06/16/2008 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: June 16, 2008 Soybeans Local Elevators: (Jun) EAST AR:  1457 to 1481 (NC) Summ. 1415 to 1447 River Elevators: (Jun) MISS: 1444 to 1501 ; AR & White 1469 to 1478 (NC) Summ. 1421 to 1455 Ark. Processor Bids: (Jun) 1472 to - - -  (NC) 1428 to 1445 Memphis:  (Jun) 1510 to - - - (NC)  1438 to 1443 Riceland Foods:  (Jun) Stuttgart 1472 ; Pendleton 1481 ; West Memphis 1501 Chicago Futures: Jul down 26 at  1534   Aug  down  22 1/4  at  1537 1/2   Sep down 14  at  1526   Nov down 8  at  1523   Nov '09 down 11 1/2  at  1471 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans moved higher early but lost steam and closed lower. Forecasts of rain and flooding across parts of the Midwest added fresh support to the markets but most of the impact could now be in the market. Reports indicate many acres of both beans and corn have been lost from this year’s crop. Already stressed, this puts potentially smaller yields and production under the gun. November beans remain above $15. Wheat Cash bid for new crop at Memphis  n/a to - - -; Bids to farmers at Local Elevators 643-651; River Elevators 629-667; Chicago Futures: Jul down  5 1/2  at  876 1/2    Sep down 5  at  894 1/2    Dec down  4  at  918    Mar '09 down  3  at  939    Jul '09 down  3  at  952    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for June at Memphis  1165 to 1183; Bids to farmers at River Elevators 1086-1148; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for June at Memphis   696 1/2 to 697 1/2;   new crop at Memphis   681 3/4 to 691 3/4; Bids to farmers at River Elevators  668 to 690 Chicago Futures: Jul up  3/4  at  732 1/2    Sep up  1  at  746 3/4    Dec unchanged    at  765    Dec '09 down  8 1/2  at  685    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were the upside leader today. Severe storms in Kansas have the market worried about crop damage in the largest wheat producing state in the U.S. A downward revision in the Australian crop was also a factor. Recent strength could attract further buying interest from the funds. Cotton & Rice  Date: June 16, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 299 at  6862   Greenwood up  299 at 6862 New York Futures: Jul up  299  at  7462    Dec up  275  at  8220    Mar '09 up  233  at  8754    May '09 up  260  at  8911    Jul '09 up  164  at  8925  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton began this week just like it ended last week with another strong gain. Up the limit at one point December broke resistance at 81 cents and appears set to move higher despite fundamentals that appear negative, at least at this point. While this year’s acreage will be down sharply there hardly seems to be much justification fundamentally for a big move in cotton. USDA adjusted U.S. exports for 07/08 which resulted in projected ending stocks rising above 10 million bales. World stocks are above 60 million bales and are above 50% of a year’s use. Rice Long Grain Cash Bid for  Jul 2066/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jul up  36  at  2066    Sep up  44  at  1948    Jan '09 up  46  at  1985    Mar '09 up  46  at  2015    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was higher again today with most contracts moving above recent consolidation areas. Last week’s supply demand report was not changed much from May, but it was a reminder that while world stocks will rise slightly, it is still a very tenuous situation that could still erupt later in the summer. Cattle & Hogs  Date: June 16, 2008 Cattle As reported by Federal-State Market News, receipts were 1,329 head at sales in Ola & Springdale.  Compared with last week, feeder steers sold mostly $2-5 lower, instances $6-8 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 117.79 to - - -   500 to 550 lbs. 109.28 to - - -   600 to 650 lbs. 105.80 to - - -  Medium & Large Frame 2   400 to 450 lbs. 105.90 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 106.90 to - - -  Medium & Large Frame 2   400 to 450 lbs. 98.37 to - - - Slaughter Cows, Boners 47   to   54 Light Weight 36 to 43 Bulls, Yield Grade   1   1000   to   2100 lbs.   63.50   to   69, high dressing 70-75.50 Midwest Steers   were quoted   at   91   to   93 Panhandle Steers   were quoted   at   92   to   93.75 Oklahoma City Feeders Steers 500 to 550 lbs. 121 to 122.75   600 to 675 lbs. 95 to 107.25 Heifers 600 to 700 lbs. 103 to 107.50   - - - to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Aug up 117 at 10345   Dec up 90 at 11237 Feeders: Aug up 50 at 10965   Oct up 30 at 11220 Cattle Comment Cattle futures continued to surge higher on ideas $7 plus corn will result in herd liquidation. The market is carrying a big premium to cash, so that could limit the upside. Hogs Peoria: were     steady   at   43.5   to   44 Chicago Futures: Aug down 72 at 7287   Oct up 7 at 7392 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs ended mixed with nearby contracts under pressure from cash market weakness. Deferreds were supported by ideas higher feed costs will result in herd liquidation. Poultry  Date: June 16, 2008 Eggs New York:  Ex. Lg. 128-132; Lg. 126-130; Med. 101-105; Chicago:  Ex. Lg. 117-125; Lg. 115-123; Med. 94-102; Eastern Region Turkeys Hens: 8-16 lbs. 91-92 Toms: 16-24 lbs. 91-92   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand was light to moderate with some improvements over the weekend. Supplies of all sizes were usually sufficient to satisfy trade needs. In production areas, live supplies were moderate. Weights were desirable to instances light, but 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 19); BP: Job 23; RBTTY: Acts 4:23-37; Neh. 12-13

 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Wed, 18 Jun 2008 19:59:20 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (June 19); BP: Job 23; RBTTY: Acts 4:23-37; Neh. 12-13
 

June 19                                                                                                                               “24-Karat Gold”

 

              “But He knows the way I take.  When He has tried me, I shall come forth as gold.”

                                                                                                                                                        Job 23:10

     The fires that purify may grow quite hot, but the end-result is always worth it.

     Gold.

     Of all the metals known to man, none is more precious.  Silver is good.  Titanium’s strong and shiny.  Brass glistens in the sun.  But, none of these can compare to gold—yea, 24-karat gold.  And, today’s testimony by Job is a brilliant one, especially when we consider all he’d been through to this point.

 

     As we know, gold mining is big business.  Nowadays there are many who buy elaborate equipment to go find a few nuggets here and there in streams out west.  Larger mining companies spend millions of dollars digging for gold, hoping to find the “mother lode.”

 

     But, all of the gold discovered—whether nuggets or ore—must pass through the fire before it becomes pure gold.  It is the intense heat that brings the dross to the top, transforming the impure gold into 24-karat gold.

 

     And, so it is with our “fiery trials.”

     Job was going through a difficult time.  Emotionally he was distraught.  Relationally he was in anguish.  Physically he was suffering.  Theologically he was perplexed.  But, inwardly, his faith was the only thing sustaining him. . .for he was confident the God of Abraham “knows the way I take.”  Simply put, God knew what he was going through—and he knew He knew that he’d always try to walk the “strait and narrow” even when he felt like giving up or was encouraged to “curse God and die” (Job 2:9).

 

     Likewise, somehow in the midst of it all, He knew God’s “grace would be sufficient” (II Cor. 12:9-10).  And, like Peter, he knew “the trial of his faith was more precious than gold that perishes though it be tried with fire” (I Pet. 1:7a) and trusted that he’d still be giving “praise, honor and glory to God” (I Pet. 1:7b) when it was all said and done.

 

     The Hebrew word “bachan” is used for “tried” and also means “to examine, investigate, put to the test, etc.”  Or, another way to put it is, “to find out what’s really there.”  Who of us would not want this to happen in our own lives, Pilgrim?  If we want concrete to be strong before it’s used as a foundation and steel to be tempered by fire before being put in a building or bridge bed, how much more so we should want faith that will emerge victorious when trials and tribulations come our way.

 

     Therefore, instead of fretting or fuming when things are going wrong or we keep running into dead-ends, we should say, “Thank you, Lord, for allowing this in my life.  I know You know what’s best for me.  You also know I love you and know You’ll always work everything together for good in my life.  And, thank You, Father, that when this time of testing is over that I shall come forth as gold—yea, fine, 24-karat gold.  For Your honor and glory I pray, in Jesus’ Name.  Amen.”

 

      

FWD: Morning Manna (June 13); BP: Job 9; RBTTY: Jn. 21; Ezra 6-8

 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Thu, 12 Jun 2008 18:41:02 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (June 13); BP: Job 9; RBTTY: Jn. 21; Ezra 6-8
 

June 13                                                                                                                           “The Peril of Pride”

 

“If I justify myself, my own mouth shall condemn me; if I say, ‘I am perfect,’ it shall also prove me perverse.”

                                                                                                                                                            Job 9:20

     Woe to anyone who feels justified in sitting “in the seat of the scornful” (Ps. 1:1c).

     Criticism and self-justification.

     These are two sides of the same coin and an inherent part of our sinful nature.  From birth we are self-centered, cynical (“sneering fault-finding), carnal sinners who are much quicker at pointing out others’ mistakes than we are at seeing our own.

 

     Although Eliphaz and Bildad had come to comfort Job in his grief (2:11-13), they soon demonstrated their lack of love for him by assuming the devil’s role as “the accuser of the brethren” (Rev. 12:9-10).  Much of what they had to say was true as far as an unchanging “truth;” however, they were applying it wholesale to Job from a “one size fits all” mindset.  Or, in other words, they were attempting to do surgery on him with a machete, not a scalpel.  And, in reality, God had not called them to speak to Job on His behalf (42:7).

 

     Oh, dear Pilgrim, how easy it is to think we speak for God when, in reality, we’re speaking from our own inflated egos.  How much damage has been done to others by those who wielded God’s, “sharper than a two-edged sword” Word (Heb. 4:12), in carnal and callused ways.

 

     That’s why we should always remember Oswald Chamber’s admonition of “God never gives the gift of discernment for criticism; it’s always for intercession.”  How true, how true. 

 

     Likewise, we should also always be careful to spending too much time defending or trying to justify ourselves—especially when others’ minds are made up.  The hardened heart cannot be softened by confrontation; neither can the stubborn will be subdued by debate.

 

     Only an active moving of the Holy Spirit. . .coupled with an humble mind and heart… can bring the changes the Lord God desires.  Job spent much time countering his “friends’” charges by reminding them of his past track record; however, even then he inwardly knew “his own mouth would condemn him and his lips would pronounce him guilty.”

 

     No wonder Job was “afraid of his sorrows” and knew he was still “guilty before God” (9:28).  He needed a fresh touch from the Lord.  And, so do we, Pilgrim.  So often we waver between two extremes:  Self-justification and self-condemnation—which, in reality are both forms of pride.  Self-exaltation is an affront to God, as is self-deprecation.  That’s why we can ill-afford to say, “Oh, I’m no saint” when excusing sinful behavior.  Instead, we should not rest until we become one, which can only happen by being born again by Jesus’ blood and sanctified daily by His Holy Spirit.

FWD: Morning Manna (June 17); BP: Job 19; RBTTY: Acts 3; Neh. 7-9

 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Mon, 16 Jun 2008 17:40:53 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (June 17); BP: Job 19; RBTTY: Acts 3; Neh. 7-9
 

June 17                                                                                                                    “The Shout of Victory”

 

“For I know that My Redeemer lives and that He shall stand at the latter day upon the earth.  And though after my skin worms destroy this body, yet in my flesh shall I see God—Whom I shall see for myself and my eyes shall behold and not another, though my reins be consumed within me.”

                                                                                                                                                    Job 19:25-27

     When we know this, there’ll always be a song and a shout even in the midst of suffering.

     Faith.

     It’s been called “the sure and steadfast Anchor of the Soul” that has two, unbreakable “chains” and three “hooks” (Heb. 6:17-20).  But, its strength in not rooted in “something”—i.e., theological truths; it’s rooted in Someone:  The Lord Jesus Christ.  Hallelujah!!

 

     Job and his friends knew nothing of “a place prepared” (Jn. 14:1-3) and “streets of gold” (Rev. 21:21).  They only knew that when you left this life you went to a place of shadows—a place called Sheol, where both good and evil persons dwelt in some type of almost meaningless existence.

 

     It certainly wasn’t a place to look forward to; but, at least, there you could at least be at rest (Job 3:13).  But, before getting there, you had to face Death, the “king of terrors” (18:14; I Cor. 15:26), who’d snatch you away, causing your “remembrance to perish from the earth as others soon forget all about you” (18:17).

 

     Thus, it’s interesting in the midst of his suffering and his “friends’” accusations. . . when Job felt like God was out to get him (19:6-13). . .his “family and friends had forgotten him” (vv.14-19). . .and he cried for pity from his friends (v.21). . .that he still uttered today’s Manna with calm assurance.

 

     Here, in the oldest book in the Bible—thousands of years before Jesus’ death, burial and resurrection—Job declared, “I know that my Redeemer lives and that He shall stand at the latter day upon the earth.  And, even though the worms shall devour my flesh in the grave, later on I’m going to see Him face-to-Face.”  Glory!!

 

     For Job, a “Redeemer” (Heb. “ga-al”) was one who freed one from difficulty, danger or bondage, usually by the payment of a ransom price.  He could buy back property (and even enslaved people) sold under duress (Lev. 25:23-32).  Likewise, he could also redeem property and firstborn livestock (Lev. 27:1-33; Ex. 21:28-30), in addition to serving as an “avenger of blood” by taking the life of one who’d murdered his relative (Num. 35:12-28).  Boaz was a type of “kinsman-redeemer” for Ruth (Ruth 3:13-4:10).

 

     But, none of these could compare to Jesus Christ as our Redeemer from “the curse of the Law, sin, death and the grave” (Gal. 3:10-13; Rom. 6:23; I Cor. 15:12-28, 35-58)!  One of these days this One with nail-scars in His Hands will come back for those who’ve trusted in Him.  What a glorious day that will be!!

FWD: Morning Manan (June 16); BP: Job 14; RBTTY: Acts 2:22-47; Neh. 4-6

We are safely home.  Good Trip.  I really enjoyed Shepherd of the Hills program Thurs night, good spiritual themes and program at end honoring military and veterans was awesome.  God Bless 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Sun, 15 Jun 2008 15:40:50 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manan (June 16); BP: Job 14; RBTTY: Acts 2:22-47; Neh. 4-6
 

June 16                                                                                                             “The Question of the Ages”

                                              “If a man die, shall he live again?”

                                                                                                                                                       Job 14:14a

     We really can’t live until we can answer this question with confidence.

     Death.

     It comes like a thief in the night.  Its presence is always felt, lurking there in the shadows like some unknown assailant, wondering when and how it will come.  We try to deny its presence and our appointment with it—but, inwardly we know that one day it will come knocking at our door. . .to place its icy fingers around our neck or that of a loved one. . .which leaves us frantic and fearful. . .always staying busy and keeping our minds occupied. . .and ultimately spending our wealth to save our health. . .yet knowing “It’s appointed unto man once to die—and after this the Judgment” (Heb. 9:27).

 

     Job’s theology (and that of his friends’) was limited.  Full-blown revelation of Who God is and what He has prepared didn’t arrive until Jesus came on the scene.  Thus, their theological “box” included “You live a good life, you’ll be blessed; you sin, you’ll suffer.”  Likewise, their view of the afterlife was limited to that of Sheol, the place of the shadowy existence of the dead, both good and evil.

 

     Thus, his question in today’s Manna is really more of the mournful musing of one who’s longing for more than what meets the eye.  In vv.1-2 he said, “Man that is born of woman is of few days and full of trouble.  He comes forth like a flower and is cut down; he flees also as a shadow and continues not.”

 

     He then ponders how a felled tree can still bring forth new life from what seems like a hopeless situation (vv.7-9).  No doubt he’d seen such a sight of tiny sprigs sprouting from the trunk or root-wad of a downed tree, where part of its roots were still sunk deeply into the earth.  If it could do that, why couldn’t it happen for man (vv.10-12).

 

     Interesting question, isn’t it, Pilgrim?

     Assuredly it is—and one with which we must grapple: 

     “If a man die—and he/she will—shall he live again?”

 

     Oh, dear Pilgrim, can you answer that question in your own life?  Can you say with confidence, “I know Whom I have believed and am persuaded that He is able to keep that which I’ve committed unto Him against that Day” (II Tim. 1:12)?  Are you resting in the calm assurance when you’re “absent from the body you’ll be present with the Lord” (II Cor. 5:8)?  Can you say with confidence, “I’m now ready to be offered. . .and when that time comes I’ll have fought a good fight, finished my course, kept the faith and there’s a crown of righteousness that awaits me” (II Tim. 4:6-8)?

 

     If so, praise the Lord; if not, shouldn’t you find out why?  Anyone who knows the Risen Lord in the new birth and has been pardoned by His blood should always be able to say, “Yes!  A thousand times yes!” if someone asks, “If a man die, shall he live again?” (cf. I Cor. 15:51-58).  May the Spirit give us an opportunity to do so today.

Gains in the Farm Bill, Organic Produce and Conservation, Sustainable Schoolyards and more

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	June 12, 2008 Welcome to the June edition of American Farmland Trust's monthly E-news, featuring the latest on farm and ranch land protection, environmentally responsible farming, planning for agriculture, local food and more. The Farm Bill Passes, What’s Next for Farm and Food Policy? Big gains for farmland protection in the new farm bill. Congress enacted the Food, Conservation and Energy Act of 2008 with significant gains for conservation programs and other improvements. The Farm and Ranch Lands Protection Program nearly doubled and conservation dollars will be better leveraged to protect the environment and keep our water clean. Additionally, real progress in government support programs was made with the inclusion of the Average Crop Revenue Election (ACRE) program, billed by some as the base for future reform. We didn’t achieve as much reform nor secure as much funding as we set out to do. But we've come a long way. However, there’s still more to do on this farm bill to secure the gains we've made through the rulemaking and appropriations process. We'll also continue to move the goals of our farm and food policy agenda forward through efforts on climate change, water quality, local foods, transportation and other related legislation. 100 Types of Organic Vegetables on 400 Responsibly Managed Acres Nash Huber, American Farmland Trust's 2008 Steward of the Land, grows organic food year-round in the Dungeness River Valley on Washington's Olympic Peninsula, where his farm, certified "salmon safe," sells directly to the public at Nash's Farm Store, local restaurants, farmers' markets and through a CSA.  He is the first farmer in Washington state and the first organic vegetable farmer to receive the prestigious $10,000 award, which recognizes leadership in protecting agricultural land, local food and the environment. Nash has worked with conservation organizations in his community to save hundreds of acres of local farmland and leases much of his acreage from neighbors who have conservation easements on their land to guarantee that food will always grow there.  Sustainable Schoolyards Point the Way to Local Food and Farms Schoolyards across the country are being transformed into outdoor learning environments to help teach children about healthy living and sustainable communities. At the U.S. Botanic Garden's new One Planet - Ours! exhibit, a model Sustainable Schoolyard demonstrates the connectivity and multiple benefits of ecological design, renewable energy systems, environmentally responsible water systems and healthy food grown on nearby local farms. The exhibit, which is free to the public and open until mid-October, includes features that are already present in schools and can be easily replicated. Visit the Sustainable Schoolyard this summer and see how edibles such as corn, beans and berries made their way from the farm to a new kind of schoolyard!   Good things Come in Threes? Try a Threefold Approach to Improving Water Quality From the Puget Sound to the Chesapeake Bay, when looking below the surface to where a major river meets the sea you find a common problem: Americans are overloading our waterways with polluting nutrients. To clean up our water, we need to reduce nutrients at their sources: farmland runoff of fertilizers and manure, overburdened municipal sewage systems, and the great American lawn where fertilizers drain into the waterways. How you can help: Learn how Pennsylvania, Maryland, and Virginia are leading the national effort for change. Encourage farmers to adopt Best Management Practices. Take tips from a farmer by using sustainable landscaping techniques. Around the Country New York farmers urged the state to pass a Healthy Foods Act.  Bartow County, Georgia, is the first county in the nation to address the environmental impact of public and private activities with an Environmental Management System.  In California, Fresno County is considering a series of overlapping planning and policy initiatives that will have a sweeping impact on its ability to remain the nation’s leading agricultural county.  Iowa passed bill SF-587 providing income tax credits for conservation easements.   A new law in Hawaii allows farmers to receive tax credit in 2008 for donating land for conservation easements. The USDA Natural Resource Conservation Service announced $5 million in conservation innovation grants for organizations working directly with farmers to protect water quality in the Chesapeake Bay Watershed.
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06/11/2008 Farm Bureau Market Report

Click here to view this report online.

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