06/11/2008 Farm Bureau Market Report

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Grain & Soybean Date: June 11, 2008 Soybeans Local Elevators: (Jun) EAST AR:  1440 to 1464 (NC) Summ. 1401 to 1433 River Elevators: (Jun) MISS: 1417 to 1491 ; AR & White 1452 to 1468 (NC) Summ. 1393 to 1441 Ark. Processor Bids: (Jun) 1455 to - - -  (NC) 1416 to 1431 Memphis:  (Jun) 1492 1/2 to - - - (NC)  1424 to 1429 Riceland Foods:  (Jun) Stuttgart 1455 ; Pendleton 1464 ; West Memphis 1484 Chicago Futures: Jul up 70 at  1516 1/2   Aug  up  70  at  1519 1/4   Sep up 70  at  1513 1/2   Nov up 68  at  1509   Nov '09 up 51  at  1467   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Yesterday’s report was a precursor to today’s move in corn and soybeans. More rain simply added to the bullish undertone which pushed corn to across the board limit gains. While soybeans only had a couple of old crop contracts to go limit up, gains were substantial in all other contracts. November made a new contract high and settled well above $15. Rain across the upper Midwest will hamper efforts to plant or replant, while reducing yield potential on that emerged. USDA’s big cut of corn yields let the market know in no uncertain terms that production for corn and probably beans will be tighter than thought. While there remains upside potential producers should be looking for topping activity, if not sooner by early July. Wheat Cash bid for new crop at Memphis  n/a to - - -; Bids to farmers at Local Elevators 635-643; River Elevators 626-664; Chicago Futures: Jul up  60  at  869    Sep up 60  at  885 1/2    Dec up  60  at  909    Mar '09 up  60  at  931    Jul '09 up  60  at  950    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for June at Memphis  1131 to - - -; Bids to farmers at River Elevators 1050-1111; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for June at Memphis   668 1/4 to 673 1/4;   new crop at Memphis   656 3/4 to 661 3/4; Bids to farmers at River Elevators  638 to 670 Chicago Futures: Jul up  30  at  703 1/4    Sep up  30  at  716 3/4    Dec up  30  at  732 3/4    Dec '09 up  30  at  685 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was up the limit across the board today, mostly following corn. Rain is delaying the winter wheat harvest in areas like Kansas, and that is also a supportive factor. The upside will be limited, however, by harvest pressure. Cotton & Rice  Date: June 11, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 300 at  6325   Greenwood up  300 at 6325 New York Futures: Jul up  300  at  6925    Dec up  267  at  7708    Mar '09 up  225  at  8253    May '09 up  260  at  8450    Jul '09 up  274  at  8600  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton rode the wave of higher grains with anticipation of a big export report of the first week of June adding bullish sentiment. Perhaps bullish is incorrect and we should just say positive sentiment. While there were no major changes in yesterday’s report - a smaller world crop and lower world stocks did provide the back drop for today’s move. December’s move above 77 cents left the market just short of overhead trendline resistance, but did move the market above flat resistance just below 77. A close above the trendline would leave resistance near 81 cents as the next level. Current support starts at 74 cents. Rice Long Grain Cash Bid for  Jul 1993/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jul up  51  at  1993    Sep down  14  at  1876    Jan '09 down  10  at  1915    Mar '09 down  5  at  1950    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was left out of today’s big moves and ended the session mostly lower. Yesterday’s report indicated a 500,000 cwt increase in ending stocks and a like increase is in imports was offset by a 1 million cwt increase in exports. That left overall stocks at 17.2 million cwt, while shifting 500,000 cwt from medium to long grain. World production remained above projected use and left a slight increase in world stocks. However, the reality of the situation is unchanged with tight available stocks still supporting international values. It will take some time for the situation to work itself out and there remains potential for price fireworks later in the year. For now new crop futures have support around $18 and resistance around $19. Cattle & Hogs  Date: June 11, 2008 Cattle As reported by Federal-State Market News, receipts were 1,176 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold $3-5 lower, instances $6-8 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 109.90 to - - -   500 to 550 lbs. 103.42 to - - -   600 to 650 lbs. 100.96 to - - -  Medium & Large Frame 2   400 to 450 lbs. n/a to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 98.40 to - - -  Medium & Large Frame 2   400 to 450 lbs. 92.50 to - - - Slaughter Cows, Boners 50   to   57 Light Weight 36 to 41 Bulls, Yield Grade   1   1000   to   2100 lbs.   63   to   70, high dressing 72-73.50 Midwest Steers   were $1 higher to steady   at   93   to   - - - Panhandle Steers   were $1-.50 higher   at   93.50   to   - - - Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - - -   600 to 650 lbs. 108 to 115.25 Heifers 550 to 600 lbs. 104 to 110   600 to 650 lbs. 103 to 109.75 Chicago Futures: Live Cattle: Aug up 122 at 10085   Dec up 172 at 11055 Feeders: Aug down 215 at 10882   Oct down 175 at 11105 Cattle Comment August live cattle set a new contract high during today’s extremely wide trading range. Carryover strength from other markets was supportive, but cash market weakness kept a lid on prices. Feeders were under pressure from limit-up corn. Hogs Peoria: were steady to $1     higher   at   44.5   to   45 Chicago Futures: Aug steady at 7460   Oct up 50 at 7362 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were mostly higher. Weak cash market fundamentals pushed the market lower in early dealing, but fund buying sparked by strength in other markets turned the market around. August has support around $74. Poultry  Date: June 11, 2008 Eggs New York:  Ex. Lg. 123-127; Lg. 121-125; Med. 101-105; Chicago:  Ex. Lg. 107-115; Lg. 105-113; Med. 92-100; Eastern Region Turkeys Hens: 8-16 lbs. 90-92 Toms: 16-24 lbs. 90-92   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Supplies of all sizes were sufficient to satisfy trade needs. In production areas, live supplies were mostly moderate. Weights were mostly desirable but trending lighter in some areas due to extreme heat. ---------------------------------------- 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 2008 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

Farm Bill Wraps Up, AFT's Work on Farm Policy Continues

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	June 11, 2008 Dear Agriculture, The new 2008 Farm Bill increases funding for working lands conservation programs and supports fresh and local foods. On May 22nd, Congress enacted the Food, Conservation and Energy Act of 2008. After a Presidential veto, the House of Representatives voted 316-108 and the Senate voted 82-13 to overwhelmingly pass the 2008 Farm Bill. A glitch in the process left the trade title temporarily out of the bill, but both chambers have re-voted on it and we expect the title will be fully incorporated into the farm bill by the end of this month. This latest glitch seems endemic of the rollercoaster ride that the 2008 Farm Bill debate has taken. When American Farmland Trust started this farm bill journey in 2005, we set out to create a better, more cost-effective safety net for producers, while expanding programs to strengthen conservation and land protection, advance rural prosperity and create greater access to local and healthy food for consumers. In short, we set out to create a new direction for farm and food policy in the United States: one that better meets the needs of all Americans. Changing course among entrenched farm policy interests is never an easy task. Comparing where we are now to where we were when we started, we have achieved a lot. The breadth of public discourse and increasing awareness about farm and food policy issues cannot be underestimated and is one of the primary successes from this farm bill process. The progress and success of the 2008 Farm Bill can be measured in two ways: Additional funding, improved effectiveness and the creation of new programs to address important priorities; and, The unprecedented involvement and cooperation among previously disengaged stakeholder groups. The political landscape and the public debate have been changed forever.  Your participation and involvement has helped to elevate the importance of farm and food policy. Thank you for your tireless efforts and continued support of American Farmland Trust through this long farm bill process. While we may not have fully achieved all our goals, and frustration over subsidies remains, we will continue to work for change in the next farm bill and through other legislation. Overall we remain optimistic that we can build on the achievements of this bill in the future to create even more effective and lasting reforms. Our gains in working lands conservation funding and a better government safety net with the ACRE program are just two examples of steps in the right direction.   But our work on the farm bill is not finished. While the legislation lays out what ought to happen, turning the promises into reality still lies ahead. The focus now shifts to developing rules and securing the funds promised in the bill. As we saw with the conservation programs through the life of 2002 Farm Bill, often Congress cuts critical programs during the appropriation process. Without strong advocacy, we risk losing the gains we’ve made. We’ll continue to keep you updated on how to weigh in on the process and stay involved with the farm bill.   We also begin to shift our focus to new areas to advance our goals for better farm and food policies. Opportunities to build on the momentum from the farm bill will arise in upcoming climate change, water quality, crop insurance, transportation and child nutrition legislation. Our regular U.S. Farm Policy Update newsletter will also evolve, and you can expect to continue to receive periodic updates and action alerts on our efforts to protect farmland, advance local food systems and help farmers curb climate change and improve water quality. Thank you once again for your continued engagement and support. As we step into this next phase of farm and food policy, American Farmland Trust is committed to keeping the United States on course for an equitable, strong, and vibrant farm and food future. Sincerely, Jimmy Daukas Farm and Food Policy Campaign Director American Farmland Trust
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06/10/2008 Farm Bureau Market Report

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Grain & Soybean Date: June 10, 2008 Soybeans Local Elevators: (Jun) EAST AR:  1370 to 1394 (NC) Summ. 1333 to 1365 River Elevators: (Jun) MISS: 1347 to 1416 ; AR & White 1382 to 1393 (NC) Summ. 1325 to 1373 Ark. Processor Bids: (Jun) 1385 to - - -  (NC) 1348 to 1363 Memphis:  (Jun) 1422 1/2 to - - - (NC)  1356 to 1361 Riceland Foods:  (Jun) Stuttgart 1385 ; Pendleton 1394 ; West Memphis 1414 Chicago Futures: Jul down 5 1/2 at  1446 1/2   Aug  down  4 1/2  at  1449 1/4   Sep down 6 1/2  at  1443 1/2   Nov down 6  at  1441   Nov '09 unchanged   at  1416   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans traded up and down before settling slightly lower for the day. USDA raised 07/08 export projections by 20 million bushels and lowered ending stocks by the same amount. No changes were made in ’08 acreage or yield, this left 08/09 ending stocks at 175 million bushels. However, November futures failed to move to a new contract high and quickly lost ground, while corn boosted by significantly lower yield number closed above $7. USDA increased 07/08 ending stocks and reduced 08/09 usages to mitigate the impact of an 11.74 billion bushel crop. That was 390 million bushels below the initial May estimate. Look for corn to top by early July, while soybeans look for additional weather concerns for direction. Wheat Cash bid for new crop at Memphis  n/a to - - -; Bids to farmers at Local Elevators 575-583; River Elevators 566-604; Chicago Futures: Jul up  20 1/2  at  809    Sep up 20 1/2  at  825 1/2    Dec up  20 1/2  at  849    Mar '09 up  20 1/2  at  871    Jul '09 up  14 1/2  at  890    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for June at Memphis  1077 to 1095; Bids to farmers at River Elevators 996-1057; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for June at Memphis   638 1/4 to 643 1/4;   new crop at Memphis   626 3/4 to - - -; Bids to farmers at River Elevators  608 to 635 Chicago Futures: Jul up  16  at  673 1/4    Sep up  16 1/4  at  686 3/4    Dec up  17 1/2  at  702 3/4    Dec '09 up  10 1/4  at  655 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures ended higher. The market was prepared for a production estimate above 1.8 billion bushels, so today's report didn't cause much reaction. The weekly crop ratings were little changed from last week. Cotton & Rice  Date: June 10, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 25 at  6025   Greenwood up  25 at 6025 New York Futures: Jul up  68  at  6668    Dec up  24  at  7478    Mar '09 up  21  at  8052    May '09 up  7  at  8208    Jul '09 down  11  at  8330  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton closed mixed after being hit with yet another negative report. Exports were reduced 300,000 bales while ending stocks were boosted a like amount to 10.2 million bales. Use in 08/09 was increased 500,000 bales to offset the additional carryover and that kept the market from declining. World number indicated a 1.6 million bale drop in projected production, justifying the increase in U.S. exports. Upside potential remains limited with resistance at 77 cents and support at 71.65 cents. Rice Long Grain Cash Bid for  Jul 1942/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jul down  50  at  1942    Sep down  35  at  1840    Jan '09 down  30  at  1875    Mar '09 down  35  at  1900    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice after trading sharply lower in limited trade closed slightly higher as U.S. numbers were virtually unchanged. A 500,000 cwt increase in ending stocks and a like increase is in imports was offset by a 1 million cwt increase in exports. That left overall stocks at 17.2 million cwt, while shifting 500,000 cwt from medium to long grain. World production remained above projected use and left a slight increase in world stocks. However, the reality of the situation is unchanged with tight available stocks still supporting international values. It will take some time for the situation to work itself out and there remains potential for price fireworks later in the year. For now new crop futures have support around $18 and resistance around $19. Cattle & Hogs  Date: June 10, 2008 Cattle As reported by Federal-State Market News, receipts were 1,300 head at sales in Fort Smith & Marshall.  Compared with last week, feeder steers sold mostly $2-4 lower. Feeder heifers sold mostly $1 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 119.34 to - - -   500 to 550 lbs. 109.13 to - - -   600 to 650 lbs. 106.35 to - - -  Medium & Large Frame 2   400 to 450 lbs. 102.13 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 104.39 to - - -  Medium & Large Frame 2   400 to 450 lbs. 95.67 to - - - Slaughter Cows, Boners 52   to   57 Light Weight 40 to 42 Bulls, Yield Grade   1   1000   to   2100 lbs.   63   to   68.75 Midwest Steers   were $1-$1.50 higher   at   92   to   93 Panhandle Steers   were $2 lower   at   92   to   93 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: Aug up 65 at 9962   Dec up 22 at 10882 Feeders: Aug up 30 at 11097   Oct up 42 at 11230 Cattle Comment The USDA report was clearly bearish for livestock. Deferred cattle contracts, however, hold a wide premium to cash on expectations for fewer placements this summer. Hogs Peoria: were     steady   at   45.5   to   46 Chicago Futures: Aug down 15 at 7460   Oct down 80 at 7312 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures are also under pressure from higher feed costs. Supplies are also at record high levels, and that will limit upside potential as well. Poultry  Date: June 10, 2008 Eggs New York:  Ex. Lg. 120-124; Lg. 118-122; Med. 101-105; Chicago:  Ex. Lg. 107-115; Lg. 105-113; Med. 92-100; Eastern Region Turkeys Hens: 8-16 lbs. 90-92 Toms: 16-24 lbs. 90-92   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Supplies of all sizes were usually sufficient to satisfy trade needs. In production areas, live supplies were moderate. Weights varied but were mostly desirable. ---------------------------------------- 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 2008 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

FWD: Morning Manna (June 10); BP: Job 5; RBTTY: Jn. 19:1-22; II Chron.

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Mon, 9 Jun 2008 19:32:03 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (June 10); BP: Job 5; RBTTY: Jn. 19:1-22; II Chron.
 

June 10                                                                                                                        “As Sparks Fly Upward”

                            “Yet man is born unto trouble, as the sparks fly upward.”

                                                                                                                                                                   Job 5:7

     Although our sojourn here is brief at best, the Lord can use us for His glory and others’ good if we’ll but let Him.

     Anyone who’s ever been camping knows how “delicious” the campfire is at night.  There’s something about getting the kindling together and seeing those sparks slowly ignite the tinder.  And, before long it’s an idyllic evening as you sit around the fire. . . spinning a few yarns. . .having a few laughs. . .and look upward into the evening sky at the stars gleaming like sparkling diamonds on a black velvet background.

 

     If this description is making you yearn for a campfire, good—for, in many ways, our communion in Heaven with the Risen Lord will be somewhat like that.  Even now, your heart is probably aching to finally be at Home where the “Great No Mores” (Rev. 21:1-4) will be more than a dream or pining of soul.

 

     But, we’re not Home yet, Pilgrim.

     We still must live in this ‘ole sinful world and still must seek to be usable, effective “salt-and-light vessels, fit for the Master’s use” (Mt. 5:13, 16; 2:20-23); otherwise, our living here will have been in vain even as Judas’, the “son of perdition/waste” (Jn. 17:12), life was.

 

     Yes, our life here on earth will also be “full of trouble, as the sparks fly upward.”  Ours is a “vapory experience” (James 4:14), where one moment we’re here and the next we’re gone.  The key to victory is ensuring that our lives are lived for Christ between the time of our birth and departure.

 

     That’s why today’s Manna is a sobering reminder to live under His Lordship.  As the wood in the campfire cracks and pops—and occasionally a log will fall over like a tree being felled in the forest—a whole barrage of sparks will fly upward.  Pensively, we watch them as they drift upwards, sometimes going a long distance before disappearing.

 

     As they emerge from the flames, they are red-hot embers with the potential to burn down the whole forest given the right conditions.  However, their sojourn is short-lived and soon extinguished.

 

     And, so it is with our lives. 

     It’s wrong to live in worry or dread of tomorrow—for “sufficient are our troubles for today” (Mt. 6:34).  Likewise, none of us have any assurance that we’ll even be here tomorrow. . .or even later today (Prov. 27:1; James 4:13-15).  That’s why it’s imperative for us to “number our days that we might apply our hearts unto wisdom” (Ps. 90:12).  And, since we don’t know the total number of days we’ll be here, it means to live today as if it were our last, yet to enjoy it like it’d last forever.  May the Holy Spirit help us today to “redeem the time” (Eph. 5:16; Col. 4:5) by “seeking first the Kingdom of God and His righteousness” (Mt. 6:33).

 

06/09/2008 Farm Bureau Market Report

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Grain & Soybean Date: June 09, 2008 Soybeans Local Elevators: (Jun) EAST AR:  1375 to 1382 (NC) Summ. 1339 to 1371 River Elevators: (Jun) MISS: 1352 to 1421 ; AR & White 1387 to 1399 (NC) Summ. 1331 to 1379 Ark. Processor Bids: (Jun) 1390 to - - -  (NC) 1354 to 1369 Memphis:  (Jun) 1428 to - - - (NC)  1367 to - - - Riceland Foods:  (Jun) Stuttgart 1390 ; Pendleton 1399 ; West Memphis 1419 Chicago Futures: Jul down 5 1/2 at  1452   Aug  down  3 1/2  at  1453 3/4   Sep up 3 1/2  at  1450   Nov up 7 1/2  at  1447   Nov '09 up 11  at  1416   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Weekend rains boosted soybeans in early trading. November again tested resistance near the contract high, but lost momentum as the dollar made a strong rebound. Tomorrow’s supply demand report could have an increase in the export number, but acreage and yield won’t likely be adjusted until after the June 30 plantings report. For now resistance remains the $14.66 contract high for November. Support will start at last Thursday’s gap at $13.87. Wheat Cash bid for new crop at Memphis  n/a to - - -; Bids to farmers at Local Elevators 560-573; River Elevators 545-584; Chicago Futures: Jul down  22 1/2  at  788 1/2    Sep down 22 1/4  at  805    Dec down  21 3/4  at  828 1/2    Mar '09 down  22 3/4  at  850 1/2    Jul '09 down  20 1/4  at  875 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for June at Memphis  1049 to 1067; Bids to farmers at River Elevators 968-1029; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for June at Memphis   622 1/4 to - - -;   new crop at Memphis   610 1/2 to - - -; Bids to farmers at River Elevators  592 to 619 Chicago Futures: Jul up  6 1/2  at  657 1/4    Sep up  6 3/4  at  670 1/2    Dec up  7 1/2  at  685 1/4    Dec '09 up  3  at  645 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment July wheat charted a bearish key reversal today. Recent gains were mostly an effort to follow corn and soybeans higher, not a reflection of any fundamental factors for wheat. Tomorrow’s report is expected to show a bump in the production estimate. The average trade guess is over 1.8 billion bushels, which could push the carryover above 500 million bushels. Export sales remain flat as evidenced by the very wide basis being seen at the Gulf. That is currently $1.50 to $1.75 under July, which puts local basis levels near $2.00. Harvest pressure will keep levels extremely wide. Cotton & Rice  Date: June 09, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 23 at  6000   Greenwood up  23 at 6000 New York Futures: Jul down  64  at  6588    Dec down  56  at  7439    Mar '09 down  84  at  7985    May '09 down  54  at  8180    Jul '09 unchanged  59  at  8320  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton lost early momentum and closed lower for the day. Upside potential remains limited by big U.S. and world supplies. No major changes are anticipated in the supply demand report, although ending stocks could be adjusted a little higher. Overall fundamentals remain somewhat bearish. Resistance starts at 77 cents – with support at 74, then last week’s low of 71.65 cents. Rice Long Grain Cash Bid for  Jul 1192/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jul down  4  at  1992    Sep up  9  at  1875    Jan '09 up    at  1905    Mar '09 unchanged    at  1935    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice closed mixed with little change in the overall fundamental picture. Recent moves by Japan, Vietnam and India have help ease the immediate supply situation, thus allowing a more stable market the last several weeks. Milled rice appears to be stabilizing in the $800 to $900 range. U.S. offers have softened slightly but downside would appear to be limited long term. Technically, November futures should have support between $17.50 and $18.00, if not there, just under $16.50. Cattle & Hogs  Date: June 09, 2008 Cattle As reported by Federal-State Market News, receipts were 2,571 head at sales in Ash Flat, Ola & Springdale.  Compared with last week, feeder steers mostly steady, heifers weak to $3 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 119.14 to - - -   500 to 550 lbs. 118.32 to - - -   600 to 650 lbs. 110.63 to - - -  Medium & Large Frame 2   400 to 450 lbs. 119.99 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 106.59 to - - -  Medium & Large Frame 2   400 to 450 lbs. 119.99 to - - - Slaughter Cows, Boners 48   to   55 Light Weight 37 to 43 Bulls, Yield Grade   1   1000   to   2100 lbs.   64   to   69, high dressing 72-74 Midwest Steers   were quoted   at   93   to   94.50 Panhandle Steers   were quoted   at   90   to   95 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: Aug down 122 at 9897   Dec down 70 at 10860 Feeders: Aug down 157 at 11067   Oct down 190 at 11242 Cattle Comment Cattle futures were sharply lower, mostly in reaction to continued strength in corn. Seasonal cash market weakness is also a factor. August live cattle gapped lower and have initial support at $98.55. Hogs Peoria: were     steady   at   45.5   to   46 Chicago Futures: Aug down 197 at 7475   Oct down 137 at 7392 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were also sharply lower as higher soybean and corn values added pressure. Ample hog supplies are also a factor. August has initial support at $74. Poultry  Date: June 09, 2008 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 101-105; Chicago:  Ex. Lg. 100-109; Lg. 99-108; Med. 86-95; Eastern Region Turkeys Hens: 8-16 lbs. 90-92 Toms: 16-24 lbs. 90-92   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand following the weekend was fair to moderate. Supplies of all sizes were sufficient to satisfy trade needs. In production 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 2008 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

06/06/2008 Farm Bureau Market Report

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Grain & Soybean Date: June 06, 2008 Soybeans Local Elevators: (Jun) EAST AR:  1381 to 1405 (NC) Summ. 1332 to 1364 River Elevators: (Jun) MISS: 1358 to 1427 ; AR & White 1393 to 1404 (NC) Summ. 1328 to 1372 Ark. Processor Bids: (Jun) 1388 to 1396  (NC) 1360 to 1362 Memphis:  (Jun) 1422 1/2 to 1432 1/2 (NC)  1364 1/2 to 1368 1/2 Riceland Foods:  (Jun) Stuttgart 1396 ; Pendleton 1405 ; West Memphis 1425 Chicago Futures: Jul up 5 1/2 at  1457 1/2   Aug  up  3  at  1457 1/4   Sep up 8  at  1446 1/2   Nov up 7 1/2  at  1439 1/2   Nov '09 up 2  at  1405   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed higher again today, but well off the day’s highs. Huge gains in crude oil, a much weaker dollar and weather considerations prompted the third day in a row of big moves. For the week November was almost 90 cents higher with today’s high just 6 cents off the mid-March contract high. The current support is at$13.87, Wednesday’s high. Corn made a new contract high of $6.90 for December with more distant contracts moving above $7. While next week’s supply demand report is likely to incorporate a smaller acreage and declining yield prospects, it will be a major sign post. Wheat Cash bid for new crop at Memphis  n/a to - - -; Bids to farmers at Local Elevators 582-595; River Elevators 568-606; Chicago Futures: Jul up  25 1/2  at  811    Sep up 25 1/2  at  827 1/4    Dec up  25 3/4  at  850 1/4    Mar '09 up  26 1/4  at  873 1/4    Jul '09 up  25 3/4  at  895 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for June at Memphis  1037 to 1062; Bids to farmers at River Elevators 957-1018; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for June at Memphis   614 3/4 to 615 3/4;   new crop at Memphis   603 3/4 to 608 3/4; Bids to farmers at River Elevators  586 to 613 Chicago Futures: Jul up  7 1/2  at  650 3/4    Sep up  7 3/4  at  663 3/4    Dec up  7  at  677 3/4    Dec '09 up  13 1/2  at  648 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat gapped higher today. Concerns that recent storms have damaged unharvested wheat in Oklahoma and Kansas were supportive. July has resistance around $8.44. Export sales remain flat as evidenced by the very wide basis being seen at the Gulf. That is currently $1.50 to $1.75 under July, which puts local basis levels near $2.00. Harvest pressure will keep levels extremely wide. Cotton & Rice  Date: June 06, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 187 at  5977   Greenwood up  187 at 5977 New York Futures: Jul up  193  at  6658    Dec up  186  at  7487    Mar '09 up  183  at  8056    May '09 up  226  at  8285    Jul '09 up  300  at  8469  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton made a strong recovery today after bouncing off support earlier in the week. The market was heavily oversold and due a technical bounce. It would take a close above 75 cents to suggest further improvement. Big U.S. and world supplies and limited demand will keep the market under pressure. Prospects of a 10 million bale carryover in the U.S. points to potentially lower price levels, unless major problems are seen with this year’s crop. Rice Long Grain Cash Bid for  Jun 1996/cwt  to  - - -   Jul 1996/cwt  to  - - - Chicago Futures: Jul up  6  at  1996    Sep up  6 1/2  at  1866    Jan '09 up  13  at  1905    Mar '09 up  13  at  1935    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures extended yesterday’s gains ending the day higher. A weaker dollar and stronger crude oil provided support. On the international side reports suggest several factors are contributing to a less stressful supply situation. Japan is expected to release some stocks, Vietnam has indicated they will lift their export ban on July 1 and India is going to allow exports to some West African countries. This has allowed price levels to move a little lower. They now appear to be stabilizing in the $800 to $900 range. U.S. offers have softened slightly but downside would appear to be limited long term. Technically, November futures should have support between $17.50 and $18.00, if not there, just under $16.50. Cattle & Hogs  Date: June 06, 2008 Cattle As reported by Federal-State Market News, receipts were 10,895 head at sales in Arkansas this week.  Compared with last week, feeder steers somewhat uneven, generally steady . Steers:  Medium & Large Frame 1   400 to 450 lbs. 116.18 to - - -   500 to 550 lbs. 112.10 to - - -   600 to 650 lbs. 99.87 to - - -  Medium & Large Frame 2   400 to 450 lbs. 99.62 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 108.23 to - - -  Medium & Large Frame 2   400 to 450 lbs. 99.62 to - - - Slaughter Cows, Boners 50   to   57 Light Weight 35 to 43 Bulls, Yield Grade   1   1000   to   2100 lbs.   63   to   69, high dressing 69.50-72.50 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 115 to 130   600 to 650 lbs. 107.25 to 125.75 Heifers 500 to 550 lbs. 103 to 115.75   600 to 650 lbs. 97 to 113.50 Chicago Futures: Live Cattle: Aug down 80 at 10020   Dec up 52 at 10930 Feeders: Aug down 57 at 11225   Oct down 70 at 11432 Cattle Comment Cattle futures ended mixed. Feeders were under pressure from high corn prices, and nearby live contracts were under pressure from cash market weakness. The situation with South Korea is also still a concern. Hogs Peoria: were     steady   at   45.5   to   46 Chicago Futures: Aug down 40 at 7672   Oct up 65 at 7530 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were mostly lower as higher soybean and corn values added pressure. Ample hog supplies are also a factor. Poultry  Date: June 06, 2008 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 101-105; Chicago:  Ex. Lg. 97-105; Lg. 95-103; Med. 87-95; Eastern Region Turkeys Hens: 8-16 lbs. 90-92 Toms: 16-24 lbs. 90-92   Delmarva Broilers U.S. Grade A Trade sentiment was mostly steady. Demand was light to moderate with hopes of progress as the weekend approaches. Supplies of all sizes were at least adequate to handle trade needs. In production 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 2008 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use