| Forward | ||||||||||||
We’ve known it all along: What we eat directly affects our health. But what most people don’t know is that the farm bill influences what we eat. Right now, U.S. farm policy heavily subsidizes commodity crops while providing little support for fruit and vegetable production. Worse yet, the farm bill has under- funded most programs that make it easier for Americans to eat fresh, The Farm Bill Final StretchSummer is over, Congress is back in session and it is back to business with the farm bill. As we approach the final stretch, your efforts to raise awareness in your community about the importance of the farm bill are doubly important. The more voices that call on Congress to fund our priorities, the better our chances for a balanced farm bill that reflects the needs of all Americans. Use our blogging images and messages to spread the word on the Web, and get ready for more action alerts starting in September once the Senate begins their mark-ups. Get active and sign up for AFT's action network today! More than 70 percent of the land in Champaign County, Illinois, located approximately 150 miles south of Chicago, is considered “prime farmland.” In a place where farming is so important to the livelihood of the area, one would think that planning for agriculture is prominent on most county meeting agendas. Wrong. “Most cities and counties plan for development, but in order to sustain the success of agriculture, communities must engage in a long range visioning/planning process to determine what the current, as well as the desired future role of agriculture is,” says Hal Barnhart, Champaign county farmer and co-chair of the Champaign County Farm Bureau Land Use Committee. In Champaign, municipalities currently plan for development and growth; as a result, agriculture is viewed as a land use that has always existed, and it is assumed that agriculture always will exist—as a land use that needs no planning. However, AFT’s Anita Zurbrugg recently spoke in Champaign County about the importance of planning for agriculture, presenting current trends of farmland loss in the region. If a county wants to plan for agriculture, Zurbrugg emphasized that traditional farmland preservation [PDF] is only one tool. The business of agriculture [PDF] and the farmers involved must also be a part of the equation. After Zurbrugg’s presentation, the outlook for Champaign is hopeful: the county has begun work on a Land Resource Management Plan and talk is spreading about the future role of farmland, farmers and agriculture. | ||||||||||||
| Forward | ||||||||||||
| © Copyright 2006, American Farmland Trust. All rights reserved. 1200 18th Street, Suite 800 Washington, DC 20036 (202)-331-7300 | ||||||||||||
Soybeans
Local Elevators:
(Sep) EAST AR: 781 to 803
(NC) Summ. 829 to 848
River Elevators:
(Sep) MISS: 798 to 813 ; AR & White 791 to 810
(NC) Summ. 830 to 854
Ark. Processor Bids: (Sep) 803 to 811 (NC) 848 to 851
Memphis: (Sep) 808 to 813 (NC) 851 to 853
Riceland Foods: (NC) Stuttgart 803 ; Pendleton 803 ; West Memphis 802
| Chicago Futures: | Sep | down | 3 1/2 | at | 889 |
| Nov | down | 4 1/2 | at | 903 | |
| Jan | down | 4 | at | 918 1/2 | |
| Mar | down | 3 3/4 | at | 928 3/4 | |
| Nov '08 | down | 3 1/2 | at | 918 | |
| Today's Arkansas LDP rate for soybeans is: | 0¢ | ||||
Soybean Comment
Soybeans turned lower today. After recent gains, a corrective pullback can be expected. Losses were limited by ideas that soybean yields will be disappointing. Hot, dry conditions in August in southern growing areas hurt yield potential there, and now there are reports of disease problems in the Mid-west due to excessive moisture.
Wheat
Cash bid for September at Memphis 720 1/2 to 735 1/2;
| Bids to farmers at Local Elevators | 546; |
| River Elevators | 526-556; |
| Chicago Futures: | Sep | up | 35 1/2 | at | 342 1/2 |
| Dec | up | 30 | at | 835 1/2 | |
| Mar | up | 30 | at | 831 1/4 | |
| Jul '08 | up | 5 1/4 | at | 626 1/4 | |
| Jul '09 | down | 4 | at | 606 | |
| Today's Arkansas LDP rate for wheat is: | 0¢ | ||||
Grain Sorghum
Cash bid for September at Memphis 601 to 617;
| Bids to farmers at River Elevators | 505-580; |
| Today's Arkansas LDP rate for sorghum is: | 0¢ |
Corn
| Cash bid for | September at Memphis 268 3/4 to 270 3/4; |
| new crop at Memphis n/a to - - -; | |
| Bids to farmers at River Elevators | 252 to 265 |
| Chicago Futures: | Sep | down | 8 | at | 328 3/4 |
| Dec | down | 7 1/2 | at | 345 3/4 | |
| Mar | down | 7 1/2 | at | 361 3/4 | |
| Dec '08 | down | 4 1/2 | at | 396 3/4 | |
| Today's Arkansas LDP rate for corn is: | 0¢ | ||||
Grain Comment
Old crop wheat was limit-up again today. News that Egypt purchased 470,000 tons of wheat, 360,000 of which came from the U.S., was the impetus for todays move. At current prices, that suggests panic buying. The current supply situation is well known, but the cumulative sales total is nearly double the year-ago comparison, and that is providing support for futures.
Cotton & Rice Date: September 05, 2007
Cotton
| Spot Price, Grade 41 Staple 34: | Memphis down 110 at 5560 |
| Greenwood down 110 at 5560 |
| New York Futures: | Oct | down | 110 | at | 5835 |
| Dec | down | 99 | at | 6058 | |
| Mar | down | 94 | at | 6391 | |
| May | down | 85 | at | 6485 | |
| Dec '08 | down | 70 | at | 6950 | |
| This week's LDP rate for cotton is | 3.12 cents | ||||
| The estimate for next week is | 1.20 cents | ||||
Cotton futures turned lower on profit taking after recent big gains and improved crop ratings. December futures found support at the recent gap at $60.38, and have retracement objectives of 61.31, 62.72 and 64.14 cents. Strong export sales are supportive, and it appears traders wanted to get in the market before the recent bargain disappeared. It is no secret that producers are being swayed by high grain and soybean prices. Many cotton producers are contemplating planting wheat and double cropping soybeans, or putting additional acreage in corn. Great corn yields combined with strong levels could reduce 08 planting significantly unless cotton futures move considerably higher.
Rice
| Long Grain Cash Bid for | Sep/Oct | 980 | to | 1029/cwt |
| Nov | 1018/cwt | to | - - - |
| Chicago Futures: | Sep | down | 11 | at | 1092 |
| Nov | down | 10 1/2 | at | 1118 1/2 | |
| Jan | down | 9 | at | 1148 | |
| Mar | down | 9 | at | 1175 | |
| n/a | down | - - - | at | - - - | |
| Today's Arkansas LDP rate for long grain rice is | 0¢ | ||||
| medium grain rice is | 0¢ | ||||
November rice ended lower, but traded within yesterdays trading range. November has completed a 62% retracement, which could signal a move toward the contract high of $11.58. Tightening world stocks and a second consecutive year of smaller U.S. production may make the market susceptible to wide swings. Potential tenders from Iraq and the Philippines have kept the market optimistic, while mills continue to operate on a very reduced schedule. With Vietnam having reached their export quota, Thailand and the U.S. will be the major sources for rice in the near term. Longer term rice prices may have to move higher to keep acreage in the U.S. from moving to wheat, corn and soybeans.
Cattle & Hogs Date: September 05, 2007
Cattle
As reported by Federal-State Market News, receipts were 1,218 head at sales in Conway & Pocahontas. Compared with last week, feeder steers sold steady to firm .
| Steers: | ||||||
| Medium & Large Frame 1 | 400 | to | 450 lbs. | 120 | to | 130 |
| 500 | to | 550 lbs. | 109 | to | 119 | |
| 600 | to | 700 lbs. | 106.50 | to | 114 | |
| Medium & Large Frame 2 | 400 | to | 450 lbs. | 109 | to | 119 |
| Heifers: | ||||||
| Medium & Large Frame 1 | 400 | to | 450 lbs. | 108 | to | 118 |
| Medium & Large Frame 2 | 400 | to | 450 lbs. | 98 | to | 108 |
Slaughter Cows, Boners 47 to 52
Light Weight 33 to 38
Bulls, Yield Grade 1 1000 to 2100 lbs. 60 to 66, high dressing not tested
Midwest Steers were $1-$3.50 lower at 92 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: | Oct | down | 57 | at | 9705 |
| Dec | down | 50 | at | 10055 | |
| Feeders: | Oct | up | 15 | at | 11890 |
| Jan | down | 5 | at | 11695 |
Cattle Comment
Cattle futures were mostly lower on speculative profit taking and hedge selling. Deferred contracts are being supported by reduced placements, that will mean fewer market ready cattle this winter. The December live contract has resistance at this mornings high of $101.45.
Peoria: were steady at 39.5 to 40
| Chicago Futures: | Oct | down | 117 | at | 6590 |
| Dec | down | 145 | at | 6795 |
Sheep
St. Paul sheep shorn slaughter lambs at n/a to - - -
Hogs Comment
Hog futures ended lower on weaker cash hog prices and ideas that product prices will fall under burdensome supplies. The market is anticipating a big slaughter rate through the last quarter of the year, and that will limit the upside.
Poultry Date: September 05, 2007
Eggs
| New York: | Ex. Lg. 131-135; Lg. 129-133; Med. 92-96; |
| Chicago: | Ex. Lg. 121-129; Lg. 119-127; Med. 86-94; |
Eastern Region Turkeys
| Hens: | 8-16 lbs. | 90-93 |
| Toms: | 16-24 lbs. | 90-93 |
Delmarva Broilers
U.S. Grade A
Trade sentiment was steady in the West and East, but barely steady to weak in the Midwest. Supplies of all sizes were sufficient to at least adequate for trade needs. In production areas, live supplies were moderate at weights in a full range. The Composite Weighted Average price for 09/03/07 was 80.56 compared to 79.75 a week earlier, and 69.32 a year ago.
----------------------------------------
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/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 2007
Arkansas Farm Bureau, Inc.
All rights reserved
