5/8/2007 FB Market Report

ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER
Daily Arkansas Market Report for 5/8/2007
--------------------------------------------------------------------------

Grain & Soybean Date: May 08, 2007

Soybeans

Local Elevators:
(May) EAST AR: 675 to 702
(NC) Summ. 712 to 735
River Elevators
(May) MISS: 695 to 703 ; AR & White 680 to 700
(NC) Summ. 712 to 736
Ark. Processor Bids: (May) 693 to 701 (NC) 732 to 735
Memphis: (May) 707 1/2 to 712 1/2 (NC) 734 3/4 to 736 3/4
Riceland Foods: (NC) Stuttgart 701 ; Pendleton 702 ; West Memphis 703
Chicago Futures: Jul down 3 at 739 1/2
Aug down 3 at 746 3/4
Nov down 3 1/2 at 768 3/4
Jan down 3 at 779
Nov '08 down 5 1/4 at 805 3/4
Today's Arkansas LDP rate for soybeans is 0¢

Wheat
Cash bid for new crop at Memphis 451 to 456;
Bids to farmers at Local Elevators 427-443;
River Elevators 428-464;

Chicago Futures: Jul down 13 at 481
Sep down 13 1/4 at 492 3/4
Dec down 11 1/2 at 503
Jul '08 down 9 at 486
Jul '09 down 5 at 490
Today's Arkansas LDP rate for wheat is 0¢

Grain Sorghum
Cash bid for new crop at Memphis 574 to - - -;
Bids to farmers at
River Elevators 546-639;
Today's Arkansas LDP rate for sorghum is 0¢

Corn
Cash bid for May at Memphis 361 1/2 to 365 1/2;
New crop at Memphis 330 1/2 to 332 1/2;
Bids to farmers at River Elevators 339 to 368

Chicago Futures: Jul down 15 1/2 at 363 1/2
Sep down 15 1/4 at 365 1/2
Dec down 16 3/4 at 366 1/2
Dec '08 down 10 at 384
Today's Arkansas LDP rate for corn is 0¢

Grain Comment
Soybeans were a little lower today, as they traded in sympathy with corn. Overall good corn planting progress, 53% complete in yesterday's report, reduces the potential for acreage moving back to soybeans. In the long run this is supportive for soybeans. Downside on beans appears limited. For now key support is $7.50 to $7.45. While resistance becomes the recent high of $7.87.

July wheat prices fell below key support levels today to close at $4.81. Wheat price flirted with breaking the $4.77 support level, but was never able to break it. Prices are in dangerous area from a technical standpoint and could see further price declines. Prices are weakening ahead of Friday's crop report, which has likely come out bearish toward wheat. Prices are finding some support in strengthening export demand and increased movement in old crop wheat.

--------------------------------------------------------------------------

Cotton & Rice Date: May 08, 2007

Cotton
Spot Price, Grade 41 Staple 34: Memphis up 60 at 4445
Greenwood up 60 at 4445

New York Futures: Jul up 10 at 4870
Oct up 5 at 5190
Dec up 24 at 5364
Mar up 20 at 5650
Dec '08 up 10 at 6050
This week's LDP rate for cotton is 11.70 cents.
The estimate for next week is 12.06 cents.

Cotton Comment
Cotton's consolidation pattern continued with last week's low of 52.25 cents becoming current support. The market appears to be working back toward downtrend resistance that is just 50 points or so above today's high of 53.85 cents. I anticipate that resistance holding and the market retesting 52.25 cents again, and perhaps moving slightly lower. Upside potential will be limited until such time that export movement increases substantially. This week's supply/demand report will likely show another downward adjustment in exports and a higher ending stocks numbers. Those big stocks will essentially nullify the 20% decrease in '07 plantings.

Rice
Long Grain Cash Bid for May 900 to 927/cwt
- - - - - - to - - -

Chicago Futures: Jul down 13 1/2 at 1052 1/2
Sep down 14 at 1085
Nov down 11 at 1113
Jan down 11 at 1138
Today's Arkansas LDP rate for long grain rice is is 0¢ cents
medium grain rice is 0¢ cents

Rice Comment
Rice continued to retrace Friday's big gains. Overall fundamentals don't appear to have changed, and don't figure into the big moves either up or down. The planting progress report indicated U.S. plantings at 77% complete, ahead of last year and the 5 year average. Good progress in California offset a slightly slower pace in Arkansas, where planting is 81% complete compared to a norm of 86%. Good weather this week should wrap things up. Last Friday's big move carried through several layers of resistance which have buffered the downward retracement. However, inability to hold at any of those levels suggests a probable move to $11.00. On the upside, Friday's high of $11.40 becomes resistance.
--------------------------------------------------------------------------

Cattle & Hogs Date: May 08, 2007

Cattle
As reported by Federal-State Market News, receipts were 1,229 head at sales in Fort Smith and Marshall.
Compared with last week, feeder steers mostly steady to $1 higher, heifers steady to $1 lower.

Steers:
Medium & Large Frame 1 400 to 450 lbs. 120 to 130
500 to 550 lbs. 111 to 121
600 to 700 lbs. 104 to 114
to lbs. to
Medium & Large Frame 2 400 to 450 lbs. 109 to 119

Heifers:
Medium & Large Frame 1 400 to 450 lbs. 104 to 114
Medium & Large Frame 2 400 to 450 lbs. 97 to 107

Slaughter Cows, Boners 48.50 to 52.50
Light Weight 38 to 41

Bulls, Yield Grade 1 1000 to 2100 lbs. 61.50 to 64.50, high dresing 65-69.50
Midwest Steers n/a at - - - to - - -
Panhandle Steers n/a at - - - to - - -
Oklahoma City Feeders Steers 500 to 550 lbs. 126.50 to 136
600 to 650 lbs. 119.25 to 127
Heifers 500 to 550 lbs. 109 to 115
600 to 650 lbs. 103 to 109.50

Chicago Futures:
Live Cattle: Jun up 37 at 9232
Aug up 102 at 9172
Feeders: Aug up 170 at 11145
Oct up 172 at 11080

Hogs
Peoria: were unchanged at 49.5 to 50
Chicago Futures: Jun down 37 at 7450
Oct down 57 at 6577

Sheep
St. Paul Sheep shorn slaughter lambs choice end prime 110-125 lbs. were at n/a to - - -

Livestock Comment
June live cattle trade was choppy today, as packer margins remain tight and cash prices continue to strengthen. This appears to be a market looking for fresh fundamentals to tell it which way to go. Prices tanked last week as packers bid down cash prices and corn prices strengthened. Current prices are finding support in a weakening corn market; however prices are just a day away from another day of sharp declines as packer margins remain tight to negative and corn market is still very volatile.

May lean hogs broke a key support level today bringing the new support level to 73. Pork prices are unlikely to experience large declines as pork supplies remain tight. Today's drop was the result of large runs in Midwest hogs as the weather finally cooperated with delivery. Strong pork cutout prices combined with tight supplies should support pork prices in the near term.

--------------------------------------------------------------------------

Poultry Date: May 08, 2007

Eggs
New York: Ex. Lg. 102-106; Lg. 100-104; Med. 92-96;
Chicago: Ex. Lg. 95-103; Lg. 93-101; Med. 85-93;

Eastern Region Turkeys
Hens: 8-16 lbs. 75-77
Toms: 16-24 lbs. 75-77

Delmarva Broilers
U.S. Grade A
Trade sentiment was mixed, but overall ranged steady to firm. Supplies of all sizes were in good balance to short of full trade needs. In production areas, live supplies were moderate at mostly desirable weights. The Composite Weighted Average price for 05/07/07 was $79.25 compared to $78.35 a week earlier, and $58.09 a year ago.

-----------------------------------------------------

HOW TO UNSUBSCRIBE

You are receiving this newsletter because you requested that your email address be added to the Arkansas Farm Bureau Daily Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/commodity/daily_rpt_email.asp

-----------------------------------------------------

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 2005
Arkansas Farm Bureau, Inc.
All rights reserved

--------------------------------------------------------------------------

FWD: Morning Manna (May 8); BP: I Pet. 3:13-17; RBTTY: Lk. 24:36-53; II Kings 4-6

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: "Apostle Tom" <pressingon@hotmail.com>
Sent: Mon, 07 May 2007 16:15:57 -0500
To: pressingon@hotmail.com
Subject: Morning Manna (May 8); BP: I Pet. 3:13-17; RBTTY: Lk. 24:36-53; II Kings 4-6
 
 
May 8 “A Ready Reason”  
 
“But sanctify the Lord God in your hearts—and be ready always to give an  
answer to every man that asks you a reason of the hope that is in you with  
meekness and fear.”  
I Peter 3:15  
If it’s hidden in our hearts and always on our mind, it’ll not be far  
from our lips.  
Multi-tasking.  
That’s the modern catchword nowadays for trying to do a lot of things  
at the same time. But, it’s also an easy way to end up trying to do too  
much, which is the formula for mediocrity or insanity!  
 
While it gives us a sense of accomplishment to perform these multiple  
tasks simultaneously, too often we’ll end up, as someone said, “Sacrificing  
the important on the altar of the urgent.” That’s why today’s Manna is such  
an important one for every Pilgrim if we are to “always be ready to given an  
answer to every man of the hope that resides within us.”  
 
Now, it goes without saying that this hope, which comes from God along  
with faith at the new birth, isn’t wishful thinking. It’s not some  
“pie-in-the-sky-by-and-by” belief; neither is it the proverbial “whistling  
in the dark.” Instead, it is the “Anchor of the soul that’s  
sure-and-steadfast” and rooted in Who God is and what He has promised (Heb.  
6:17-20; 11:6).  
 
If we are to “always be ready to give an answer of why we have hope to  
those who ask” (and even those who don’t), we must “sanctify the Lord God in  
our hearts.” The Greek word “hagiazo” is used here for “sanctify” and comes  
from the same root word for “holy” and “saint.” It basically means “to set  
apart, make holy, to consecrate, dedicate, sacred, etc.”  
 
Thus, the picture is clear: If we are to be an “ever-ready Pilgrim”. .  
. “in season and out of season” (II Tim. 4:2). . .the Lord Jesus and what  
He’s done for us can never be very far from the forefront of our minds. We  
can’t compartmentalize Him—i.e., have one part of our life that’s “sacred”  
and the other “secular”—and be able to verbalize a “ready reason for our  
hope” at a moment’s notice.  
 
No, we must insure that Jesus is Number One in our lives and sitting on  
the throne in our hearts if we are to be “holy hopefuls” when the bell  
sounds. Glory! And, as the Apostle Peter reminds us, such sharing should  
always be “with meekness (Grk. ‘prautes’-‘mildness, humility, gentleness,  
etc.’) and fear (reverent awe).” Simply put, it’s easy to slip into a  
spirit of haughtiness when sharing about what God’s doing in our lives if  
we’re not careful.  
 
Oh, dear Pilgrim, are you “ready today to give an answer to those today  
who may ask you why you have calm assurance when they don’t?” Let’s hope  
so. Why not turn off the radio on your way to work today and sing “His Eye  
Is On the Sparrow”. . . “It Is Well With My Soul”. . .or “Rock of Ages”?  
That way His Love will be fresh on your mind and a reason for your Hope  
fresh on your lips should an opportunity arise today.  
 
_________________________________________________________________  
Exercise your brain! Try Flexicon.  
http://games.msn.com/en/flexicon/default.htm?icid=flexicon_hmemailtaglineapril07  
 
 
 

5/7/2007 FB Market Report

ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER
Daily Arkansas Market Report for 5/7/2007
--------------------------------------------------------------------------

Grain & Soybean Date: May 07, 2007

Soybeans

Local Elevators:
(May) EAST AR: 678 to 705
(NC) Summ. 715 to 738
River Elevators
(May) MISS: 697 to 706 ; AR & White 678 to 698
(NC) Summ. 715 to 738
Ark. Processor Bids: (May) 696 to 704 (NC) 735 to 738
Memphis: (May) 707 1/2 to 710 1/2 (NC) 738 1/4 to 740 1/4
Riceland Foods: (NC) Stuttgart 704 ; Pendleton 705 ; West Memphis 706
Chicago Futures: Jul down 5 at 742 1/2
Aug down 3 3/4 at 749 3/4
Nov down 4 at 772 1/4
Jan down 2 1/2 at 782
Nov '08 down 2 at 811
Today's Arkansas LDP rate for soybeans is 0¢

Wheat
Cash bid for new crop at Memphis 464 to 465;
Bids to farmers at Local Elevators 440-456;
River Elevators 441-464;

Chicago Futures: Jul down 3/4 at 494
Sep unchanged at 506
Dec down 1 at 514 1/2
Jul '08 down 1 at 495
Jul '09 up 1 at 495
Today's Arkansas LDP rate for wheat is 0¢

Grain Sorghum
Cash bid for new crop at Memphis 599 to 604;
Bids to farmers at
River Elevators 441-464;
Today's Arkansas LDP rate for sorghum is 0¢

Corn
Cash bid for May at Memphis 379 to 381;
New crop at Memphis 345 3/4 to 347 3/4;
Bids to farmers at River Elevators 355 to 368

Chicago Futures: Jul down 11 3/4 at 379
Sep down 8 3/4 at 380 3/4
Dec down 7 1/4 at 383 1/4
Dec '08 down 3 3/4 at 394
Today's Arkansas LDP rate for corn is 0¢

Grain Comment
Soybeans were lower as they continue to follow corn. Lower oil values also contributed to the weaker market undertone. Weather remains a major factor – weekend rains likely reduced overall corn planting, however improved forecasts send values lower and beans followed. November resistance is last week's high of $7.87, with support starting at the recent low near $7.50. Reports suggest that at least a million acres of corn will move to beans, however the market appears to have adjusted to that fact. Any further revision will pressure the market.

After opening the day higher, wheat prices quickly fell as corn prices came under pressure. However, July wheat managed to recover most of its losses to close down slightly. With freeze damage already factored into the current wheat price the market is now beginning to assess disease risk. Rains over the weekend throughout the Plains with more rain forecast for this week increases the risk of disease in the major wheat growing areas. Wheat prices have support at 4.87, which marks a 50 percent retracement of last months high and low. A close below 4.87 could mark the beginning of sharp declines in wheat prices. The concern over the disease risk will likely support prices in the short term; however be mindful that the downside potential is strong given improvement in the global wheat situation. Both the Ukraine and Australia are reporting improved moisture in their wheat crops.

--------------------------------------------------------------------------

Cotton & Rice Date: May 07, 2007

Cotton
Spot Price, Grade 41 Staple 34: Memphis up 32 at 4385
Greenwood up 32 at 4385

New York Futures: Jul up 32 at 4860
Oct up 35 at 5185
Dec up 29 at 5340
Mar '08 up 15 at 5630
Dec '08 up 29 at 5340
This week's LDP rate for cotton is 11.70 cents.
The estimate for next week is 12.06 cents.

Cotton Comment
Cotton is in a consolidation pattern with trading holding just above last week's spike low of 56.25 cents. Improved export numbers or reduced production will be needed to give this market a boost. The change in loan forfeiture rules is adding confusion to the market. Producers may be faced with negative equity offers as cotton approaches loan maturity. Forfeiture could cost producers as much as $20 per bale under the new rules. Add this to the very slow pace of Chinese imports and it equals a very depressed market situation. Upside potential will be limited until export numbers improve. Overall there are indications ending stocks could be more than 10 million bales. December support is last week's low. Resistance is around 53.5 cents.

Rice
Long Grain Cash Bid for May 941/cwt to - - -
n/a - - - to - - -

Chicago Futures: Jul down 7 at 1066
Sep down 9 at 1099
Nov down 6 at 1124
Jan down 6 at 1149
Today's Arkansas LDP rate for long grain rice is is 0¢ cents
medium grain rice is 0¢ cents

Rice Comment
After a huge spike rally on Friday rice retraced a portion of the gains. Fundamentals don't appear to have changed significantly, but the technical picture was altered by Thursday's move which broke overhead trendline resistance. The move on Friday' carried through several layers of resistance. The final area was at $11.23, which became support and was tested in today's retracement. Inability to hold here would see a probable move back near $11.00. Any subsequent upturn will find resistance at Friday's high of $11.40. This week's planting progress report should show significant improvement.
--------------------------------------------------------------------------

Cattle & Hogs Date: May 07, 2007

Cattle
As reported by Federal-State Market News, receipts were 2,009 head at sales in Springdale.
Compared with last week, feeder steers sold mostly steady, instances $2 higher, heifers sold near steady.

Steers:
Medium & Large Frame 1 400 to 450 lbs. 119 to 129
500 to 550 lbs. 112 to 122
600 to 700 lbs. 105 to 115
to lbs. to
Medium & Large Frame 2 400 to 450 lbs. 118 to 128

Heifers:
Medium & Large Frame 1 400 to 450 lbs. 110 to 120
Medium & Large Frame 2 400 to 450 lbs. 104 to 114

Slaughter Cows, Boners 45 to 52
Light Weight 36 to 42

Bulls, Yield Grade 1 1000 to 2100 lbs. 56 to 63, high dressing 64.50-70.50
Midwest Steers n/a at - - - to - - -
Panhandle Steers n/a at - - - to - - -
Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - --
550 to 600 lbs. 120 to 123
Heifers n/a to - - - lbs. - - - to - - -
550 to 600 lbs. 108.75 to 115.25

Chicago Futures:
Live Cattle: Jun down 22 at 9195
Dec down 22 at 9465
Feeders: Aug up 47 at 10975
Oct up 35 at 10907

Hogs
Peoria: were $.5 higher at 49.5 to 50
Chicago Futures: Jun up 5 at 7487
Oct up 42 at 6635

Sheep
St. Paul Sheep shorn slaughter lambs choice end prime 110-125 lbs. were at n/a to - - -

Livestock Comment
June live cattle prices experienced another day of losses. Prices closed at 91.95, which is getting dangerously close to support levels at 91. If prices fall through this support level the next level of support is at 89. Cattle prices have little fundamental support as beef demand is weak and packer margins remain extremely tight. Firm cash trade is currently supporting prices; however, weakening beef demand may soon pressure price lower.

Lean hogs continued their choppy trade today, and closed up moderately. Continued tight pork supplies combined with firming cash prices are supporting prices, while negative packer margins are keeping prices from seeing large gains. May lean hogs are likely to continue to trade sideways as May hogs have support at $74 and resistance at $76.

--------------------------------------------------------------------------

Poultry Date: May 07, 2007

Eggs
New York: Ex. Lg. 106-110; Lg. 104-108; Med. 95-99;
Chicago: Ex. Lg. 95-103; Lg. 93-101; Med. 85-93;

Eastern Region Turkeys
Hens: 8-16 lbs. 75-77
Toms: 16-24 lbs. 75-77

Delmarva Broilers
U.S. Grade A
Majority prices were unchanged in the West, but higher in the East and Midwest when compared to previous week. Trade sentiment was mixed, ranging steady to firm. 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 email address be added to the Arkansas Farm Bureau Daily Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/commodity/daily_rpt_email.asp

-----------------------------------------------------

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 2005
Arkansas Farm Bureau, Inc.
All rights reserved

--------------------------------------------------------------------------

FWD: Morning Manna (May 6); BP: Rom. 4:16-25; RBTTY: Lk. 23:26-56; I Kings 21-22

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: "Apostle Tom" <pressingon@hotmail.com>
Sent: Sat, 05 May 2007 05:10:20 -0500
To: pressingon@hotmail.com
Subject: Morning Manna (May 6); BP: Rom. 4:16-25; RBTTY: Lk. 23:26-56; I Kings 21-22
 
 
May 6 “Strong Faith”  
 
“He staggered not at the promise of God through unbelief, but was strong in  
faith, giving glory to God—and being fully persuaded that, what He had  
promised, He was able also to perform and, therefore, it was imputed to Him  
for righteousness.”  
Romans 4:20-22  
Doubts stagger, but faith strengthens.  
Most folks 75-years-old are not usually the most adventuresome  
individuals you’ll ever meet. Oh, they might hop in their R.V. on a  
moment’s notice and set sail for parts unknown—but they always have plenty  
of money in their wallet or ATM and they always have plans for not being  
gone too long.  
 
That’s why the story of Abraham is such an intriguing one. Called out  
when he was three-quarters of a century old, this man of faith “went out,  
not knowing where He was going” (Heb. 11:8) when God told him to take his  
wife, Sarai, their nephew, Lot, and all their worldly possessions and head  
off “unto a land that He would show them” (Gen. 12:1).  
 
Talk about “blind faith!”  
Or, was it really that at all?  
So often that’s what we call such actions—i.e., venturing out without a  
roadmap in hand or some type of tangible assurance that things are going to  
work out okay. Yes, we call it “blind faith”. . .“a leap in the dark”. .  
.or some other clever cliché. . .when, in reality, it’s not that at all.  
 
No, Abraham and his family were demonstrating “blessed faith.” Even  
when God told them He was going to bless them with a child (Gen. 15:1-5),  
Abraham “believed in the Lord and it was counted (Heb. ‘chashab’—‘to plait,  
weave together, consider it so, regard as such, etc.’) to him for  
righteousness” (Gen. 15:6). This is basically the same thing Paul was  
saying in our Manna—i.e., “it was imputed (Grk. ‘logizomai’—‘to take an  
inventory of, conclude, esteem, etc.’) to Him for righteousness.”  
 
Another way to say it is “Because of Abraham’s taking God at His Word,  
God deposited His righteousness in Abraham’s spiritual ‘asset column’.”  
Thus, instead of trying to draw on his own bankrupt account of good works,  
Abraham was able to tap into God’s infinite resources to supply all of his  
needs—even a child in old age.  
 
Although it says “Abraham staggered not (Grk. ‘diakrino’—‘to withdraw  
from, waver, falter, hesitate, doubt, etc.’) at the promise of God through  
unbelief,” he still had a momentary lapse when he “hearkened to Sarai’s  
voice” and sired a child by their handmaiden, Hagar (Gen. 16:1-4).  
 
But, it didn’t take him long to realize the “error of their ways”—and  
some 14 years later the Promised Child, Isaac, was born (Gen. 21:1-5). And,  
some years later he didn’t hesitate to obey God by taking this long-awaited  
child up on Mt. Moriah to sacrifice him as God commanded (Gen. 22:1-10).  
Thankfully, the Lord stayed his hand (vv.11-14) and even today Abraham is a  
beautiful example of what it means to have “strong faith.”  
 
_________________________________________________________________  
Get a FREE Web site, company branded e-mail and more from Microsoft Office  
Live! http://clk.atdmt.com/MRT/go/mcrssaub0050001411mrt/direct/01/  
 
 
 

5/4/2007 FB Market Report

ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER
Daily Arkansas Market Report for 5/4/2007
--------------------------------------------------------------------------

Grain & Soybean Date: May 05, 2007

Soybeans

Local Elevators:
(May) EAST AR: 683 to 710
(NC) Summ. 719 to 742
River Elevators
(May) MISS: 703 to 711 ; AR & White 683 to 703
(NC) Summ. 719 to 742
Ark. Processor Bids: (May) 701 to 709 (NC) 739 to 742
Memphis: (May) 712 1/2 to 715 1/2 (NC) 354 1/2 to 356 1/2
Riceland Foods: (NC) Stuttgart 709 ; Pendleton 710 ; West Memphis 711
Chicago Futures: Jul down 1/4 at 747 1/2
Aug down 2 at 753 1/2
Nov down 1/2 at 776 1/4
Jan down 1 at 784 1/2
Nov '08 down 1 1/4 at 813
Today's Arkansas LDP rate for soybeans is 0¢

Wheat
Cash bid for new crop at Memphis 464 3/4 to - - -;
Bids to farmers at Local Elevators 441-452;
River Elevators 440-463;

Chicago Futures: Jul up 1/4 at 494 3/4
Sep up 1 1/2 at 506
Dec up 1/2 at 515 1/2
Jul '08 up 1 1/2 at 496
Jul '09 up 3 at 494
Today's Arkansas LDP rate for wheat is 0¢

Grain Sorghum
Cash bid for new crop at Memphis 612 to 617;
Bids to farmers at
River Elevators 596-661;
Today's Arkansas LDP rate for sorghum is 0¢

Corn
Cash bid for May at Memphis 388 3/4 to 392 3/4;
New crop at Memphis 354 1/2 to 356 1/2;
Bids to farmers at River Elevators 367 to 380

Chicago Futures: Jul up 1 1/2 at 390 3/4
Sep up 2 1/2 at 389 1/2
Dec up 3 1/4 at 390 1/2
Dec '08 up 1/2 at 397 3/4
Today's Arkansas LDP rate for corn is 0¢

Grain Comment
Soybean prices closed the day relatively unchanged. Large carryover stocks and the potential for acreage shift from corn to soybeans continues to pressure prices. Corn prices rose today as rain continue across the corn belt. Given the current weather situation trade was relatively light today, posing the question what will Monday look like as another round of showers is forecast to cross the corn belt Sunday through Tuesday.

Wheat prices traded sideways today. Hopefully the market has absorbed most of the news from the Kansas wheat tour which should help stabilize prices in the near term. Price outlook will have a hard time strengthening as reports indicate that Oklahoma, Colorado and perhaps Texas are headed for record high yields. This would more than offset devastating losses in Arkansas and Missouri.

--------------------------------------------------------------------------

Cotton & Rice Date: May 04, 2007

Cotton
Spot Price, Grade 41 Staple 34: Memphis down 12 at 4353
Greenwood down 12 at 4353

New York Futures: Jul down 12 at 4828
Oct down 5 at 5150
Dec up 6 at 5311
Mar up 30 at 5615
Dec '08 up 23 at 6008
This week's LDP rate for cotton is 11.70 cents.
The estimate for next week is 12.06 cents.

Cotton Comment
November rice found support from yesterdays' gains, and broke through both resistance points pointed out yesterday to close just below the contract high of 11.58. The rice move today appears to be a technical move for prices to remain this high new fundamentals will have to be realized.

Rice
Long Grain Cash Bid for May 900 to 950/cwt
Jun 900/cwt to - - -

Chicago Futures: Jul up 35 at 1073
Sep up 36 at 1108
Nov up 28 at 1130
Jan up 28 at 1155
Today's Arkansas LDP rate for long grain rice is is 0¢ cents
medium grain rice is 0¢ cents

Rice Comment
Cotton prices traded sideways today, experiencing very small gains. Cotton prices continue to have difficulty finding any support. Until exports begin to show signs of life cotton will have to wait for some kind of technical move to raise prices.
--------------------------------------------------------------------------

Cattle & Hogs Date: May 04, 2007

Cattle
As reported by Federal-State Market News, receipts were 8,920 head at sales in Arkansas this week.
Compared with last week, feeder steers under 600 lbs. sold $2-$5 lower, over 600 lbs. $2-$4 higher.

Steers:
Medium & Large Frame 1 400 to 450 lbs. 121 to 131
500 to 550 lbs. 112 to 122
600 to 700 lbs. 106 to 116
to lbs. to
Medium & Large Frame 2 400 to 450 lbs. 111 to 121

Heifers:
Medium & Large Frame 1 400 to 450 lbs. 108 to 118
Medium & Large Frame 2 400 to 450 lbs. 100 to 110

Slaughter Cows, Boners 47 to 53
Light Weight 36 to 43

Bulls, Yield Grade 1 1000 to 2100 lbs. 59 to 64.50, high dressing $64.50-$69
Midwest Steers were $2.50 higher at 96.50 to - - -
Panhandle Steers were $.50-$1 higher at 96 to 96.50
Oklahoma City Feeders Steers 500 to 550 lbs. 117 to 132
600 to 650 lbs. 110 to 131
Heifers 500 to 550 lbs. 103 to 118.50
600 to 650 lbs. 102.50 to 116

Chicago Futures:
Live Cattle: Jun up 45 at 9217
Dec up 5 at 9487
Feeders: Aug down 37 at 10927
Oct down 12 at 10872

Hogs
Peoria: were steady to $.50 higher at 49 to 49.50
Chicago Futures: Jun up 130 at 7482
Oct up 32 at 6592

Sheep
St. Paul Sheep shorn slaughter lambs choice end prime 110-125 lbs. were at n/a to - - -

Livestock Comment
June live cattle prices experienced small gains today, as cash prices strengthened somewhat after yesterday's sharp declines. However, there is little fundamental support on the horizon to trigger a rebound in price. Live cattle prices have strong support at $89-90.

Cash hog prices began to strengthen today adding support to May hogs helping them close with gains for the first time in days. Hog prices have support at $75.

--------------------------------------------------------------------------

Poultry Date: May 04, 2007

Eggs
New York: Ex. Lg. 106-110; Lg. 104-108; Med. 95-99;
Chicago: Ex. Lg. 95-103; Lg. 93-101; Med. 85-93;

Eastern Region Turkeys
Hens: 8-16 lbs. 75-77
Toms: 16-24 lbs. 75-77

Delmarva Broilers
U.S. Grade A
Majority prices for next week were trending higher in the Midwest and East, but unchanged in the West. Trade sentiment was steady in the West, steady to firm elsewhere. In production areas, live supplies were moderate at mostly desirable weights.

-----------------------------------------------------

HOW TO UNSUBSCRIBE

You are receiving this newsletter because you requested that your email address be added to the Arkansas Farm Bureau Daily Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/commodity/daily_rpt_email.asp

-----------------------------------------------------

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 2005
Arkansas Farm Bureau, Inc.
All rights reserved

--------------------------------------------------------------------------

5/4/2007 FB Market Report

ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER
Daily Arkansas Market Report for 5/4/2007
--------------------------------------------------------------------------

Grain & Soybean Date: May 05, 2007

Soybeans

Local Elevators:
(May) EAST AR: 683 to 710
(NC) Summ. 719 to 742
River Elevators
(May) MISS: 703 to 711 ; AR & White 683 to 703
(NC) Summ. 719 to 742
Ark. Processor Bids: (May) 701 to 709 (NC) 739 to 742
Memphis: (May) 712 1/2 to 715 1/2 (NC) 354 1/2 to 356 1/2
Riceland Foods: (NC) Stuttgart 709 ; Pendleton 710 ; West Memphis 711
Chicago Futures: Jul down 1/4 at 747 1/2
Aug down 2 at 753 1/2
Nov down 1/2 at 776 1/4
Jan down 1 at 784 1/2
Nov '08 down 1 1/4 at 813
Today's Arkansas LDP rate for soybeans is 0¢

Wheat
Cash bid for new crop at Memphis 464 3/4 to - - -;
Bids to farmers at Local Elevators 441-452;
River Elevators 440-463;

Chicago Futures: Jul up 1/4 at 494 3/4
Sep up 1 1/2 at 506
Dec up 1/2 at 515 1/2
Jul '08 up 1 1/2 at 496
Jul '09 up 3 at 494
Today's Arkansas LDP rate for wheat is 0¢

Grain Sorghum
Cash bid for new crop at Memphis 612 to 617;
Bids to farmers at
River Elevators 596-661;
Today's Arkansas LDP rate for sorghum is 0¢

Corn
Cash bid for May at Memphis 388 3/4 to 392 3/4;
New crop at Memphis 354 1/2 to 356 1/2;
Bids to farmers at River Elevators 367 to 380

Chicago Futures: Jul up 1 1/2 at 390 3/4
Sep up 2 1/2 at 389 1/2
Dec up 3 1/4 at 390 1/2
Dec '08 up 1/2 at 397 3/4
Today's Arkansas LDP rate for corn is 0¢

Grain Comment
Soybean prices closed the day relatively unchanged. Large carryover stocks and the potential for acreage shift from corn to soybeans continues to pressure prices. Corn prices rose today as rain continue across the corn belt. Given the current weather situation trade was relatively light today, posing the question what will Monday look like as another round of showers is forecast to cross the corn belt Sunday through Tuesday.

Wheat prices traded sideways today. Hopefully the market has absorbed most of the news from the Kansas wheat tour which should help stabilize prices in the near term. Price outlook will have a hard time strengthening as reports indicate that Oklahoma, Colorado and perhaps Texas are headed for record high yields. This would more than offset devastating losses in Arkansas and Missouri.

--------------------------------------------------------------------------

Cotton & Rice Date: May 04, 2007

Cotton
Spot Price, Grade 41 Staple 34: Memphis down 12 at 4353
Greenwood down 12 at 4353

New York Futures: Jul down 12 at 4828
Oct down 5 at 5150
Dec up 6 at 5311
Mar up 30 at 5615
Dec '08 up 23 at 6008
This week's LDP rate for cotton is 11.70 cents.
The estimate for next week is 12.06 cents.

Cotton Comment
November rice found support from yesterdays' gains, and broke through both resistance points pointed out yesterday to close just below the contract high of 11.58. The rice move today appears to be a technical move for prices to remain this high new fundamentals will have to be realized.

Rice
Long Grain Cash Bid for May 900 to 950/cwt
Jun 900/cwt to - - -

Chicago Futures: Jul up 35 at 1073
Sep up 36 at 1108
Nov up 28 at 1130
Jan up 28 at 1155
Today's Arkansas LDP rate for long grain rice is is 0¢ cents
medium grain rice is 0¢ cents

Rice Comment
Cotton prices traded sideways today, experiencing very small gains. Cotton prices continue to have difficulty finding any support. Until exports begin to show signs of life cotton will have to wait for some kind of technical move to raise prices.
--------------------------------------------------------------------------

Cattle & Hogs Date: May 04, 2007

Cattle
As reported by Federal-State Market News, receipts were 8,920 head at sales in Arkansas this week.
Compared with last week, feeder steers under 600 lbs. sold $2-$5 lower, over 600 lbs. $2-$4 higher.

Steers:
Medium & Large Frame 1 400 to 450 lbs. 121 to 131
500 to 550 lbs. 112 to 122
600 to 700 lbs. 106 to 116
to lbs. to
Medium & Large Frame 2 400 to 450 lbs. 111 to 121

Heifers:
Medium & Large Frame 1 400 to 450 lbs. 108 to 118
Medium & Large Frame 2 400 to 450 lbs. 100 to 110

Slaughter Cows, Boners 47 to 53
Light Weight 36 to 43

Bulls, Yield Grade 1 1000 to 2100 lbs. 59 to 64.50, high dressing $64.50-$69
Midwest Steers were $2.50 higher at 96.50 to - - -
Panhandle Steers were $.50-$1 higher at 96 to 96.50
Oklahoma City Feeders Steers 500 to 550 lbs. 117 to 132
600 to 650 lbs. 110 to 131
Heifers 500 to 550 lbs. 103 to 118.50
600 to 650 lbs. 102.50 to 116

Chicago Futures:
Live Cattle: Jun up 45 at 9217
Dec up 5 at 9487
Feeders: Aug down 37 at 10927
Oct down 12 at 10872

Hogs
Peoria: were steady to $.50 higher at 49 to 49.50
Chicago Futures: Jun up 130 at 7482
Oct up 32 at 6592

Sheep
St. Paul Sheep shorn slaughter lambs choice end prime 110-125 lbs. were at n/a to - - -

Livestock Comment
June live cattle prices experienced small gains today, as cash prices strengthened somewhat after yesterday's sharp declines. However, there is little fundamental support on the horizon to trigger a rebound in price. Live cattle prices have strong support at $89-90.

Cash hog prices began to strengthen today adding support to May hogs helping them close with gains for the first time in days. Hog prices have support at $75.

--------------------------------------------------------------------------

Poultry Date: May 04, 2007

Eggs
New York: Ex. Lg. 106-110; Lg. 104-108; Med. 95-99;
Chicago: Ex. Lg. 95-103; Lg. 93-101; Med. 85-93;

Eastern Region Turkeys
Hens: 8-16 lbs. 75-77
Toms: 16-24 lbs. 75-77

Delmarva Broilers
U.S. Grade A
Majority prices for next week were trending higher in the Midwest and East, but unchanged in the West. Trade sentiment was steady in the West, steady to firm elsewhere. In production areas, live supplies were moderate at mostly desirable weights.

-----------------------------------------------------

HOW TO UNSUBSCRIBE

You are receiving this newsletter because you requested that your email address be added to the Arkansas Farm Bureau Daily Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/commodity/daily_rpt_email.asp

-----------------------------------------------------

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 2005
Arkansas Farm Bureau, Inc.
All rights reserved

--------------------------------------------------------------------------

Bi-Weekly Market Briefings for 05-04-07

ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER
Bi-Weekly Market Briefings for 05-04-07
--------------------------------------------------------------------------

http://www.arfb.com

Corn has continued its Planting Intentions Report slide. That report has indicated 90.5 million acres were to be planted in corn this year.

September Futures gapped lower over the next two sessions, stabilized and retraced to the breakout point.

Since then, the trade has been sideways-to-lower and stayed below a down trend drawn off the contract high and other rebound highs. At this point, September has completed a 50-percent "retracement" of earlier gains and has been getting good support just below $3.60.

Projecting where the market goes from here is like forecasting the weather. In fact, weather, weather, weather will be the key over the next three to four weeks.

Cool, wet conditions restricted planting to only 23 percent planted through April 29. That compares to 48 percent last year and 42 for the last five years. Good weather is needed to keep acres in corn.

Watch forecasts for the Midwest to get an idea about how much progress is being made. Your futures charts will be a quick monitor.

Good planting conditions will likely shove corn below $3.60 and towards the $3.37, 62-percent retracement objective. Poor planting conditions will likely push September corn above $3.80 and potentially above $4.

Soybeans have been holding above $7.50 as futures have reacted similarly to corn and slid lower in the past few weeks. The difference, though, is beans have held above the January Report gap.

In the last two weeks, the market has traded sideways with support at $7.50. This was surprising, considering: a) the rising projected stocks in the monthly Supply/Demand Report; b) the huge South American crop; and c) a subtle shift of export sales to the south.

As in corn, weather obviously is the key. A substantial 10–14-day planting window will reduce the chance of acres moving back to beans. This will put beans in a tightening stocks situation in '08.

A November close below $7.45 will bring $7.21 and $6.92 retracement objectives into play. A close above $7.80 will indicate further upside potential.

As we've discovered more and more damage to the Wheat crop from the Easter freeze, July Futures have moved more than $1 higher to a $5.30 contract high. Since then, improved world conditions have keyed a partial retracement of those gains, and a recent close below $5 has suggested that further declines are probable.
Retracement objectives are $4.90, $4.78, and $4.66. The latter was major support during the life of this contract.

Time will tell the full extent of the freeze damage. There is little question, however, that Arkansas was hit hardest.

˜The Cotton decline may be ending. Technically, it's showing initial signs of a rebound.
A Relative Strength Index value near 20 and a price/RSI diversion for the July Contract both indicate the market is oversold. That is, price has set a new low, and the RSI hasn't. That's not much to hang our hats on, but we're seeing subtle shifts in fundamentals.

China's buying is increasing, but won't be enough to reach the latest USDA estimate.
We'll see further upward adjustments in ending stocks in subsequent reports. Some suggest those stocks will be 10 million bales-plus.

A slow start to a much smaller planted acreage hasn't boosted the market, but it should in time. Old crop is testing key support at 46½ cents as May expires. New-crop December may find support around 52 cents, and that will provide 55–57-cent rebound objectives.

Rice export demand is slow. While mills are shipping against prior sales to Cuba, Haiti and Africa, most are operating well under capacity. Without new sales, this'll get worse as summer approaches.

However, smaller 2007 U.S. plantings will lead to smaller long-grain stocks and, barring further GMO issues, should mean a rebound in new-crop futures.

November has honored a downward trend in the past six weeks, but has support at $10.90. If that falls, the next support is the $10.65 late-March low.

A close above $11 will open the market to retest resistance at 20-cent intervals up to the $11.58 contract high.

Information from Alan Levitt. Futures for all Dairy commodities are significantly higher.
June '07–March '08 Class III Futures have closed at record highs, and August and September briefly have traded above $18. With Non-Fat Dry Milk Futures for September–November topping $1.80, October Class IV Futures were bid to $19.75.

Spot Butter has topped $1.40 for the first time since January '06. Blocks are now 36½ cents, about 32 percent, higher than a year ago.

Whey Futures have continued to climb, despite Dairy Market News warning that the market had been weakening. DMN reports that Central states dry whey traded for 72¼–78¼ cents as this is written, down 3 cents from a week ago.

Demand from feed users has diminished, alleviating some tightness that has driven the market the last few months.

Live Cattle prices have been trading sideways in the past few weeks, flirting with $91-$92 support levels, but never breaking that support.

Strong cash prices have helped hold up prices and keep them above support. However, negative packer margins have worked against prices.
Packer margins are improving this week, adding some much needed support to the market.

Lean Hog prices have come under pressure this past week, as National Agricultural Statistics Service reported higher frozen pork stocks. However, these stocks should begin to lessen as demand rises during the summer grilling season.

Prices still are finding support in a robust export market. Considering the large export demand and the seasonal increase in the U.S., hog prices are likely to begin strengthening in coming weeks.

Contact:
• Gene Martin (501) 228-1330, gene.martin@arfb.com .
• Brandy Carroll (501) 228-1268, brandy.carroll@arfb.com .
• Bruce Tencleve (501) 228-1856, bruce.tencleve@arfb.com .
• Matt King (501) 228-1297, matt.king@arfb.com .

--------------------------------------------------------------------------
We promised you your own bank, and here it is - www.farmbureaubank.com

Created by members who understand your financial needs like no other bank can.
Backed by the strength, stability and leadership of Farm Bureau.
Go ahead. See what better banking is all about.
Call 1-800-492-FARM
Personal Bankers are available Monday - Friday, 7am to 7pm CST
--------------------------------------------------------------------------
QUESTIONS OR COMMENTS?
If you have any comments or questions about this e-newsletter please
e-mail us at:
mktrpt@arfb.com
--------------------------------------------------------------------------

HOW TO UNSUBSCRIBE

You are receiving this newsletter because you requested that
your email address be added to the Arkansas Farm Bureau Daily
Market Report.

To unsubscribe or change your subscription information, go to

http://www.arfb.com/commodity/daily_rpt_email.asp

--------------------------------------------------------------

QUESTIONS OR COMMENTS?

If you have any comments or questions about this e-newsletter
Please email 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 rig