11/30/2009 Farm Bureau Market Report

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Grain & Soybean Date: November 30, 2009 Soybeans Local Elevators: (Nov) EAST AR:  1016 to 1037 (NC) Summ. 1018 to - - - River Elevators: (Nov) MISS: 1038 to 1066 ; AR & White 1019 to 1029 (NC) Summ. 1046 to 1081 Ark. Processor Bids: (Nov) 1025 to 1033  (NC) 1049 to 1063 Memphis:  (Nov) 1042 1/2 to 1057 1/2 (NC)  n/a to - - - Riceland Foods:  (Nov) Stuttgart 1032 ; Pendleton 1037 ; West Memphis 1050 Chicago Futures: Jan '10 up 7 1/2 at  1060 1/2   Mar '10  up  7 1/4  at  1066   May '10 up 8 1/2  at  1068 3/4   Jul '10 up 9  at  1074 1/2   Nov '10 up 4 1/4  at  1052   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans pushed to new recent highs before ending the day firm. Great demand, primarily exports to China, are a major factor in the current upturn. Domestic crush is also strong. The next question is whether funds will be big buyers the first of December, like they did in November. If that’s the case we could see a close above resistance at $10.68 with a potential retest of the June double top at $11.05. The market appears to be overpriced based on fundamentals and could be subject to a quick set back. Corn rallied from early weakness to move back above $4 and making the late October high of $4.13 ½ a potential target. Weather should allow for continued harvest activities, however high moisture levels are a problem. Most farmers are waiting for moisture levels to fall before harvesting, and elevators are limiting the amount of high moisture grain they will take. Wheat Cash bid for November at Memphis  473 to - - -; Bids to farmers at Local Elevators 548-552; River Elevators 542-575; Chicago Futures: Dec up  18 3/4  at  567 1/2    Mar '10 up 19  at  588 3/4    Jul '10 up  17  at  610 1/4    Sep '10 up  16 1/4  at  624 1/4    Dec '10 up  18 1/2  at  646 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for November at Memphis  692 to 719; Bids to farmers at River Elevators 605-680; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for November at Memphis   396 3/4 to 400 3/4;   new crop at Memphis   372 1/4 to 412 1/4; Bids to farmers at River Elevators  374 to 403 Chicago Futures: Dec up  5 1/2  at  402 3/4    Mar '10 up  4  at  417 1/2    Jul '10 up  3  at  435 3/4    Dec '10 up  3  at  448 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat posted sharp gains today, but there is little fundamental justification for the strength. Wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. December has resistance at the recent high of $5.81. Cotton & Rice  Date: November 30, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 59 at  6968   Greenwood down  59 at 6968 New York Futures: Dec up  101  at  7075    Mar '10 up  84  at  7468    May '10 up  88  at  7585    Dec '10 up  99  at  7741    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton rebounded from last Friday’s downturn closing near the day’s highs. December is only a week away from expiration making March the lead contract with resistance just under 76 cents. The next long term resistance is at 77, then 76 cents. With beans and corn at current levels, cotton will have to exceed these levels to entice acreage. Rice Long Grain Cash Bid for  Dec 1410/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 down  9 1/2  at  1530 1/2    Mar '10 down  8 1/2  at  1558    May '10 down  6 1/2  at  1583 1/2    Jul '10 down  6 1/2  at  1608    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures remain in a consolidation pattern that has contained most trading for the month. The market has upside potential if the international situation remains volatile. The Phillipines have issued a number of big import tenders which have kept the international market on edge. In addition, India is expected to need to import rice at some point. However, they are expected to take a more subtle approach than the Phillipines. Thailand continues to control a large amount of intervention stocks which could be released into the market at some point. U.S. milled prices remain slightly above other offerings and as of yet little new business has resulted. Cattle & Hogs  Date: November 30, 2009 Cattle As reported by Federal-State Market News, receipts were n/a head at sales in - - -.  Compared with last week, feeder steers - - - . Steers:  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - - Heifers:  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - -  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - - Slaughter Cows, Boners n/a   to   - - - Light Weight n/a to - - - Bulls, Yield Grade   n/a   - - -   to   - - - lbs.   - - -   to   - - - Midwest Steers   were $1.50 lower to $1 higher   at   81.50   to   84 Panhandle Steers   were $2 lower to $1 higher   at   82   to   85 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: Dec steady at 8320   Feb '10 up 25 at 8572 Feeders: Jan '10 up 45 at 9295   Mar '10 up 60 at 9375 Cattle Comment Cattle futures were a bit higher today. Expectations for larger market ready cattle supplies and weaker beef demand continue to limit the upside potential of the market. Hogs Peoria: were     steady   at   30   to   32 Chicago Futures: Dec down 42 at 5860   Feb '10 down 45 at 6687 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures turned lower on profit-taking. Futures already hold a wide premium to cash prices and that could limit the upside. Friday’s high of $68.05 is the first level of resistance. Poultry  Date: November 30, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86-88 Toms: 16-24 lbs. 86-88   Delmarva Broilers U.S. Grade A The market tone was steady. Demand was seasonally light to fair. Supplies of all sizes were sufficient to satisfy trade needs. In production areas, live supplies were moderate at 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

Spread the No Farms No Food Message with T-shirts, Hats, and More

 

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	Dear Agriculture,   Give the perfect gift  with a package of No Farms No Food bumper stickers. You asked for more ways to spread the No Farms No Food message and we have delivered! Spread the No Farms No Food message all year with one of our new products including warm hoodies, travel mugs, t-shirts and more. You will get free shipping on orders made today! Simply enter coupon code FREESHIP2DAY.  In addition to our new No Farms No Food merchandise, you can make an even greater impact this season. Share your passion for farmland protection and inspire your friends and family by giving them a gift membership. An American Farmland Trust membership is the perfect present for anyone on your list who enjoys fresh local food, cares about protecting the environment and wants to preserve one of our country’s greatest resources—our working lands. Whether you give a friend a No Farms No Food t-shirt, or give a gift membership, you can sit back and enjoy the satisfaction of joining thousands of other Americans who have helped save farm and ranch land this holiday season. Sincerely, American Farmland Trust
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© Copyright 2006, American Farmland Trust. All rights reserved. 1200 18th Street, Suite 800 Washington, DC 20036 (202)-331-7300

11/25/2009 Farm Bureau Market Report

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Grain & Soybean Date: November 25, 2009 Due to the Thanksgiving Holiday the daily Farm Bureau market report will resume on Monday, November 30. Today's prices have been quoted prior to settlement. Soybeans Local Elevators: (Nov) EAST AR:  - - - to - - - (NC) Summ. - - - to - - - River Elevators: (Nov) MISS: - - - to - - - ; AR & White - - - to - - - (NC) Summ. - - - to - - - Ark. Processor Bids: (Nov) - - - to - - -  (NC) - - - to - - - Memphis:  (Nov) - - - to - - - (NC)  - - - to - - - Riceland Foods:  (Nov) Stuttgart - - -- ; Pendleton - - - ; West Memphis - - - Chicago Futures: Jan '10 up 8 1/2 at  1054 1/2   Mar '10  up  8 3/4  at  1060 3/4   May '10 up 9 1/2  at  1063 3/4   July '10 up 10 1/2  at  1069   Nov '10 up 13 3/4  at  1049 3/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans reversed overnight losses to firm in late trading. January futures moved above $10.50 and remain in position to test recent resistance just above $10.65. Outside markets and demand are providing a solid base for soybeans. The October crush while a little below expectations was almost 9% above the year ago level. While everything looks positive, keep in mind a big South American crop is anticipated and a downturn is anticipated. Some projections put beans at $8 or less for next year. Wheat Cash bid for November at Memphis  - - - to - - -; Bids to farmers at Local Elevators - - -; River Elevators - - -; Chicago Futures: Dec up  17 1/4  at  550 1/4    Mar '10 up 18  at  571 1/2    May '10 up  18  at  584 1/4    July '10 up  18  at  594 1/4    Sept '10 up  18 1/2  at  609    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for November at Memphis  - - - to - - -; Bids to farmers at River Elevators - - -; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for November at Memphis   - - - to - - -;   New crop at Memphis   - - - to - - -; Bids to farmers at River Elevators  - - - to - - - Chicago Futures: Dec up  16  at  392    Mar '10 up  16  at  408    July '10 up  16 3/4  at  427 1/4    Dec '10 up  15 3/4  at  441 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was posting sharp gains at midday. A sharp downturn in the value of the dollar provided the justification for the move. However, wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. Corn led today’s upturn after a major selloff over the last week. With a third of the crop still in the field there remains concern about this year’s final production. Weather could limit harvest later this week. Cotton & Rice  Date: November 25, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis unchanged - - - at  - - -   Greenwood unchanged  - - - at - - - New York Futures: Dec down  45  at  7107    Mar '10 down  30  at  7522    May '10 down  16  at  7631    July '10 down  18  at  7686    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton was moderately lower in limited preholiday trade. With the Midsouth harvest nearing completion some yields are better than thought, but some are significantly lower. USDA will likely reduce the ’09 crop in subsequent reports. Quality will also be a problem. Stocks could fall below current projections of 4.9 million bales. Cotton futures will have to move higher to entice acreage away from soybeans and corn unless those prices decline. Rice Long Grain Cash Bid for  - - - - - -  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 up  21 1/2  at  1549    Mar '10 up  22 1/2  at  1575    May '10 up  22 1/2  at  1599 1/2    July '10 up  24  at  1623    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment January rice futures moved to a new high as the market continues to firm on international rice concerns, primarily India’s need to import rice. At the same time, typhoons will keep the Philippines in the market. In some quarters it has been suggested that this could push the market sharply higher. On the other hand, Thailand has huge intervention stocks available with a new crop harvest near. This could limit upside potential. Technically, rice futures have long term retracement objectives starting at $16.35. Cattle & Hogs  Date: November 25, 2009 Cattle As reported by Federal-State Market News, receipts were 644 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers sold mostly steady on a light preholiday test . Steers:  Medium & Large Frame 1   400 to 450 lbs. 104.25 to - - -   500 to 550 lbs. 93.25 to - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame 2   400 to 450 lbs. 86.75 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 79.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 76 to - - - Slaughter Cows, Boners 36.50   to   41 Light Weight 25 to 30 Bulls, Yield Grade   1   1400   to   2300 lbs.   48   to   52.50 Midwest Steers   were steady to $1 higher   at   83   to   - - - Panhandle Steers   were $1 to $2 higher   at   84   to   - - - Oklahoma City Feeders Steers - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - - Heifers - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Dec up 27 at 8367   Feb '10 up 25 at 8575 Feeders: Jan '10 up 7 at 9330   Mar '10 down 2 at 9427 Cattle Comment Cattle futures were mostly higher at midday, also thanks to a weaker dollar. The market is being held in check, though, by economic concerns. Hogs Peoria: were 50¢ to $2     higher   at   33   to   - - - Chicago Futures: Dec up 80 at 5942   Feb '10 up 165 at 6765 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hog futures were showing double digit gains at midday. Sharp gains in cash values were supportive today, but futures already hold a wide premium to cash prices, so the upside could be limited. Poultry  Date: November 25, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86-88 Toms: 16-24 lbs. 86-88   Delmarva Broilers U.S. Grade A The market tone was steady. Pre-holiday demand was seasonally fair to moderate with most interest focus on holiday items. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate; at mixed, but 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

Obama and Indecision - A Soap Opera!

Willy realizes that the idea of sending more troops to a foreign country to be in harms way is a major decision that should not be taken lightly.  However, Willy also realizes that for every moment that the President hesitates on this decision - things change, and more young soldiers are in harms way and this decision might make things better.

So Willy's question is Why wait?  There is every indication that the President knows right now what his decision will be.  If he knows what the decision is and if it is so all fired important for this decision to get made and if the whole country is hanging on the decision with many young men and women wondering -- will I be called up or not.... WHY NOT REVEAL THE DECISION NOW?

THIS IS NOT A SOAP OPERA MR. PRESIDENT - MAKE A DECISION - IF YOU HAVEN'T ALREADY AND MOVE FORWARD.

YOU ARE PAID TO THINK QUICK ON YOUR FEET AND TO MAKE THE DECISIONS FOR THE COUNTRY.   

I SURE HOPE YOU DON'T EVER HAVE TO MAKE QUICK DECISIONS AS THOSE THAT BUSH MADE ON 9/11.    YOU PROBABLY WILL HAVE TO THINK ABOUT IT FOR A MONTH - MAKE YOUR DECISION AND THEN LET PEOPLE KNOW YOU PROBABLY KNOW WHAT YOU ARE GOING TO DO .... BUT TELL US NEXT WEEK.

10-4 WILLY

11/24/2009 Farm Bureau Market Report

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Grain & Soybean Date: November 24, 2009 Soybeans Local Elevators: (Nov) EAST AR:  991 to 1022 (NC) Summ. 995 to - - - River Elevators: (Nov) MISS: 1031 to 1046 ; AR & White 1007 to 1022 (NC) Summ. 1031 to 1066 Ark. Processor Bids: (Nov) 1000 to 1018  (NC) 1031 to 1048 Memphis:  (Nov) 1043 to - - - (NC)  - - - to - - - Riceland Foods:  (Nov) Stuttgart 1022 ; Pendleton 1027 ; West Memphis 1040 Chicago Futures: Jan '10 up 4 at  1046   Mar '10  up  4 1/4  at  1052   May '10 up 5  at  1054 1/4   July '10 up 6  at  1058 1/2   Nov '10 up 10  at  1036   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans reversed yesterday’s move and closed higher despite weaker crude oil. Index funds continue to support the soybean market along with strong export demand. China is buying beans at an incredible rate with no indication they will slow down in the near term. Technically, yesterday’s high above $10.65 is key resistance. Support starts at $10.20. Wheat Cash bid for November at Memphis  514 to 518; Bids to farmers at Local Elevators 439-463; River Elevators 546 1/4; Chicago Futures: Dec down  24 1/4  at  533    Mar '10 down 25  at  553 1/2    May '10 down  24 3/4  at  566 1/4    July '10 down  24 1/4  at  576 1/4    Sept '10 down  23 3/4  at  590 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for November at Memphis  645 to 671; Bids to farmers at River Elevators 557-632; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for November at Memphis   371 to 375;   New crop at Memphis   348 1/4 to 388 1/4; Bids to farmers at River Elevators  347 to 376 Chicago Futures: Dec down  11 1/4  at  376    Mar '10 down  11 1/4  at  392    July '10 down  10 3/4  at  410 1/2    Dec '10 down  8 1/2  at  426    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures gapped lower on the open and then kept on falling. Bounce-back in the dollar was bearish for futures, but negative fundamentals have been known for some time. Fund selling was the impetus for today’s move. Corn closed lower and is technically weak after breaking trendline support in the overnight session. Corn harvest continues at a slow pace with 14% added to the total last week. Almost 1/3 of the crop remains in the field. While fundamentals would appear supportive, December is likely to test old support near $3.60. Cotton & Rice  Date: November 24, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 104 at  7027   Greenwood up  104 at 7027 New York Futures: Dec up  114  at  7152    Mar '10 up  104  at  7552    May '10 up  107  at  7647    July '10 up  108  at  7704    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton bounced back from yesterday’s late downturn to close with solid gains and in position to test yesterday’s high at 72 cents. With the Midsouth harvest nearing completion some yields are better than thought, but some are significantly lower. USDA will likely reduce the ’09 crop in subsequent reports. Quality will also be a problem. Stocks could fall below current projections of 4.9 million bales. Cotton futures will have to move higher to entice acreage away from soybeans and corn unless those prices decline. Rice Long Grain Cash Bid for  Nov 1400/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 up  4 1/2  at  1527 1/2    Mar '10 up  4 1/2  at  1552 1/2    May '10 up  5 1/2  at  1577    July '10 up  4  at  1599    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures continue to edge higher while consolidating just below the recent high of $15.44. On the international scene, the market has firmed with suggestions that India will need to import rice. At the same time, typhoons will keep the Philippines in the market. In some quarters it has been suggested that this could push the market sharply higher. On the other hand, Thailand has huge intervention stocks available with a new crop harvest near. This could limit upside potential. Technically, rice futures have long term retracement objectives starting at $16.35. Cattle & Hogs  Date: November 24, 2009 Cattle As reported by Federal-State Market News, receipts were 663 head at sales in Fort Smith.  Compared with last week, feeder steers were not reported last week . Steers:  Medium & Large Frame 1   400 to 450 lbs. 113.75 to - - -   500 to 550 lbs. 99 to - - -   600 to 650 lbs. 93.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 99.50 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 85.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 84.25 to - - - Slaughter Cows, Boners 35   to   39.50 Light Weight - - - to - - - Bulls, Yield Grade   1   1000   to   2100 lbs.   - - -   to   - - - Midwest Steers   were   at   82   to   83 Panhandle Steers   were   at   82   to   83 Oklahoma City Feeders Steers 500 to 550 lbs. 107 to 116   550 to 600 lbs. 102 to 109 Heifers 500 to 550 lbs. 89 to 92.25   550 to 600 lbs. 86 to 90.50 Chicago Futures: Live Cattle: Dec down 65 at 8340   Feb '10 down 32 at 8550 Feeders: Jan '10 up 35 at 9322   Mar '10 up 40 at 9430 Cattle Comment Cattle futures were mixed. While the market remains technically weak, it is showing signs of a possible bottom. December futures would need to close above $86 to confirm a low, though. Hogs Peoria: were     steady   at   31   to   32.50 Chicago Futures: Dec up 32 at 5862   Feb '10 up 47 at 6600 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hog futures continued to climb higher. Firm cash prices and surprisingly strong exports are supporting the market. Poultry  Date: November 24, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86-88 Toms: 16-24 lbs. 86-88   Delmarva Broilers U.S. Grade A The market tone was steady. Pre-holiday demand was seasonally fair to moderate with most interest focus on holiday items. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate; at mixed, but 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

Three Decades of Saving Farmland, A Video For You

 

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	Dear Agriculture,  As we plan to celebrate American Farmland Trust’s 30th anniversary this coming year, I am so grateful for your generous and loyal membership support. For the past three decades, you and your fellow supporters have helped American Farmland Trust make a profound impact on American society in the way we value farmland, farmers and food. Please enjoy this video about American Farmland Trust's work. Our successes over the years have been made possible by supporters like you. From all of us at American Farmland Trust, Happy Thanksgiving!
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© Copyright 2006, American Farmland Trust. All rights reserved. 1200 18th Street, Suite 800 Washington, DC 20036 (202)-331-7300

11/23/2009 Farm Bureau Market Report

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Grain & Soybean Date: November 23, 2009 Soybeans Local Elevators: (Nov) EAST AR:  987 to 1018 (NC) Summ. 991 to - - - River Elevators: (Nov) MISS: 1027 to 1033 ; AR & White 1003 to 1018 (NC) Summ. 1027 to 1062 Ark. Processor Bids: (Nov) 996 to 1014  (NC) 1027 to 1044 Memphis:  (Nov) 1038 to 1039 (NC)  n/a to - - - Riceland Foods:  (Nov) Stuttgart 1018 ; Pendleton 1023 ; West Memphis 1036 Chicago Futures: Jan '10 down 4 at  1042   Mar '10  down  2 1/2  at  1047 3/4   May '10 down 1 1/4  at  1049 1/4   Jul '10 down 1  at  1052 1/2   Nov '10 down 3 1/2  at  1026   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans actually pushed above $10.50 but couldn’t hold above that level into the close. It is obvious the demand side of the equation is keeping soybeans firm. Supplies are sufficient despite the late harvest and quality issues. In addition to strong export interest from China, crushing plants are running near capacity as new crop supplies become available. Potential for heavy meal demand will drive that area for the time being. The next upside objective is August high of $10.68. Corn ended lower after December couldn’t hold early gains above $4. Corn is not seeing the same demand as soybeans as recent export sales have been rather weak. While weather is continuing to hamper harvest there doesn’t seem to be any real concerns, except the potential for mycotoxins. Wheat Cash bid for November at Memphis  457 1/4 to 487 1/4; Bids to farmers at Local Elevators 539-543; River Elevators 533-561; Chicago Futures: Dec down  2 1/2  at  557 1/4    Mar '10 down 2 1/4  at  578 1/2    May '10 down  1 1/4  at  591    Jul '10 down  2 1/4  at  600 1/2    Sep '10 down  3 1/4  at  614 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for November at Memphis  665 to 683; Bids to farmers at River Elevators 577-652; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for November at Memphis   382 1/4 to 389 1/4;   new crop at Memphis   357 1/2 to 397 1/2; Bids to farmers at River Elevators  358 to 377 Chicago Futures: Dec down  3 3/4  at  387 1/4    Mar '10 down  3 3/6  at  403 1/4    Jul '10 down  4 1/4  at  421 1/4    Dec '10 down  1  at  434 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were lower again today. It is apparent that wheat can’t sustain upward momentum without help from the other markets. New crop July is still holding above chart-gap support at $5.96. Cotton & Rice  Date: November 23, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 24 at  6923   Greenwood up  24 at 6923 New York Futures: Dec down  3  at  7038    Mar '10 up  44  at  7448    May '10 up  9  at  7540    Jul '10 down  30  at  7596    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton made a big push higher early, but ended the day no better than mixed. December’s high of 72 cents today is now the first level of resistance. Smaller ’09 crop coupled with serious quality issues could be the basis for a solid upturn. There is little question it will take higher prices to pull acreage in 2010, if beans and corn remain near current levels. Rice Long Grain Cash Bid for  Nov 1398/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 up  6  at  1523    Mar '10 up  6  at  1548    May '10 up  6  at  1571 1/2    Jul '10 up  6  at  1595    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice continued to move in an up and down pattern while consolidating just below the recent high of $15.44. However there is growing interest in this year’s crop as the market looks at typhoon damage in the Philippines and the prospect of India becoming an importer instead of an exporter. India could need to buy 1 to 3 million metric tonnes of rice. That could turn the market upside down. Although Thailand is holding huge intervention stocks, perhaps 6 million metric tonnes, or more; at this point they have held firm. If this continues, the market could have substantial upside. Technically, futures have resistance just under $16, from there you jump to retracement objectives of $16.35, $17.94, and $19.53. Those are the 38%, 50% and 62% retracement objectives of the decline from the ’08 high of $24.68 ½ to the ’09 low of $11.19. Cattle & Hogs  Date: November 23, 2009 Cattle As reported by Federal-State Market News, receipts were n/a head at sales in n/a.  Compared with last week, feeder steers n/a . Steers:  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - - Heifers:  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - -  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - - Slaughter Cows, Boners n/a   to   - - - Light Weight n/a to - - - Bulls, Yield Grade   n/a   - - -   to   - - - lbs.   - - -   to   - - -- - - Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   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: Dec up 10 at 8405   Feb '10 up 40 at 8582 Feeders: Jan '10 up 20 at 9287   Mar '10 up 32 at 9390 Cattle Comment Live cattle futures posted modest gains. While the market remains technically weak, it is showing signs of a possible bottom. December futures would need to close above $86 to confirm a low, though. Early strength came again from the weaker dollar and a stronger stock market. Hogs Peoria: were $1     lower   at   31   to   32.50 Chicago Futures: Dec up 70 at 5830   Feb '10 up 115 at 6552 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Live cattle futures posted modest gains. While the market remains technically weak, it is showing signs of a possible bottom. December futures would need to close above $86 to confirm a low, though. Early strength came again from the weaker dollar and a stronger stock market. Poultry  Date: November 23, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86-88 Toms: 16-24 lbs. 86-88   Delmarva Broilers U.S. Grade A The market tone was steady. Pre-holiday demand was fair to moderate for upcoming Thanksgiving Day, and orders were limited to regular commitments. Supplies of all sizes were sufficient to satisfy trade needs. In production areas, live supplies were moderate at 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