04/30/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 30, 2009 Soybeans Local Elevators: (Apr) EAST AR:  1019 to 1047 (NC) Summ. 884 to 901 River Elevators: (Apr) MISS: 1050 to 1078 ; AR & White 1022 to 1058 (NC) Summ. 885 to 919 Ark. Processor Bids: (Apr) 1034 to 1056  (NC) 994 to 996 Memphis:  (Apr) 1080 to 1081 (NC)  918 1/2 to 923 1/2 Riceland Foods:  (Apr) Stuttgart 1034 ; Pendleton 1034 ; West Memphis 1054 Chicago Futures: May up 36 at  1070   Jul  up  30  at  1055   Sep up 15 1/2  at  980 1/2   Nov up 11  at  943 1/2   Jan '10 up 9 3/4  at  947 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans were sharply higher with old crop leading the charge. Earlier rumors of cancellations by China have not been confirmed and the market sees further tightening of old crop supplies as Argentina’s yields continue to be disappointing. A trendline near $9 remains good support for November futures. Corn closed higher but struggled most of the day. Slow planting progress and prospects of more rain delays helped boost the market. Outside markets provided underlying support. Wheat Cash bid for April at Memphis  458 1/4 to 462 1/2; Bids to farmers at Local Elevators 437-462; River Elevators 452-482; Chicago Futures: May up  3 1/2  at  524 1/4    Jul up 4 1/2  at  536 1/2    Sep up  4 1/4  at  563 1/4    Dec up  4 3/4  at  586 1/4    Mar '10 up  5 1/4  at  602 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  537 to 556; Bids to farmers at River Elevators 613-622; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   398 1/2 to 399 1/2;   new crop at Memphis   377 1/2 to - - -; Bids to farmers at River Elevators  364 to 396 Chicago Futures: May up  3 1/4  at  396 1/4    Jul up  2 1/4  at  403 1/2    Sep up  2  at  412 1/2    Dec up  1 1/2  at  423 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Soft red wheat futures continued to firm in sympathy with spring wheat. Only 15% of the spring crop has been planted to date, that compares with 36% on the 5 year average. Further delays are expected as rain is forecast for much of the area over the weekend. This could add to the more than 4.5 million acres that is projected to move out of U.S. wheat production this year. Cotton & Rice  Date: April 30, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 99 at  5010   Greenwood up  99 at 5010 New York Futures: May up  65  at  5349    Jul up  101  at  5435    Dec up  78  at  5746    Mar '10 up  87  at  5976    - - -   - - -  at  - - -  This week's LDP rate for cotton is  11.49 cents   The estimate for next week is  9.86 cents Cotton Comment December cotton broke resistance just above 57 cents, and closed above that point. This should open the market to move toward the 38% retracement objective at 63.5 cents. Overall fundamentals remain unchanged, with world economic conditions weighing on long term use. Prospects of a smaller U.S. crop in’09 could help boost the market down the line. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May up  5  at  1290    Jul up  1  at  1310    Sep down  1  at  1242 1/2    Nov down  1/2  at  1244    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was slightly higher as the sideways trading pattern continues. Tightening U.S. stocks aren’t expected to get much larger this year as overall plantings increase won’t add a significant amount of rice. However, it is being reported that Thailand has indicated they will put over 3 million metric tonnes of intervention stocks on the market. There is also a possibility that India will put 2-3 mmt of stocks on the market. Cattle & Hogs  Date: April 30, 2009 Cattle As reported by Federal-State Market News, receipts were 2,119 head at sales in Charlotte, Ratcliff & Green Forest.  Compared with last week, feeder steers sold firm to $3 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 119.50 to - - -   500 to 550 lbs. 112 to - - -   600 to 650 lbs. 103.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. n/a to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 98.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.75 to - - - Slaughter Cows, Boners 44   to   48 Light Weight 32 to 40 Bulls, Yield Grade   1   1000   to   2100 lbs.   55   to   60.50, high dressing 60.50-68 Midwest Steers   remained   at   85   to   - - - Panhandle Steers   remained   at   85   to   - - - Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Heifers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Jun down 45 at 8250   Aug down 55 at 8265 Feeders: May down 17 at 9857   Sep down 25 at 9980 Cattle Comment Cattle futures traded in sympathy with hogs and closed lower for the day. Cattle are being offered at $88-90 by feedlots, but the overall trade seems to be slightly weaker as cutout values declined. Stronger weights are a negative as they are running 43 pounds above year ago levels. Hogs Peoria: were $1     lower   at   35.5   to   36 Chicago Futures: Jun down 222 at 6452   Aug down 20 at 6897 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were sharply lower again, as consumer concerns about swine flu brought another heavy selloff. Negative packer margins indicate weaker prices in the cash market. Packers are looking at poor retail demand and ample pork supplies for the time being. Poultry  Date: April 30, 2009 Eggs New York:  Ex. Lg. 78-82; Lg. 76-80; Med. 65-69; Chicago:  Ex. Lg. 72-80; Lg. 70-78; Med. 59-67; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand following the weekend was mostly fair with limited trading. Supplies of all sizes were adequate to satisfy current trade needs. In productions areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- 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://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

04/29/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 29, 2009 Soybeans Local Elevators: (Apr) EAST AR:  1009 to 1024 (NC) Summ. 873 to 890 River Elevators: (Apr) MISS: 1014 to 1044 ; AR & White 1007 to 1022 (NC) Summ. 874 to 908 Ark. Processor Bids: (Apr) 1020 to 1024  (NC) 883 to 885 Memphis:  (Apr) 1044 to 1047 (NC)  907 1/2 to 912 1/2 Riceland Foods:  (Apr) Stuttgart 1024 ; Pendleton 1024 ; West Memphis 1044 Chicago Futures: May up 44 1/2 at  1034   Jul  up  42  at  1025   Sep up 34  at  965   Nov up 32 1/2  at  932 1/2   Jan '10 up 32 1/4  at  937 3/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans shook off early week declines and closed sharply higher. Earlier rumors of cancellations by China have not been confirmed and the market sees further tightening of old crop supplies as Argentina’s yields continue to be disappointing. A trendline near $9 remains good support for November futures. Corn made strong gains today. Slow planting progress and prospects of more rain delays helped boost the market. Outside influences including stronger crude oil and a weaker $ provided underlying support. Wheat Cash bid for April at Memphis  448 3/4 to 453; Bids to farmers at Local Elevators 432-457; River Elevators 444-477; Chicago Futures: May up  10 1/4  at  520 3/4    Jul up 10  at  532    Sep up  10  at  559    Dec up  10 1/4  at  581 1/2    Mar '10 up  9 1/4  at  597    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  517 to 533; Bids to farmers at River Elevators 482-562; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   393 1/4 to 396;   new crop at Memphis   375 1/2 to - - -; Bids to farmers at River Elevators  361 to 393 Chicago Futures: May up  18  at  393    Jul up  17 3/4  at  401 1/4    Sep up  17 3/4  at  410 1/2    Dec up  17 1/2  at  421 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Soft red wheat futures firmed in sympathy with spring wheat. Only 15% of the spring crop has been planted to date, that compares with 36% on the 5 year average. Further delays are expected as rain is forecast for much of the area over the weekend. This could add to the more than 4.5 million acres that is projected to move out of U.S. wheat production this year. Cotton & Rice  Date: April 29, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 59 at  4909   Greenwood up  59 at 4909 New York Futures: May down  505  at  4700    Jul up  111  at  5386    Dec down  441  at  5160    Mar '10 down  242  at  5600    - - -   - - -  at  - - -  This week's LDP rate for cotton is  11.49 cents   The estimate for next week is  9.88 cents Cotton Comment December cotton again tested resistance just above 57 cents, a close above that point would open the market to move toward the 38% retracement objective at 63.5 cents. Overall fundamentals remain unchanged, with world economic conditions weighing on long term use. Prospects of a smaller U.S. crop in’09 could help boost the market down the line. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May up  9 1/2  at  1285    Jul up  10  at  1309    Sep down  2 1/2  at  1243 1/2    Nov down  2 1/2  at  1244 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was mixed as the sideways trading pattern continues. Tightening U.S. stocks aren’t expected to get much larger this year as overall plantings increase won’t add a significant amount of rice. However, it is being reported that Thailand has indicated they will put over 3 million metric tonnes of intervention stocks on the market. There is also a possibility that India will put 2-3 mmt of stocks on the market. Cattle & Hogs  Date: April 29, 2009 Cattle As reported by Federal-State Market News, receipts were 1,233 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers calves sold steady to $1 lower, yearlings firm to $3 higher. Feeder heifers sold steady to $2 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 112.25 to - - -   500 to 550 lbs. 105.75 to - - -   600 to 650 lbs. 99 to - - -  Medium & Large Frame 2   400 to 450 lbs. 98.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 97.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 86.25 to - - - Slaughter Cows, Boners 46   to   50 Light Weight 30 to 34 Bulls, Yield Grade   1   1000   to   2100 lbs.   60   to   65, high dressing untested Midwest Steers   were quoted   at   85   to   - - - Panhandle Steers   remained   at   85   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 114 to 119.50   600 to 650 lbs. 106 to 111.75 Heifers 500 to 550 lbs. 102.25 to 109   600 to 650 lbs. 95 to 101 Chicago Futures: Live Cattle: Jun up 100 at 8295   Aug up 90 at 8320 Feeders: May up 95 at 9875   Sep up 100 at 10005 Cattle Comment Cattle futures made good gains as the swine flu influences began to dissipate. Cattle are being offered at $88-90 by feedlots, but the overall trade seems to be slightly weaker as cutout values declined. Stronger weights are a negative as they are running 43 pounds above year ago levels. Hogs Peoria: were $1     lower   at   36.5   to   37 Chicago Futures: Jun up 45 at 6675   Aug up 142 at 6917 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures finally made a positive move after 2 days of sharp declines. Negative packer margins indicate weaker prices in the cash market. Packers are looking at poor retail demand and ample pork supplies for the time being. Poultry  Date: April 29, 2009 Eggs New York:  Ex. Lg. 82-86; Lg. 80-84; Med. 68-72; Chicago:  Ex. Lg. 72-80; Lg. 70-78; Med. 59-67; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand following the weekend was mostly fair with limited trading. Supplies of all sizes were adequate to satisfy current trade needs. In productions areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- 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://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

Farm and Food Actions: The First 100 Days

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	Dear Agriculture, Give us your input on the first 100 days! As the opening chapter for the new administration concludes, we are thinking about the actions taken by the President and his cabinet during their first 100 days to set an agenda for farm and food policy. Has the course been set to address the problems and opportunities facing agriculture? Are we moving closer to tapping the enormous potential and reach of American agriculture so farms and farmland can: be key engines of our economic recovery help provide solutions for our country’s pressing environmental and energy problems tackle the challenges in developing sustainable local food systems Help us build the administration’s farm and food momentum beyond the first 100 days by completing our survey - Farm and Food Actions: The First 100 Days Your input and support during the last 12 weeks helped shape American Farmland Trust’s key 9 for ’09 policy recommendations that were sent to the new administration—and also provided the encouragement for Agriculture Secretary Vilsack’s strong start. You can help us gain enormous leverage in our work. This spring we have the opportunity to advance a new course for farm and food policy, perhaps marking the start of a greater shift toward green payments, conservation benefits, and a focus on farmland protection and local foods that we championed in the 2008 Farm Bill. But we need your help. We are asking every one of our supporters to complete the Farm and Food Actions: The First 100 Days survey. We will use your input to help shape our work going forward with the administration, so it is important that we hear from you, as well as your friends and family. Please complete the survey today. Thank you for your continued support for our work and the mission of American Farmland Trust. Sincerely, Jon Scholl President American Farmland Trust
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04/28/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 28, 2009 Soybeans Local Elevators: (Apr) EAST AR:  965 to 980 (NC) Summ. 830 to 857 River Elevators: (Apr) MISS: 970 to 1000 ; AR & White 960 to 975 (NC) Summ. 842 to 875 Ark. Processor Bids: (Apr) 876 to 880  (NC) 840 to 852 Memphis:  (Apr) 999 1/2 to - - - (NC)  875 to - - - Riceland Foods:  (Apr) Stuttgart 980 ; Pendleton 980 ; West Memphis 1000 Chicago Futures: May down 15 1/4 at  989 1/2   Jul  down  14  at  983   Sep down 7 3/4  at  931   Nov down 4 1/2  at  900   Jan '10 down 4 1/4  at  905 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans were lower again today, with old crop contracts leading the decline. Recent export success prompted bull spreads - long old crop, short new crop - and the current move appears to be related to an unwinding of those spreads. Soybeans are also weaker relative to corn, as slow progress in planting suggests some acreage will shift to beans. Technically November is testing trendline support. A close below $9.00 would indicate a possible retest of support at $8.38. Corn stabilized to close slightly higher. Slow planting progress and a weaker $ were supportive. Planting progress was reported at 20% compared to a 5 year average of 28%. However, it is very spotted with the Western cornbelt making good progress. Illinois and Missouri are well behind normal and forecasts indicate more rain over the next week. September futures are trading between $3.75 and $4.25. Wheat Cash bid for April at Memphis  439 1/2 to 425 1/2; Bids to farmers at Local Elevators 422-447; River Elevators 434-467; Chicago Futures: May up  2 1/2  at  510 1/2    Jul up 2 1/2  at  522    Sep up  2 1/2  at  549    Dec up  2 3/4  at  571 1/4    Mar '10 up  3  at  587 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  500 to 504; Bids to farmers at River Elevators 450-530; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   375 to 378;   new crop at Memphis   357 3/4 to - - -; Bids to farmers at River Elevators  343 to 370 Chicago Futures: May up  2 3/4  at  375    Jul up  2 3/4  at  383 1/2    Sep up  2 3/4  at  392 3/4    Dec up  2 3/4  at  404 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat ended the session a little higher with slow spring planting offering support. Upside potential is limited with big supplies keeping the export market very competitive. Eventually, weather related yields may help boost the market. Cotton & Rice  Date: April 28, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 32 at  4850   Greenwood down  32 at 4850 New York Futures: May up  8  at  5205    Jul down  32  at  5275    Dec down  49  at  5601    Mar '10 down  63  at  5842    - - -   - - -  at  - - -  This week's LDP rate for cotton is  11.49 cents   The estimate for next week is  9.82 cents Cotton Comment Cotton was lower today after challenging resistance yesterday. A strong uptrend has developed over the last 2 months and it appears hedge funds have seen cotton as a good investment vehicle. Overall economic conditions are not very conducive to higher cotton values, but smaller ’09 plantings and weather could reduce stocks by next year. A December close above 57.2 cents would bring the 38% retracement objective of 63.5 cents into play. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May up  3 1/2  at  1275 1/2    Jul up  7  at  1299    Sep up  11 1/2  at  1246    Nov up  10  at  1247    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice firmed a little as the overall trade remains in a sideways pattern. Tightening U.S. stocks and a slight increase in projected planted acreage shouldn’t change the long term U.S. outlook. A potential problem is large Thai intervention stocks which could be released into the market at some point. For now September continues to trade between $12.54 and $12.10. Cattle & Hogs  Date: April 28, 2009 Cattle As reported by Federal-State Market News, receipts were 788 head at sales in Fort Smith & Heber Springs.  Compared with last week, feeder steers sold weak to $4 lower. Feeder heifers sold unevenly, averaging near steady . Steers:  Medium & Large Frame 1   400 to 450 lbs. 112.50 to - - -   500 to 550 lbs. 105.25 to - - -   n/a to - - - lbs. - - - to - - -  Medium & Large Frame 2   400 to 450 lbs. 104.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 101.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93 to - - - Slaughter Cows, Boners 44   to   50 Light Weight 28 to 34 Bulls, Yield Grade   1   1000   to   2100 lbs.   57   to   64, high dressing 64-66.50 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   were $1-3.50 lower   at   85   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 114 to 119.50   600 to 650 lbs. 106 to 111.75 Heifers 500 to 550 lbs. 102.25 to 109   600 to 650 lbs. 95 to 101 Chicago Futures: Live Cattle: Jun up 15 at 8195   Aug steady at 8230 Feeders: May down 80 at 9780   Sep down 95 at 9905 Cattle Comment Cattle futures were mixed with greatest weakness in feeders. Firm to stronger wholesale beef demand suggests cattle may benefit from the current swine flu situation. However, there are also concerns that export bans might spread to beef. For the time being, whole sale values appear to have topped, but good demand has limited near term downside movement. Hogs Peoria: were $1     lower   at   37.5   to   38 Chicago Futures: Jun down 235 at 6630   Aug down 132 at 6775 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Swine flu reports hit hog futures hard for the second day in a row. Export bans on U.S. pork by several countries added to the negative undertone. Fear of reduced retail demand also triggered weakness. Poultry  Date: April 28, 2009 Eggs New York:  Ex. Lg. 82-86; Lg. 80-84; Med. 68-72; Chicago:  Ex. Lg. 72-80; Lg. 70-78; Med. 59-67; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand following the weekend was mostly fair with limited trading. Supplies of all sizes were adequate to satisfy current trade needs. In productions areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- 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://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

04/27/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 27, 2009 Soybeans Local Elevators: (Apr) EAST AR:  980 to 995 (NC) Summ. 935 to 960 River Elevators: (Apr) MISS: 985 to 1015 ; AR & White 976 to 991 (NC) Summ. 845 to 877 Ark. Processor Bids: (Apr) 991 to 995  (NC) 845 to 855 Memphis:  (Apr) 1014 3/4 to - - - (NC)  879 1/2 to - - - Riceland Foods:  (Apr) Stuttgart 995 ; Pendleton 995 ; West Memphis 1015 Chicago Futures: May down 35 1/2 at  1004 3/4   Jul  down  37  at  997   Sep down 31 1/2  at  938 3/4   Nov down 28 3/4  at  904 1/2   Jan '10 down 28 1/4  at  909 3/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans attempted to rally in today’s early trade, but failed to hold those gains and closed sharply lower. A stronger dollar, weaker crude oil and concern about swine flu triggered further declines late in the session. The decline touched trendline support and puts the market in technical jeopardy. Should November penetrate the trendline, it would bring support at the recent low of $8.38 into play. Corn appeared less vulnerable today, but did end the session 4 to 5 cents lower. Slow planting progress has been supportive - more rain is expected to prolong the delay in the Eastern part of the cornbelt. Good progress was seen in Iowa, Minnesota and Nebraska. Overall September futures remain in a sideways pattern with support near $3.65 and resistance at $4.24. Wheat Cash bid for April at Memphis  440 to 457; Bids to farmers at Local Elevators 420-445; River Elevators 431-465; Chicago Futures: May down  24 1/4  at  508    Jul down 23 3/4  at  519 1/2    Sep down  24  at  546 1/2    Dec down  24 3/4  at  568 1/2    Mar '10 down  23  at  584 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  495 to 522; Bids to farmers at River Elevators 444-525; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   372 1/4 to 375 1/4;   new crop at Memphis   355 to - - -; Bids to farmers at River Elevators  340 to 367 Chicago Futures: May down  4 3/4  at  372 1/4    Jul down  5  at  380 3/4    Sep down  5 1/4  at  390    Dec down  5 1/4  at  401 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was lower despite slow pace of spring planting. The early April freeze appears to have done little damage in Kansas, but the jury is still out in Texas and Oklahoma. July futures are back in position to test recent report around $5.15. Resistance starts around $5.40. Cotton & Rice  Date: April 27, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis  37 at  4882   Greenwood   37 at 4882 New York Futures: May up  27  at  5197    Jul up  37  at  5307    Dec up  12  at  5650    Mar '10 down  6  at  5905    - - -   - - -  at  - - -  This week's LDP rate for cotton is  11.49 cents   The estimate for next week is  9.87 cents Cotton Comment Cotton rebounded to close slightly higher for the session. December hit a new recent high of 56.74 cents and is testing resistance just a few points higher. Big supplies remain a factor, as does the overall economic situation. That is being mitigated by prospects of smaller U.S. plantings in ’09, and the fact that weather induced conditions, drought in Texas, and rain delayed plantings in the mid-south, may impact potential production this year. A close above current resistance just above 57 cents could open December to the 38% retracement objective at 63.54 cents. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May down  14 1/2  at  1272    Jul down  6  at  1292    Sep down  1 1/2  at  1234 1/2    Nov unchanged    at  1237    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was a little lower in the old crop contracts as trading tended to follow the other grains. Overall the market has factored in the tighter stocks situation that was outlined in this month’s supply demand report. The market is following planting progress with real interest as rain continues to impact the mid-south. Cattle & Hogs  Date: April 27, 2009 Cattle As reported by Federal-State Market News, receipts were 3,442 head at sales in Ash Flat, Ola & Springdale.  Compared with last week, feeder steers n/a . Steers:  Medium & Large Frame 1   400 to 450 lbs. 116 to - - -   500 to 550 lbs. 107 to - - -   600 to 650 lbs. 103 to - - -  Medium & Large Frame 2   400 to 450 lbs. 107 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 100.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.50 to - - - Slaughter Cows, Boners 44   to   50 Light Weight 33 to 40 Bulls, Yield Grade   1   1000   to   2100 lbs.   55   to   60, high dressing 61.50-66 Midwest Steers   were $4 lower to $.50 higher   at   83   to   88 Panhandle Steers   were quoted   at   86   to   88.50 Oklahoma City Feeders Steers 500 to 550 lbs. 114.75 to 119.50   600 to 650 lbs. 106.75 to 111.75 Heifers 500 to 550 lbs. 102.25 to 109   550 to 600 lbs. 97.50 to 103.50 Chicago Futures: Live Cattle: Jun down 80 at 8180   Aug down 67 at 8230 Feeders: May down 52 at 9860   Sep down 40 at 10000 Cattle Comment Cattle declined on normal seasonal concerns and the reaction to the swine flu. Wholesale beef appeared to have topped last week. While the market may trend lower in an immediate reaction to swine flu, long term, beef could benefit as the grilling season approaches. Hogs Peoria: were     steady   at   38.5   to   39 Chicago Futures: Jun down 300 at 6865   Aug down 297 at 6907 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were sharply lower because of fear that swine flue would reduce consumer demand. While health agencies assured the public there would be no transfer of the disease from hogs to humans, there was concern consumers would still buy less pork. Poultry  Date: April 27, 2009 Eggs New York:  Ex. Lg. 82-86; Lg. 80-84; Med. 68-72; Chicago:  Ex. Lg. 72-80; Lg. 70-78; Med. 59-67; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand following the weekend was mostly fair with limited trading. Supplies of all sizes were adequate to satisfy current trade needs. In productions areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- 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://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

04/24/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 24, 2009 Soybeans Local Elevators: (Apr) EAST AR:  1015 to 1030 (NC) Summ. 863 to 888 River Elevators: (Apr) MISS: 1020 to 1050 ; AR & White 1011 to 1026 (NC) Summ. 873 to 905 Ark. Processor Bids: (Apr) 1026 to 1030  (NC) 869 to 883 Memphis:  (Apr) 1046 1/4 to 1048 1/4 (NC)  903 1/4 to 908 1/4 Riceland Foods:  (Apr) Stuttgart 1030 ; Pendleton 1030 ; West Memphis 1050 Chicago Futures: May up 2 1/2 at  1040 1/4   Jul  up  2  at  1034   Sep up 4 3/4  at  970 1/2   Nov up 9 3/4  at  933 1/4   Jan '10 up 9 3/4  at  938   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans ended the week on a good note closing higher for the day. A slightly larger than expected March crush figure was also supportive. Potential weather delays in corn planting could push more acres to beans. That remains to be seen as there is still ample time to plant corn. Last week’s high of $9.48 for the November contract could be strong resistance in the weeks ahead. Corn failed to extend yesterday's gains and closed slightly lower. In addition, the California Air Resource Board ruling on the “carbon footprint” for corn ethanol pressured corn. As feared they gave a detrimental ruling at yesterday's meeting. Look for September to work toward resistance near $4.25. Wheat Cash bid for April at Memphis  464 1/4 to 467 1/4; Bids to farmers at Local Elevators 443-468; River Elevators 455-488; Chicago Futures: May up  3  at  532 1/4    Jul up 2 1/2  at  543 1/4    Sep up  2 3/4  at  570 1/2    Dec up  2 1/2  at  593 1/4    Mar '10 up  2  at  607 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  504 to - - -; Bids to farmers at River Elevators 453-533; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   375 to 380;   new crop at Memphis   360 1/4 to - - -; Bids to farmers at River Elevators  345 to 372 Chicago Futures: May down  4  at  377    Jul down  4 1/4  at  385 3/4    Sep down  4 1/2  at  395 1/4    Dec down  4 3/4  at  406 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat posted modest gains; following soybeans higher. A weaker $ and weather delays of planting spring wheat add additional support. Cotton & Rice  Date: April 24, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 59 at  4845   Greenwood up  59 at 4845 New York Futures: May up  70  at  5170    Jul up  59  at  5270    Dec up  35  at  5638    Mar '10 up  29  at  5911    n/a   - - -  at  - - -  This week's LDP rate for cotton is  11.49 cents   The estimate for next week is  9.52 cents Cotton Comment Cotton surged to the highest level this week since late January. There is substantial resistance in the 56 cents area and with the market technically overbought, we could see a setback before the market can exceed this level. There is additional resistance around 59 cents and above that the 38% retracement objective of 63.5 cents. Overall fundamentals are unchanged with big U.S. and world stocks overhanging the market. Weather factors, drought in Texas and wet planting conditions in the mid-South are giving the market some short term hope. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May down  6 1/2  at  1286 1/2    Jul down  12  at  1298    Sep down  5  at  1236    Nov down  7  at  1237    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice is bouncing back and forth and closed lower for the day. Fundamentals are unchanged. Overall, the international market remains slow, but there is concern about what Thailand will do with old intervention stocks. If those are offered on the market, it will change the supply situation. Vietnam’s export ban remains in place and one recent shipment was stopped because it was apparently made after the ban was imposed. For now the cash market remains firm, while futures have moved back into the longer term trading range. Cattle & Hogs  Date: April 24, 2009 Cattle As reported by Federal-State Market News, receipts were 10,715 head at sales in Arkansas this week.  Compared with last week, feeder steers sold unevenly, near steady . Steers:  Medium & Large Frame 1   400 to 450 lbs. 118 to - - -   500 to 550 lbs. 110 to - - -   600 to 650 lbs. 101 to - - -  Medium & Large Frame 2   400 to 450 lbs. 104 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 102 to - - -  Medium & Large Frame 2   400 to 450 lbs. 91.50 to - - - Slaughter Cows, Boners 45   to   50 Light Weight 28 to 33 Bulls, Yield Grade   1   1000   to   2100 lbs.   56   to   60, high dressing 60-65 Midwest Steers   were $1-.50 lower   at   87   to   87.50 Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 105 to 126   600 to 650 lbs. 103.50 to 114.50 Heifers 500 to 550 lbs. 93 to 113   600 to 650 lbs. 90 to 102 Chicago Futures: Live Cattle: Jun down 87 at 8260   Aug down 70 at 8297 Feeders: May down 7 at 9912   Aug down 32 at 10035 Cattle Comment Cattle futures closed mostly lower, despite higher whole sale beef prices. Reports that retailers are shifting demand from beef to other meats was a bearish factor on today’s market. Long term, there is strong resistance at $85. Hogs Peoria: were     steady   at   38.5   to   39 Chicago Futures: Jun down 22 at 7165   Aug down 130 at 7205 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were lower again today. Declining pork composite values are pushing packer margins further into the red. The market will need to see stronger consumer demand, or cash bids will decline to bring packer margins back to the positive side. Poultry  Date: April 24, 2009 Eggs New York:  Ex. Lg. 82-86; Lg. 80-84; Med. 68-72; Chicago:  Ex. Lg. 97-105; Lg. 95-103; Med. 71-79; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was cautiously steady. Demand entering the weekend was fair at best with trading usually limited to regular commitments. Supplies of all sizes were sufficient to satisfy current trade needs. In productions areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- 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://www.arfb.com/commodity_marketing/email/ ---------------------------------------- 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use