Grain & Soybean Date: July 30, 2010

Soybeans

Local Elevators:
(July) EAST AR:  1043 to 1048
(NC) Summ. 977 to 999
River Elevators:
(July) MISS: 1040 to 1081 ; AR & White 1038 to 1046
(NC) Summ. 979 to 1017
Ark. Processor Bids: (July) 989 to 1055  (NC) 988 to 989
Memphis:  (July) 1017 1/2 to 1065 (NC)  1007 to 1010
Riceland Foods:  (July) Stuttgart 1055 ; Pendleton 1048 ; West Memphis 1081

Chicago Futures:	Sept	up	19 1/4	at	1012
	Nov	up	17	at	1005
	Jan 11	up	15 1/2	at	1011
	Mar 11	up	14 3/4	at	1013
	May 11	up	13	at	1012 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
November beans gapped higher. Investment funds were big buyers as they followed wheat. Export demand remains good with new crop sales ahead of this year’s record pace. A weaker dollar remains positive for exports. For the most part, weather remains favorable and yields should be good. November closed above psychological resistance at $10. The next level of resistance is the chart gap between $10.14 ½ and $10.20.

Wheat
Cash bid for July at Memphis  611 1/2 to - - -;

Bids to farmers at Local Elevators	- - -;
River Elevators	588-637;

Chicago Futures:	Sept	up	34	at	661 1/2
	Dec	up	34 1/4	at	693 3/4
	Mar 11	up	30 1/2	at	713 1/2
	May 11	up	26 1/4	at	714 1/2
	July 11	up	21 1/2	at	710 1/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for July at Memphis  673 to 691;

Bids to farmers at River Elevators	584-659;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	July at Memphis   377 3/4 to - - -;
	New Crop at Memphis   372 3/4 to - - -;
Bids to farmers at River Elevators	363 to 381

Chicago Futures:	Sept	up	13 1/2	at	392 3/4
	Dec	up	13	at	406 3/4
	Mar 11	up	12 1/4	at	418 3/4
	May 11	up	11 1/2	at	425 1/2
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat gapped significantly higher. Resistance on the weekly continuation is seen at the 2009 high of $7.27. The market is technically overbought, though, and a correction could come quickly. This is a weather rally, and weather rallies are often overdone.

December corn closed above psychological resistance at $4 and less than three cents below resistance at the recent high. The market backed off the day’s highs but still ended the day with positive numbers. This still looks like a big crop which will limit upside potential as we approach harvest.

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Cotton & Rice  Date: July 30, 2010

Cotton

Spot Price, Grade 41 Staple 34:	Memphis up 168 at  8161
	Greenwood up  168 at 8161

New York Futures:	Oct	up	168	at	8236
	Dec	up	185	at	7876
	Mar 11	up	108	at	7629
	May 11	up	100	at	7680
	July 11	up	85	at	7747
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton hopped on the bandwagon and posted strong gains. Strong export demand is a rallying point as we move toward harvest. A crop of more than 19 million bales is expected as conditions generally remain favorable. The Texas crop is expected to be very good while some areas in the Midsouth and southeast are facing dry conditions and heavy insect pressure. Exports are projected to be more than 14 million bales with China a major importer. Today’s December close above previous resistance at 77 cents will open the market for a retest of recent highs near 80 cents.

Rice

Long Grain Cash Bid for	July	835/cwt	to	- - -
	Aug/Nov	955/cwt	to	- - -

Chicago Futures:	Sept	up	41 1/2	at	1055 1/2
	Nov	up	42 1/2	at	1082
	Jan 11	up	42 1/2	at	1108
	Mar 11	up	42 1/2	at	1134 1/2
	May 11	up	42	at	1163 1/2
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures also posted sharp gains today, but fundamentals remain negative. A big 2010 U.S. crop and big Thai intervention stocks will limit upside potential. Another Iraqi tender is anticipated, but U.S. price levels would likely need to be as much as $40 lower to get strong consideration. With a big harvest just weeks away, U.S. mills will need new sales.

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Cattle & Hogs  Date: July 30, 2010

Cattle
As reported by Federal-State Market News, receipts were 8,669 head at sales in Arkansas this week.  Compared with last week, feeder steers sold mostly steady to $2 higher .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	133.50	to	- - -
	500	to	550 lbs.	119.50	to	- - -
	600	to	650 lbs.	113.50	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	118.00	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	111.00	to	- - -
Medium & Large Frame 2	400	to	450 lbs.	109.25	to	- - -

Slaughter Cows, Boners 52.00   to   59.00
Light Weight 37.00 to 46.00
Bulls, Yield Grade   1   1000   to   2100 lbs.   68.00   to   74.00
Midwest Steers   - - -   at   - - -   to   - - -
Panhandle Steers   were   at   93.00   to   - - -

Oklahoma City Feeders
Steers	550	to	600 lbs.	110.00	to	126.75
	600	to	650 lbs.	113.00	to	123.00
Heifers	550	to	600 lbs.	106.00	to	120.00
	600	to	650 lbs.	101.00	to	116.50

Chicago Futures:

Live Cattle:	Aug	up	80	at	9265
	Oct	up	112	at	9460
Feeders:	Aug	steady		at	11372
	Nov	up	37	at	11472

Cattle Comment
December cattle recovered all of yesterday’s gains and then some. The market found support this week at $95.25. Speculative buying buoyed the cattle market as well.

Hogs
Peoria: were     steady   at   51.00   to   53.00

Chicago Futures:	Aug	up	97	at	8582
	Dec	up	47	at	7540

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

Hogs Comment
Hog futures were higher again today. Cash hog and pork prices are moving higher, with pork bellies setting new record highs. December is trading at contract-high levels.

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Poultry  Date: July 30, 2010

Eggs

New York:	Ex. Lg. 86-90; Lg. 84-88; Med. 64-68;
Chicago:	Ex. Lg. 80-88; Lg. 78-86; Med. 55-63;

Eastern Region Turkeys

Hens:	8-16 lbs	98.00
Toms:	16-24 lbs	99.50

Delmarva Broilers
U.S. Grade A
Price trend for whole broilers and fryers is steady. Offerings are moderate. Demand is light to moderate entering the weekend and for end of the month business. Market activity is slow to moderate. In the parts structure, movement is moderate. In production areas, live supplies are light to moderate. Weights are desirable to light due to severe heat. The market activity is slow to moderate on parts.