1 Man for President - Mike Huckabee

Click here to view this report online.

Grain & Soybean Date: November 20, 2007 Soybeans Local Elevators: (Nov) EAST AR: 1045 to 1073 (NC) Summ. 1056 to - - - River Elevators: (Nov) MISS: 1042 to 1078 ; AR & White 1053 to 1066 (NC) Summ. 1067 to 1089 Ark. Processor Bids: (Nov) 1062 to 1063 (NC) 1086 to 1088 Memphis: (Nov) 1079 to 1082 (NC) 992 1/2 to - - - Riceland Foods: (NC) Stuttgart n/a ; Pendleton n/a ; West Memphis n/a Chicago Futures: Jan up 16 1/2 at 1087 March up 16 1/4 at 1103 1/2 May up 16 1/4 at 1109 Nov '08 up 11 at 1027 1/2 Nov '09 up 18 at 975 Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans posted solid gains as crude oil and gold led commodity markets higher. Big soybean and soyoil sales contributed to the firm undertone, after overnight markets lost ground. January moved back to within a penny of last week’s contract highs and kept the market in a strong uptrend. Keep in mind that once the market tops, there could be a free fall. But at this point, there has been no indication of topping. Key support starts just above $10.40. Wheat Cash bid for new crop at Memphis 612 1/2 to 613 1/2; Bids to farmers at Local Elevators 593-608; River Elevators 597-613; Chicago Futures: Dec up 17 1/4 at 773 1/2 March up 18 at 796 May up 18 at 783 July '08 up 8 1/2 at 687 1/2 July '09 up 5 at 681 Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for November at Memphis 681 to 806; Bids to farmers at River Elevators 618-680; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for November at Memphis 394 1/4 to 399 1/4; New crop at Memphis 394 1/2 to - - -; Bids to farmers at River Elevators 379 to 391 Chicago Futures: Dec up 3 3/4 at 381 1/4 March up 3 3/4 at 398 1/4 May up 4 at 408 3/4 Dec '08 up 3 1/2 at 424 1/2 Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat charted double digit gains in response to renewed weakness in the dollar and disappointing crop ratings. USDA says now that only 45% of the winter wheat crop is in good to excellent condition. December was limited by downtrending resistance near $7.70 while new crop July stopped about a dime short of the contract high of $6.97. Cotton & Rice Date: November 20, 2007 Cotton Spot Price, Grade 41 Staple 34: Memphis down 10 at 5952 Greenwood down 10 at 5952 New York Futures: Dec up 3 at 6006 March down 10 at 6552 May down 8 at 6719 July down 19 at 6860 Dec '08 down 4 at 7278 This week's LDP rate for cotton is 0 cents The estimate for next week is 0 cents Cotton Comment Cotton ended the session mixed after trading in a narrow trading range. Inability to hold here would likely see trend line support near 64 cents come into play. Reduced export potential and this month’s larger production estimate are keeping pressure on the market. China’s needs appear to have declined from earlier estimates as evidenced by the USDA report week before last where their imports were lowered by 500,000 bales. While old crop is under pressure it is also pulling new crop contracts down and that may mean less acres than thought will be planted in 2008. Rice Long Grain Cash Bid for Nov 1170/cwt to - - - Dec 1170/cwt to - - - Chicago Futures: Jan down 8 at 1297 March down 8 at 1328 May down 8 at 1355 Sept down 8 at 1295 - - - - - - at - - - Today's Arkansas LDP rate for long grain rice is 0 medium grain rice is 0 Rice Comment January rice reversed yesterday’s gains and ended lower and slightly below $13. Fundamentals are unchanged but continue bullish in the near term. However, nothing remains “status quo” and producers should be prepared to take advantage of the market should there be toppings indications. The U.S. rough rice exports continue on a steady pace, well above year ago levels. Mills remain active in meeting earlier sales that should keep them busy into January. On the international level, export bans remain in place in India and Vietnam. Actually, India will export rice but the price has to exceed $425 per ton. Thailand continues to move old intervention stocks while awaiting this year’s harvest. Cattle & Hogs Date: November 20, 2007 Cattle As reported by Federal-State Market News, receipts were 1623 head at sales in Fort Smith and Marshall. Compared with last week, feeder steers and heifers were mostly $1 to $5 lower . Steers: Medium & Large Frame 1 400 to 450 lbs. 115 to 125 500 to 550 lbs. 105 to 115 600 to 700 lbs. 99 to 108.50 Medium & Large Frame 2 400 to 450 lbs. 96 to 106 Heifers: Medium & Large Frame 1 500 to 550 lbs. 90 to 96 Medium & Large Frame 2 400 to 450 lbs. 88 to 98 Slaughter Cows, Boners 41 to 45 Light Weight 27 to 32 Bulls, Yield Grade 1 1000 to 2100 lbs. 52 to 56; high dressing 58 to 58.50 Midwest Steers were $1 higher to $2.50 lower at 91 to - - - Panhandle Steers were $2 higher to $2.50 lower at 91 to - - - Oklahoma City Feeders Steers 500 to 550 lbs. 119 to 121.50 550 to 600 lbs. 111 to 119.50 Heifers 500 to 550 lbs. 104 to 142 550 to 600 lbs. 101 to 109 Chicago Futures: Live Cattle: Feb up 87 at 9827 June up 55 at 9425 Feeders: Jan up 75 at 10957 March up 75 at 11030 Cattle Comment Cattle futures ended higher on gains in the hog pit and improved beef prices. Gains were limited by Friday’s Cattle on Feed report. The total on-feed inventory was virtually unchanged, but a sharp increase in October placements suggests the supply of market ready cattle will be at least adequate in the coming months. Hogs Peoria: were steady at 27.5 to 28 Chicago Futures: Feb up 280 at 6300 June up 20 at 7615 Sheep St. Paul n/a at - - - to - - - Hogs Comment December hogs gapped higher and are working on a bullish reversal on the weekly chart. Technical buying after yesterday’s new low and position evening ahead of the holiday sparked the rally. Future’s premium to cash could limit the upside. Poultry Date: November 20, 2007 Eggs New York: Ex. Lg. 159-163; Lg. 157-161; Med. 141-145; Chicago: Ex. Lg. 148-156; Lg. 146-154; Med. 132-140; Eastern Region Turkeys Hens: 8-16 lbs. 94-96 Toms: 16-24 lbs. 94-96 Delmarva Broilers U.S. Grade A Movement of ready-to-cook whole birds was seasonally light to fair and generally noted as sufficient in keeping the bulk of available offerings cleared satisfactorily. Live supplies were moderate; weights were trending heavier, but reported mostly desirable. Processing schedules ranged moderate to moderately heavy. Less than trucklot asking prices remained unchanged at 69 to 83 cents. Trade sentiment was mostly steady. ---------------------------------------- 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://click.aristotle.net/click.aspx?lid=18IdRgpb8u ---------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com Arkansas Farm Bureau 10720 Kanis Road Little Rock, AR 72211 501-224-4400 Copyright 2007 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use