07/03/2008 Farm Bureau Market Report

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Grain & Soybean Date: July 03, 2008 Due to the Fourth of July Holiday, the Farm Bureau Market report will resume on Monday, July 9. Soybeans Local Elevators: (July) EAST AR:  1592 to - - - (NC) Summ. 1513 to 1539 River Elevators: (July) MISS: 1581 to 1617 ; AR & White 1609 to 1615 (NC) Summ. 1523 to 1551 Ark. Processor Bids: (NC) 1533 to 1538  (- - -) - - - to - - - Memphis:  (July) 1644 to - - - (NC)  1556 to - - - Riceland Foods:  (NC) Stuttgart - - - ; Pendleton - - - ; West Memphis - - - Chicago Futures: Aug up 9 1/2 at  1649   Sept  up  5 1/4  at  1637 1/4   Nov up 1  at  1631   Jan 09 up 1 1/2  at  1644 3/4   Nov 09 up 17  at  1554 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans ended the day higher. Concern about tightening stocks and development of this year’s crop provided underlying support. Firm crude oil and a weaker dollar were also contributing factors. Upside objectives are $16.50 to $17. Corn was a bit lower on pre-holiday profit taking after yesterday’s sharp gains. Wheat Cash bid for July at Memphis  673 1/2 to 682 1/2; Bids to farmers at Local Elevators 635-643; River Elevators 621-668; Chicago Futures: Sept up  7 1/4  at  887 1/2    Dec up 6 3/4  at  910 1/4    March 09 up  7  at  931 1/2    May 09 up  7 1/4  at  944 1/2    July 09 up  5 1/4  at  949 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for July at Memphis  1138 to 1146; Bids to farmers at River Elevators 1109-1175; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for July at Memphis   717 3/4 to 722 3/4;   New Crop at Memphis   697 3/4 to - - -; Bids to farmers at River Elevators  692 to 707 Chicago Futures: Sept down  3 1/4  at  757 3/4    Dec down  3 1/2  at  777    March 09 down  3 3/4  at  794    Dec 09 down  3  at  697 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures posted gains again today, showing surprising strength in the face of harvest pressure. Wheat appears to be overpriced based on extremely wide basis levels that are quoted. September wheat will need outside influence to keep from declining toward recent support near $7.50. Cotton & Rice  Date: July 03, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 6 at  6420   Greenwood down  6 at 6420 New York Futures: Oct down  6  at  7220    Dec up  6  at  7535    March 09 up  4  at  8077    May 09 up  12  at  8243    July 09 up  17  at  8363  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton traded in a relatively wide range before closing near unchanged. This week’s larger than anticipated planted acreage report coupled with slow export movement has triggered the down turn. The ending stocks figure, currently at 10.3 million bales, will likely increase more in the July supply demand report. In some quarters, a 10.7 million bales stocks figure is being mentioned. Penetration of support at 77 cents suggests the market is headed toward previous lows near 71 cents- or perhaps even lower. Dr. Carl Anderson suggests the market may need to trade between 65 and 69 cents on the futures market in order to entice export buying and help reduce stocks. Rice Long Grain Cash Bid for  - - - - - -  to  - - -   - - - - - -  to  - - - Chicago Futures: Sept down  26  at  1854    Nov down  21  at  1879    Jan 09 down  21  at  1909    March 09 down  21  at  1939    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice ended mostly lower. Light trading again characterized the market as overall activity is expected to be limited going into the holiday weekend and perhaps longer as we move toward harvest. International markets are continuing to work lower on limited trade. That will likely be the situation for the near term. Look for market activities to remain mostly sideways into and through harvest, with stronger bids later in the year. Cattle & Hogs  Date: July 03, 2008 Cattle As reported by Federal-State Market News, receipts were - - - head at sales in - - -.  Compared with last week, feeder steers - - - . Steers:  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - - Heifers:  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - - Slaughter Cows, Boners - - -   to   - - - Light Weight - - - to - - - Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - - Midwest Steers   were $4 higher   at   101   to   - - - Panhandle Steers   were $4 higher   at   101   to   - - - Oklahoma City Feeders Steers - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - - Heifers - - - to - - - lbs. - -- to - - -   - - - to - -- lbs. -- - to - - - Chicago Futures: Live Cattle: Aug down 20 at 10380   Dec up 7 at 11450 Feeders: Aug down 57 at 11157   Oct down 25 at 11505 Cattle Comment Cattle futures were mostly lower. October live cattle futures are consolidating between $111 and $113. Beef cutout values are sharply higher and along with strong packer margins should help boost the live market following the long holiday weekend. Hogs Peoria: were 50¢ to $3     lower   at   42   to   44 Chicago Futures: Aug down 35 at 7095   Oct down 20 at 6945 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs ended mixed as traders evened positions ahead of the long holiday weekend. Recent price action leaves open the possibility that August will test the contract low of $69.45. Weaker wholesale prices and last week’s bearish report are now driving the market. Poultry  Date: July 03, 2008 Eggs New York:  Ex. Lg. 122-126; Lg. 120-124; Med. 95-99; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 91-99; Eastern Region Turkeys Hens: 8-16 lbs. 91-93 Toms: 16-24 lbs. 91-93   Delmarva Broilers U.S. Grade A Trade sentiment was fully steady to firm. Demand was fair to good, best for retail and where increased interest is expected for the holiday. Supplies of all sizes were close balanced to short to satisfy trade needs. Processing plants were mixed with some plants down Friday for the July 4th holiday. In productions areas, live supplies were moderate. Weights 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

Bi-Weekly Market Briefings for 07/03/2008

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ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER Bi-Weekly Market Briefings for 07-03-2008 -------------------------------------------------------------------------- http://www.arfb.com COTTON has lost ground despite smaller-than-expected planted acres. The USDA places ’08 plantings at 9.25 million acres, which is above expectations but below March intentions. Plantings are 15 percent below last year and down 6 million acres from just two years ago. The USDA didn’t forecast harvested acres — but the general belief is that abandonment in Texas will be huge. This year’s crop can be less than 14 million bales. On the other hand, the next Supply-Demand Report may raise ending stocks from the expected 10.3 million-bale June level. Recent prices haven’t been conducive to strong movement, and the market may have to go even lower, perhaps below the recent 71.65-cent December low. Penetration of support at 77 cents suggests a test of that area. U.S. RICE plantings have exceeded intentions, with total ’08 plantings up 125,000 acres from March intentions. Surprisingly, it wasn’t in Arkansas, where, our 1.35 million-acre plantings were actually 20,000 below March’s. California also planted fewer acres, while Louisiana was up 70,000. Mississippi, Texas and Missouri each surpassed March intentions by 30,000 acres. In Arkansas, short-grain plantings dropped 30,000 acres, while long grain gained 10,000. U.S. long-grain acres were 2.25 million overall, up 180,000 from expectations. Medium and short grain totaled just 645,000 acres, down about 53,000 from March intentions. Production should be near 200 million hundredweight for ’08. Coupled with tight ending stocks, available supplies still will be limited for the ’08–09 marketing year. Futures reacted to the report by raising the 50-cent limit. September Futures should retest resistance at $20. Next resistance is about $21.25; major support starts near $18. SOYBEAN plantings, at 74.5 million acres, are 250,000 acres from farmer intentions in March. With still-tight supplies and weather complications, beans got a boost. After working lower at one point, they closed higher, with November touching the prior $15.77 contract high. Slight improvement in the Weekly Crop Progress Report may momentarily temper the upside as traders look to the holiday weekend. A higher close, though, may boost the market above $16. Good support starts at $14.75–$14.80. WHEAT has trailed corn lower, following the Planted Acreage Report, after last month’s puzzling surge higher. An extremely wide basis for soft red wheat suggests futures are out of sync with the export market. The Gulf basis remains $1.40–$1.55 below Chicago, with river terminals and country elevators at even wider levels up the marketing chain. Some are approaching $2.50 under. September Futures are testing support just below $8.60, which if penetrated may again move to the recent $7.47 low. Strong resistance is in place at $9.73. CORN plantings have exceeded expectation by 2 million acres, when most market projections put ’08 plantings at 85.5 million or less. However, after resurveying more than 1,200 farmers in the Midwest’s flooded areas, the USDA set plantings at 87.3 million acres. The USDA also raised its abandonment factor to almost 10 percent, then projected harvested acres at 78.9 million. Market response was quick, with futures dropping the 30-cent daily limit. This left a very negative looking two-day island reversal top on the December chart. Expect a $7.40 test of support. Beyond that, the market may move to $7.15, the top of a gap left when the market last surged upward. Key production estimates in July and August will set the tone as we keep moving down the road to harvest. The chart for HOG Futures looks ominous. August has failed to break through $79 resistance, and prices have been sharply lower for three straight days. Selling pressure has risen in reaction to the Inventory Report. The market hog supply is up 10.4 percent from ’07, and the spring pig crop 4 percent. This means more-than-ample supplies through fall. Demand has been quite strong, but maybe not enough to handle supply. August can be headed for a retest of the contract low of $69.45. Live CATTLE Futures are trying to consolidate below the recently-charted contract high. Cash trades at $99 or more have been supportive. However, news of much larger-than-anticipated hog supplies now weighs on the market; lots of cheaper pork will compete with beef on store shelves. Feeder Cattle have good news in the Corn Production Report. Planted acres are higher than expected; so, August Feeders have charted an upward reversal. Resistance begins at the recent $115 high. In TIMBER, South Arkansas pine pulpwood prices remain strong, $12–$14 a ton, as the depressed housing market and lumber glut continue to limit area sawmill production. North Arkansas pine pulpwood prices are much less at $4–$6 a ton, but still above historical levels. Pine sawtimber prices are weak in both regions — $35–$38 a ton in the South and $30–$33 in the North. South Arkansas hardwood pulp prices are significantly weaker in the last eight months, from a $14-a-ton November high to $7–$9 currently. Prices in the North similarly have slid, from $5 a ton in November to $3–$4 now. Hardwood sawtimber is much like pine: depressed prices at $27 a ton in South Arkansas and $18 in the north. This, then, is a good time to hold on to your timber. 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 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 (July 3); BP: Jer. 1; RBTTY: Acts 12; Job 25-27

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Wed, 2 Jul 2008 15:42:04 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (July 3); BP: Jer. 1; RBTTY: Acts 12; Job 25-27
 

July 3                                                                                                                                       “Be Not Afraid”

 

“Then said I, ‘Ah, Lord God!  Behold, I cannot speak—for I am a child.’  But, the Lord said unto me, ‘Say not, I am a child—for you shall go to all that I shall send you.  And whatsoever I command you, you shall speak.  Be not afraid of their faces—for I am with you to deliver you,’ says the Lord.”

                                                                                                                                                     Jeremiah 1:6-8

     In our inadequacy, we find His adequacy; in our insufficiency, we find His sufficient supply (Phil. 4:19).

     Excuses.

     How easily we give them, along with our objections, to the Lord when we know He’s calling us.  Like Moses, we stammer and stutter, reminding Him of our inability (Ex. 4:10) while forgetting that He simply asks for our availability.  Or, like Gideon, we point to our lack of resources or experience (Judg. 6:15), forgetting that He is omnipotent, omniscient and omnipresent.

 

     The Lord had just told Jeremiah “Before I formed you in the belly, I knew you—and before you came forth out of the womb I sanctified you and ordained you a prophet unto the nations” (v.5).  Simply put, He was reminding Jeremiah (and us) that long before we entered this world, He knew us and has a beautiful plan for our lives.

 

     The problem is we forget this and change the focus from Him—our Jehovah-Jireh (“The Lord God Who Supplies/Provides”)—to ourselves.  That’s why Jeremiah said, “Wait a minute, Lord!  I think we’ve got a problem here.  I can’t speak—for I’m a child.  Getting up in front of a crowd—especially a hostile one—is beyond me.  You know I get stage-fright and my knees knock when I have to get up in front of folks.  Besides, I’m too young.  You need someone older and more experienced.”

 

     No wonder He got mad at Moses when he said “I’m not eloquent and haven’t been from the time You’ve known me.  I’m slow of speech and get tongue-tied” (Ex. 4:10, 14).  He said, “You just don’t get it, do you dufus?  Who has made man’s mouth?  Have not I, the Lord?  Now, therefore, go and I will be with your mouth and teach you what you shall say” (vv.11-12).

 

     Oh, dear Pilgrim, how we grieve the Father’s Holy Heart when we focus on our inadequacies rather than His sufficiency.  How flimsy our excuses when offered to the One Who both formed us in our mother’s womb and has promised to “direct our paths” when we “trust in Him with all our heart and don’t rely on our own reasonings and resources” (Prov. 3:5-6).

 

     Just as He said to Moses (“I will be with your mouth”—Ex. 4:15) and to Jeremiah (“I am with you to deliver you”) so does He say to us:  “I will never leave you nor forsake you” (Heb. 13:5b).  As someone said, “Where He leads us, He will keep and equip us.”  So true, so true.  Therefore, we should proceed by faith, always assured that our sparrow-watching God knows us and our every need.  “Do not fear, Pilgrim”—that’s His message to us in these last days when everything around us is falling apart.

07/02/2008 Farm Bureau Market Report

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Grain & Soybean Date: July 02, 2008 Soybeans Local Elevators: (July) EAST AR:  1569 to 1593 (NC) Summ. 1512 to 1538 River Elevators: (July) MISS: 1566 to 1628 ; AR & White 1563 to 1605 (NC) Summ. 1502 to 1550 Ark. Processor Bids: (July) 1584 to - - -  (NC) 1532 to 1537 Memphis:  (July) 1634 1/2 to - - - (NC)  1550 to 1555 Riceland Foods:  (NC) Stuttgart 1537 ; Pendleton 1538 ; West Memphis 1555 Chicago Futures: Aug up 16 1/2 at  1639 1/2   Sept  up  17  at  1632   Nov up 20  at  1630   Jan '09 up 19  at  1643 1/4   Nov 09 up 22 1/2  at  1537 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans continued to push higher after a brief downturn in early trading. Concern about tightening stocks and development of this year’s crop provided underlying support. Firm crude oil and a weaker dollar were also contributing factors. Upside objectives are $16.50 to $17. Corn rebounded from losses on Monday and Tuesday to close almost limit higher. Wheat Cash bid for July at Memphis  666 1/4 to 668 1/4; Bids to farmers at Local Elevators 627-635; River Elevators 610-660; Chicago Futures: Sept up  15 1/2  at  880 1/4    Dec up 15 1/2  at  903 1/2    March 09 up  14 3/4  at  924 1/2    May 09 up  14 3/4  at  937 1/4    July 09 up  14 1/2  at  944 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for July at Memphis  1144 to 1153; Bids to farmers at River Elevators 1114-1180; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for July at Memphis   721 to 726;   New crop at Memphis   701 to - - -; Bids to farmers at River Elevators  695 to 710 Chicago Futures: Sept up  28 3/4  at  791    Dec up  28 1/2  at  780 1/2    March 09 up  29  at  797 3/4    Dec 09 up  27 1/2  at  700 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures gapped higher following strength in corn. Wheat appears to be overpriced based on extremely wide basis levels that are quoted. September wheat will need outside influence to keep from declining toward recent support near $7.50. Cotton & Rice  Date: July 02, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 95 at  6426   Greenwood down  95 at 6426 New York Futures: Oct down  95  at  7226    Dec down  104  at  7529    March 09 down  98  at  8073    May 09 down  81  at  8231    July 09 down  76  at  8346  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton was lower again as the market continued to decline after Monday’s report and penetration of prior support. This week’s larger than anticipated planted acreage report coupled with slow export movement has triggered the down turn. The ending stocks figure, currently at 10.3 million bales, will likely increase more in the July supply demand report. In some quarters, a 10.7 million bales stocks figure is being mentioned. Penetration of support at 77 cents suggests the market is headed toward previous lows near 71 cents- or perhaps even lower. Dr. Carl Anderson suggests the market may need to trade between 65 and 69 cents on the futures market in order to entice export buying and help reduce stocks. Rice Long Grain Cash Bid for  July 1975/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Sept unchanged  0  at  1880    Nov unchanged  0  at  1900    Jan 09 unchanged  0  at  1930    March 09 unchanged  0  at  1960    - - - unchanged  - - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was unchanged in all except the expiring July contract. Light trading again characterized the market as overall activity is expected to be limited going into the holiday weekend and perhaps longer as we move toward harvest. International markets are continuing to work lower on limited trade. That will likely be the situation for the near term. Look for market activities to remain mostly sideways into and through harvest, with stronger bids later in the year. Cattle & Hogs  Date: July 02, 2008 Cattle As reported by Federal-State Market News, receipts were 894 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers sold firm to $3 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 111.26 to - - -   500 to 550 lbs. 106.61 to - - -   600 to 650 lbs. 104.04 to - - -  Medium & Large Frame 2   400 to 450 lbs. 100.58 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 96.03 to - - -  Medium & Large Frame 2   400 to 450 lbs. 91.36 to - - - Slaughter Cows, Boners 53   to   60 Light Weight 36 to 42 Bulls, Yield Grade   1   1000   to   2100 lbs.   65   to   72 Midwest Steers   were   at   97   to   - - - Panhandle Steers   were   at   97   to   - - - Oklahoma City Feeders Steers 550 to 600 lbs. 118 to 119   600 to 650 lbs. 114.75 to 115 Heifers 500 to 515 lbs. 107.5 to 113   600 to 650 lbs. 109 to 110 Chicago Futures: Live Cattle: Aug up 67 at 10400   Dec up 100 at 11442 Feeders: Aug down 2 at 11215   Oct steady at 11530 Cattle Comment Cattle futures were mixed again today, with live futures higher. October live cattle futures are consolidating between $111 and $113. Beef cutout values are sharply higher and along with strong packer margins should help boost the live market following the long holiday weekend. Feeders were under pressure from renewed strength in corn. Hogs Peoria: were     steady   at   44.5   to   45 Chicago Futures: Aug up 100 at 7130   Oct up 117 at 6965 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs turned higher on indications the market was oversold, but recent price action still leaves open the possibility that August will test the contract low of $69.45. Weaker wholesale prices and last week’s bearish report are now driving the market. Poultry  Date: July 02, 2008 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 95-99; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 91-99; Eastern Region Turkeys Hens: 8-16 lbs. 91-93 Toms: 16-24 lbs. 91-93   Delmarva Broilers U.S. Grade A Trade sentiment was at least fully steady. Demand was fair to good best where needs increased for the holiday. Supplies of all sizes were usually adequate to satisfy trade needs. Processing schedules for this week are mostly part time with most plants down Friday for the July 4th holiday. In production areas, live supplies were moderate. Weights 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 (July 2); BP: Jer. 1; RBTTY: Acts 11; Job 22-24

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Tue, 1 Jul 2008 16:56:54 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (July 2); BP: Jer. 1; RBTTY: Acts 11; Job 22-24
 

July 2                                                                                                                                        “He Knows Me”

 

“Then the Word of the Lord came unto me, saying ‘Before I formed you in the belly I knew you—and before you came forth out of the womb, I sanctified you and I ordained you a prophet unto the nations’.”

                                                                                                                                                     Jeremiah 1:4-5

     When we know Whose we are and who we are, we need not fear those who don’t.

     Jeremiah, whose name means “The Lord establishes,” lived during a time of upheaval during Judah’s history.  Born in the city of Anathoth—a city in the tribe of Benjamin given to the Levites—Jeremiah was called to be a heartbroken prophet with a heartbreaking message.  Although he labored for over 40 years proclaiming a message of doom to his stiff-necked countrymen, he still was faithful in his task, honoring and obeying the God of Abraham in all he said and did.

 

     Raised as the son of Hilkiah, the priest, two miles north of Jerusalem (v.1), this one—later known as “The Weeping Prophet”—no doubt received Godly instruction while growing up.   How important it is for parents to instruct their children in the “ways and Word of the Lord” at an early age (Prov. 22:6), for so doing will help insure they have a strong “foundation of faith” when they grow older and leave home.

 

     We’re not told how “the Word of the Lord came unto Jeremiah.”  Was it a vision?  Did an angel appear to him?  Did the Lord God whisper to him as he lay on his bed during the night-watches?   Again, we’re not told; however, it doesn’t really matter.  What matters is that God spoke and Jeremiah was listening.  And, may the same be said of us when our lives here on earth are through:  “Speak Lord—for your servant hears” (I Sam. 3:9).

 

     As we “chew the cud” on today’s Manna, it’s important to hear what the Lord was saying to Jeremiah:  “Before I formed you in the belly”—i.e., when you were being “knitted together in secret” (Ps. 139:15-16). . . “I knew you”—i.e., “I knew everything about you. . .what type of person you would be. . .where you’d go in life. . .what you’d do. . .the thoughts you would think. . .the words you’d speak”. . . “And before you came forth out of the womb I sanctified you and I ordained you a prophet unto the nations”—i.e., “I have a purpose and plan for your life.  Your life’s no accident or coincidence.  From the hairs on your head to the tears that you shed, I know you—and the plans I have for you.  Simply trust Me to lead and guide you through life.”

 

     Dear Pilgrim, isn’t this a wonderful thought?

     Even now, is not your heart warmed (and humbled) to know that the God of the universe knows you—individually and intimately—and yearns to transform your life into more than it could ever be on your own?  Glory!!

 

     The “secret” to experiencing this is knowing the Heavenly Father knows you and what’s best for your life.  Then, it’s a matter of surrendering your life to Him and allowing Him to use you as He sees fit.  This journey of faith will not be easy; but His grace is sufficient and will sustain you in everything you undertake in His Name.  Trust Him.

 

    

07/01/2008 Farm Bureau Market Report

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Grain & Soybean Date: July 01, 2008 Soybeans Local Elevators: (July) EAST AR:  1551 to 1575 (NC) Summ. 1492 to 1518 River Elevators: (July) MISS: 1548 to 1612 ; AR & White 1563 to 1589 (NC) Summ. 1502 to 1530 Ark. Processor Bids: (July) 1566 to - - -  (NC) 1512 to 1517 Memphis:  (July) 1608 to 1611 (NC)  1530 to - - - Riceland Foods:  (July) Stuttgart 1566 ; Pendleton 1575 ; West Memphis 1595 Chicago Futures: Aug up 25 at  1623   Sept  up  31  at  1615   Nov up 36  at  1610   Jan '09 up 35 3/4  at  1624 1/4   Nov '09 up 36  at  1515   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans continued to work higher, supported by tight stocks and forecasts of more rain in the Midwest this weekend. Gains in soybeans came slowly, but built late in the session boosting ’09 November above $15, while the first sight listed contracts closed above $16. The lateness of this year’s crop is adding to the upward momentum. There are no indicated chart objectives, but the market tends to trade toward the even dollar –so $17 is next on the horizon. Corn remained under pressure, of a larger than expected planted acreage. However, the market did stage a late rally to minimize today’s losses. December found support just below $7.40. Wheat Cash bid for July at Memphis  649 3/4 to 664 3/4; Bids to farmers at Local Elevators 612-624; River Elevators 599-645; Chicago Futures: Sept up  6  at  864 3/4    Dec up 6 1/4  at  888    Mar 09 up  6 3/4  at  909 3/4    May 09 up  7  at  922 1/2    July 09 up  7 3/4  at  929 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for July at Memphis  1093 to 1111; Bids to farmers at River Elevators 1111-1125; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for July at Memphis   692 1/4 to 700 1/4;   New crop at Memphis   672 1/4 to - - -; Bids to farmers at River Elevators  666 to 681 Chicago Futures: Sept down  5 1/2  at  732 1/4    Dec down  5  at  752    Mar 09 down  5  at  768 3/4    Dec 09 up  18  at  673    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat ended slightly higher after making a sold rebound in early trading. Wheat appears to be overpriced based on extremely wide basis levels that are quoted. September wheat will need outside influence to keep from declining toward recent support near $7.50. Cotton & Rice  Date: July 01, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 227 at  6521   Greenwood down  227 at 6521 New York Futures: Oct down  227  at  7321    Dec down  229  at  7633    March 09 down  234  at  8171    May 09 down  250  at  8312    July 09 down  258  at  8422  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton continued under the gun with a second consecutive day of big declines. Yesterday’s larger than anticipated planted acreage report coupled with slow export movement has triggered the down turn. The ending stocks figure, currently at 10.3 million bales, will likely increase more in the July supply demand report. In some quarters, a 10.7 million bales stocks figure is being mentioned. Penetration of support at 77 cents suggests the market is headed toward previous lows near 71 cents- or perhaps even lower. Dr. Carl Anderson suggests the market may need to trade between 65 and 69 cents on the futures market in order to entice export buying and help reduce stocks. Rice Long Grain Cash Bid for  July 1946/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Sept down  17  at  1880    Nov down  20  at  1900    Jan 09 down  20  at  7930    Mar 09 down  20  at  1960    - - - down  - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures reversed yesterday’s limit gain and moved down a like amount in early trading. However, the market grudgingly gave back some of the decline and cut losses by the close. Yesterdays report showed overall U.S. planted acreage up 125,000 acres from the March intentions. Arkansas and California’s planted acres was down slightly from intentions while Louisiana planted an additional 70,000 acres. Missouri, Mississippi and Texas were each up slightly from intentions while medium grain dropped 45,000 acres from intentions. A total of just under 2.9 million acres were planted to rice, that should give a crop of just over 200 million cwt. June stocks were a little tighter than expected and helped boost the market. Initial resistance for September futures remains near $20. Cattle & Hogs  Date: July 01, 2008 Cattle As reported by Federal-State Market News, receipts were 791 head at sales in Fort Smith and Marshall.  Compared with last week, feeder steers sold near steady on light pre-holiday test . Steers:  Medium & Large Frame 1   400 to 450 lbs. 111.78 to - - -   500 to 550 lbs. 109.59 to - - -   600 to 650 lbs. 104.44 to - - -  Medium & Large Frame 2   400 to 450 lbs. 108.08 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 96.08 to - - -  Medium & Large Frame 2   400 to 450 lbs. 94.69 to - - - Slaughter Cows, Boners 51.50   to   57.50 Light Weight 40 to 44 Bulls, Yield Grade   1   1000   to   2100 lbs.   64   to   - - - Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 550 to 600 lbs. 118 to 119   600 to 650 lbs. 114.75 to 115 Heifers 500 to 515 lbs. 107.5 to 113   600 to 650 lbs. 109 to 110 Chicago Futures: Live Cattle: Aug down 10 at 10332   Dec up 47 at 11342 Feeders: Aug up 30 at 11217   Oct up 62 at 11530 Cattle Comment Cattle futures closed mixed in a choppy trade. Weaker corn prices provided a measure of support, particularly in feeders. However, larger available supplies of fat cattle tempered cash bids. October live cattle futures are consolidating between $111 and $113. Beef cutout values are sharply higher and along with strong packer margins should help boost the live market following the long holiday weekend. Hogs Peoria: were 50¢ to $1.50     lower   at   44.5   to   45 Chicago Futures: Aug down 60 at 7030   Oct down 97 at 6847 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs could not hold an early rally and extended yesterday’s lows with the August contract now ready to test support at $69.45. Weaker wholesale prices and last week’s bearish report are now driving the market. Poultry  Date: July 01, 2008 Eggs New York:  Ex. Lg. 131-135; Lg. 129-133; Med. 98-102; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 91-99; Eastern Region Turkeys Hens: 8-16 lbs. 91-93 Toms: 16-24 lbs. 91-93   Delmarva Broilers U.S. Grade A Trade sentiment was at least steady. Demand was fair to moderate but slightly better to cover holiday and first of the month needs. Supplies of all sizes were adequate to close balanced to satisfy trade requirements. In production areas, live supplies were moderate. Weights 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