Grain & Soybean Date: September 2, 2010

Soybeans

Local Elevators:
(Sept) EAST AR:  966 to 993
(NC) Summ. 966 to 993
River Elevators:
(Sept) MISS: 990 to 1004 ; AR & White 966 to 974
(NC) Summ. 968 to 1002
Ark. Processor Bids: (Sept) 976 to 977  (NC) 976 to 977
Memphis:  (Sept) 1004 to 1009 (NC)  1004 to 1009
Riceland Foods:  (Sept) Stuttgart 976 ; Pendleton 993 ; West Memphis 1002

Chicago Futures:	Nov	up	3 1/2	at	1009
	Jan	up	3 1/2	at	1018 1/2
	Mar	up	4 1/4	at	1025
	May	up	4 3/4	at	1029 1/4
	Nov 11	up	4 1/4	at	1005 1/2
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans closed slightly higher after moving to both sides of yesterday’s close. A poor export report pressured soybeans early, as did indications that southern harvest yields to date have been good. A weaker dollar and firmer equities and oil allowed for a late rebound. Prospects of increased plantings in South America may be a downward factor in the near future. Initial November support starts around $9.90.

Wheat
Cash bid for Sept at Memphis  613 3/4 to 703 3/4;

Bids to farmers at Local Elevators	615-635;
River Elevators	622-655;

Chicago Futures:	Dec	up	5	at	713 3/4
	Mar	up	4 3/4	at	737 3/4
	May	up	3 3/4	at	734 3/4
	July	down	3/4	at	715
	Sept 11	down	3/4	at	720
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for September at Memphis  824 to - - -;

Bids to farmers at River Elevators	746-807;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	September at Memphis   422 1/2 to 424 1/2;
	- - - at Memphis   - - - to - - -;
Bids to farmers at River Elevators	394 to 418

Chicago Futures:	Dec	up	3/4	at	447 1/2
	Mar	up	1	at	460 3/4
	May	up	1	at	467 1/4
	Sept 11	up	3/4	at	461 1/2
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat posted solid gains and was the upside leader in the market today. July remains in a 40 to 50 cents trading range with support around $6.85. Russian President Putin indicated today that the grain export ban won’t be lifted until at least the next harvest, and then only if the crop is big enough to rebuild stockpiles.

Corn managed minor gains, supported by a strong export report. December continues to push as resistance just below $4.50, but again was unable to move that level. Prospects that this year’s yield will be below the USDA projection of 165 bushels per acre is keeping the market firm. Demand is expected to be exceptional, keeping stocks relatively low despite a possible crop of 13 billion bushels or more.

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Cotton & Rice  Date: September 2, 2010

Cotton

Spot Price, Grade 41 Staple 34:	Memphis up 74 at  9012
	Greenwood up  74 at 9012

New York Futures:	Dec	up	208	at	8949
	Mar	up	241	at	8795
	May	up	206	at	8744
	July	up	203	at	8755
	Oct 11	up	145	at	8197
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton blasted through the long term chart resistance at the 2008 high of 91.38 cents in early trading. October futures were just short of 92 cents. An improving Chinese economy, a weaker U.S. dollar, and tightening of projected ending stocks have given the market new enthusiasm. Futures have spent little time above 80 cents in the past 15 years and have topped 90 cents just twice in that time frame – March 2008 and today. Technically, the market is heavily overbought and subject to a downward correct at almost any time. On the other hand, funds may or may not be ready to stop buying cotton.

Rice

Long Grain Cash Bid for	Sept	850/cwt	to	963/cwt
	- - -	- - -	to	- - -

Chicago Futures:	Nov	up	9 1/2	at	1143
	Jan	up	8 1/2	at	1169
	Mar	up	8	at	1195 1/2
	May	up	6	at	1222
	July	up	5	at	1249 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice stopped the downturn of the past two days and closed higher. Harvest activities are near a peak and the U.S. crop should be a good one. Demand appears to be improving. The international market is still firming with an apparent tightening of available stocks due to big sales by Vietnam.

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Cattle & Hogs  Date: September 2, 2010

Cattle
As reported by Federal-State Market News, receipts were 4,309 head at sales in Charlotte, Ratcliff and Green Forest.  Compared with last week, feeder steers sold $2 to $4 lower .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	122.75	to	- - -
	500	to	550 lbs.	118.00	to	- - -
	600	to	650 lbs.	110.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	116.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	106.75	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	105.50	to	- - -

Slaughter Cows, Boners 47.00   to   54.00
Light Weight NA to - - -
Bulls, Yield Grade   1-2   1000   to   2100 lbs.   63.00   to   70.00
Midwest Steers   were $1 higher   at   97.00   to   - - -
Panhandle Steers   were $1 higher to steady   at   97.00   to   - - -

Oklahoma City Feeders
Steers	550	to	600 lbs.	108.00	to	117.00
	600	to	650 lbs.	104.00	to	108.50
Heifers	400	to	450 lbs.	107.00	to	115.00
	500	to	550 lbs.	108.00	to	113.00

Chicago Futures:

Live Cattle:	Oct	up	70	at	9845
	Feb	up	77	at	10185
Feeders:	Oct	up	65	at	11550
	Jan	up	97	at	11577

Cattle Comment
Cattle futures ended higher. Renewed fund buying and ideas that demand will pick up again after Labor Day helped boost futures.

Hogs
Peoria: were $3 lower to $1     higher   at   51.00   to   53.00

Chicago Futures:	Oct	up	147	at	7642
	Dec	up	127	at	7415

Sheep
St. Paul NA   at   - - -   to   - - -

Hogs Comment
Hogs posted solid gains. A weaker U.S. dollar should help increase export interest particularly to Japan. Packer margins remain good and that should give the market a boost next week.

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Poultry  Date: September 2, 2010

Eggs

New York:	Ex. Lg. 128-132; Lg. 126-130; Med. 86-90;
Chicago:	Ex. Lg. 132-140; Lg. 130-138; Med. 95-103;

Eastern Region Turkeys

Hens:	8-16 lbs	103.00
Toms:	16-24 lbs	102.50

Delmarva Broilers
U.S. Grade A
Price trend for whole broilers and fryers is steady. Offerings are light to moderate. Demand is moderate for the upcoming holiday and first of the month business. The market activity is slow to moderate. In the parts structure, movement is light to moderate for late week business. In production areas, live supplies are light to moderate. Weights are desirable to light. Market activity is slow for parts.