeder steers sold mostly $4-$7 higher .

Steers:
 Medium & Large Frame 1   400 to 450 lbs. 100 to 130
  500 to 550 lbs. 114 to 124
  600 to 700 lbs. 105 to 115
 Medium & Large Frame 2   400 to 450 lbs. 110 to 117

Heifers:
 Medium & Large Frame 1   400 to 450 lbs. 112 to 122
 Medium & Large Frame 2   400 to 450 lbs. 105 to 115

Slaughter Cows, Boners 47   to   52
Light Weight 35 to 40
Bulls, Yield Grade   1   1000   to   2100 lbs.   64   to   68, high dressing 69-71
Midwest Steers   were steady   at   88   to   - - -
Panhandle Steers   were steady   at   88   to   - - -

Oklahoma City Feeders
Steers 500 to 550 lbs. 125 to 132
  600 to 650 lbs. 112 to 120.50
Heifers 500 to 550 lbs. 110 to 117.25
  600 to 650 lbs. 103.50 to 110.75

Chicago Futures:
Live Cattle: Aug down 5 at 9137
  Dec up 72 at 9902
Feeders: Aug down 42 at 11540
  Oct up 17 at 11672

Cattle Comment
Cattle futures were mostly higher. Slower beef demand kept a lid on live prices, and feeders were under pressure from gains in corn.

Hogs
Peoria: were     steady   at   43.5   to   44

Chicago Futures: Aug down 17 at 7385
  Oct up 185 at 7275

Sheep
St. Paul shee shorn slaughter lambs   at   n/a   to   - - -

Hogs Comment
Hog futures were mostly higher, but nearby August was under pressure from its premium to cash prices. Ideas that China will increase imports of U.S. pork were supportive.



Poultry  Date: July 18, 2007

Eggs
New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 89-93;
Chicago:  Ex. Lg. 107-115; Lg. 105-113; Med. 74-82;

Eastern Region Turkeys
Hens: 8-16 lbs. 86-89
Toms: 16-24 lbs. 86
 

Delmarva Broilers
U.S. Grade A
Trade sentiment was mixed, but overall no better than steady with some caution noted. In production areas, live supplies were moderate at mixed weights.