10/06/2008 Farm Bureau Market Report

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Grain & Soybean Date: October 06, 2008 Soybeans Local Elevators: (Oct) EAST AR:  825 to 851 (NC) Summ. 838 to - - - River Elevators: (Oct) MISS: 822 to 873 ; AR & White 811 to 837 (NC) Summ. 872 to 916 Ark. Processor Bids: (Oct) 851 to 860  (NC) 899 to 902 Memphis:  (Oct) 849 to 872 (NC)  n/a to - - - Riceland Foods:  (Oct) Stuttgart 851 ; Pendleton 851 ; West Memphis 873 Chicago Futures: Nov down 70 at  922   Jan 09  down  70  at  938 1/2   Mar 09 down 70  at  951 1/2   May 09 down 70  at  962 1/2   Nov 09 down 70  at  959 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Like all other commodities, soybeans were hit by a continued selloff prompted by the current economic situation. Unfortunately, commodities are taking it on the chin as index funds continue to hunt for a safe haven. What was a gift on the move higher is now a bitter pill to swallow. Market movement has little or nothing to do with supply demand although high prices cut use to the bone. November soybeans may fall to the next support at $9.15 on weekly charts, or perhaps the next level of $7.89. Wheat Cash bid for October at Memphis  365 1/4 to 380 1/4; Bids to farmers at Local Elevators 392-477; River Elevators 477-492; Chicago Futures: Dec down  45  at  595 1/4    Mar 09 down 45 3/4  at  616    May 09 down  46 1/2  at  629 3/4    July 09 down  46 3/4  at  642    Sept 09 down  47 1/4  at  658 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for October at Memphis  480 to 516; Bids to farmers at River Elevators 411-473; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for October at Memphis   351 to 374;   New crop at Memphis   409 to - - -; Bids to farmers at River Elevators  320 to 367 Chicago Futures: Dec down  30  at  424    Mar 09 down  30  at  442 1/2    May 09 down  30  at  454 3/4    Dec 09 down  30  at  481    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were sharply lower today in reaction to the meltdown on Wall Street and limit losses in other commodities. In the current climate, it is difficult to say how far these markets will fall. Also, wheat is dealing with bearish fundamentals. World production could set a new record this year, so supplies will be ample to meet demand and the price rationing seen last year is unlikely to be repeated. Cotton & Rice  Date: October 06, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 300 at  4916   Greenwood down  300 at 4916 New York Futures: Oct down  320  at  5241    Dec down  300  at  5441    Mar 09 down  300  at  5894    May 09 down  300  at  6080    Dec 09 down  300  at  6676  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton was off 300 points early in today’s session and ended the day there. The next major support is around 47 cents. The current economic situation leaves the cotton market very shaky. As indicated before cotton doesn’t fare very well in economic downturns. The wider spread this situation, the more pressure we will see on cotton. This year’s big carryover just adds to the immediate problem. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   - - - - - -  to  - - - Chicago Futures: Nov down  70 1/2  at  1764    Jan 09 down  71  at  1797 1/2    Mar 09 down  71  at  1829    May 09 down  71 1/2  at  1862    - - - unchanged  - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice reversed early gains to move the expanded limit lower at one point. Unfortunately, this may push November back down to retest recent support at $16.20. Again, this really has little to do with supply demand. Overall market conditions appear stable with mills working to fill prior sales. Haiti, Mexico and Central America remain a good market for U.S. rice. A 10,000 metric tonne sale to Iran was a welcome surprise, also unexpected considering the current spread between U.S. and Asian origin rice. Vietnam and Pakistan have rice available around $500 per metric tonne, while Thai rice is just under $700. U.S. milled rice remains at $800+. Cattle & Hogs  Date: October 06, 2008 Cattle As reported by Federal-State Market News, receipts were 2560 head at sales in Springdale, Ash Flat, and Ola.  Compared with last week, feeder steers were weak to $5 lower, instances $8 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 114.61 to - - -   500 to 550 lbs. 102.29 to - - -   600 to 650 lbs. 92.94 to - - -  Medium & Large Frame 2   400 to 450 lbs. 105.68 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 88.47 to - - -  Medium & Large Frame 2   400 to 450 lbs. 85.34 to - - - Slaughter Cows, Boners 44   to   50 Light Weight n/a to - - - Bulls, Yield Grade   1   1000   to   2100 lbs.   55   to   62 Midwest Steers   were steady to $2 higher   at   96   to   97 Panhandle Steers   were steady to $3 higher   at   96   to   98 Oklahoma City Feeders Steers 450 to 500 lbs. 107.50 to 114   500 to 575 lbs. 104.50 to 113 Heifers 400 to 500 lbs. 95 to 103   500 to 575 lbs. 90 to 95.75 Chicago Futures: Live Cattle: Dec down 300 at 9477   Feb down 300 at 9470 Feeders: Nov down 300 at 9780   Jan down 300 at 9740 Cattle Comment Cattle futures down the limit across the board. This market, as well, is under pressure from concerns that economic weakness will hurt demand for beef. Losses in crude oil have forced index funds to liquidate long positions. The next level of support on the weekly chart is just below $90. Hogs Peoria: were steady to 50¢     higher   at   44.5   to   - - - Chicago Futures: Dec down 105 at 5982   Feb down 177 at 6620 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs were also lower. Weaker corn prices are a negative for deferred hogs as herd liquidations are expected to slow. General economic concerns continue to weigh on the market, sparking concerns of weakening global demand for pork. Poultry  Date: October 06, 2008 Eggs New York:  Ex. Lg. 113-117; Lg. 111-115; Med. 99-103; Chicago:  Ex. Lg. 103-111; Lg. 101-109; Med. 91-99; Eastern Region Turkeys Hens: 8-16 lbs. 98-102 Toms: 16-24 lbs. 97-102   Delmarva Broilers U.S. Grade A Trade sentiment was about steady. Demand following the weekend was fair to moderate with trading usually limited to regular commitments. Supplies were sufficient to satisfy current 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

FWD: Morning Manna (Oct. 6); BP: Jer. 33; RBTTY: Phil. 2; Is. 26-27

 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Sun, 5 Oct 2008 04:41:59 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (Oct. 6); BP: Jer. 33; RBTTY: Phil. 2; Is. 26-27
 
October 6                                                                                                                                                       “I’ll Answer You”
 
“Thus says the Lord, the Maker thereof, the Lord that formed it, to establish it—the Lord is His Name: ‘Call unto Me and I will answer you and show you great and mighty things, which you know not’.”
                                                                                                                                                                   & nbsp;                                             Jeremiah 33:2-3
     It’s not in the “sound and fury” that we experience Him; it’s in the quiet solitude of soul (I Kings 19:11-12).
     Busy, busy, busy.
     That’s the word that best describes our world today. Or, perhaps “exhausted” would better capture where we are. Exhausted in body. Weary in mind. Drained in emotions. Depleted in soul.
 
     So many “demands” on us by others.
     Or, could it be they’re more self-imposed than we think?
     Unrealistic expectations. Too much time trying to appease or please others. Impossible deadlines to meet, creating artificial crises that ultimately won’t matter and will soon be forgotten.
 
      Does that describe you, Pilgrim?
     If so, “Call unto the Lord.”
     Stop what you’re doing right now and “Call unto Him.”
 

     At first, silence may be all you hear. It’s been so long since you’ve “been still” (Ps. 46:10) that you’ve forgotten how to do it. Your mind’s still racing, going over your “to do” list with its 1,000 things still to accomplish; or, the “noises in your heart” (guilt, fear, shame, etc.) are so loud they drown out everything else.
 
     Even so, get alone somewhere with God—even if it means getting in a literal closet and “closing the door” (Mt. 6:6). Then, “Call unto the Lord.” And, He’s promised to “answer you.”
     Yes, “you.” Imperfect “you.” Stammering, stumbling, bumbling “you.” The one with warts and “never quite seeming to get it right” you. The one who’s “always falling short” or “missing the mark” you. The one who’s “made a million promises to God, but always seeming to not follow through” you.
 
     “Call unto Him.”
     To which He says, “And I will answer you.”
     And, then He adds, “And I will show you things about which you haven’t a clue. Great things. Mighty things. Maybe not in the world’s estimation. But those things which are precious to Me. Pull up a chair and sit a while. I’m here.”
Oh, dear Pilgrim, why not call on Him right now? He’s wants so badly to love on you this morning and remind you just how much you mean to Him. So, stop what you’re doing right now and cry out to Him. He’ll answer.
 

FWD: Morning Manna (Oct. 4); BP: Jer. 32; RBTTY: Eph. 6; Is. 20-22

We had very nice trip to Waco Tx, left Thurs AM, got home Sat PM.  We pulled off a very nice retirement surprise party for my Good Friend Hampton Fox, Education Liaison for state of TX for many years. 

My urologist appt is AM Mon.  God Bless  
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Fri, 3 Oct 2008 20:28:17 -0500
To: <pressingon@hotmail.com>
Subject: Morning Manna (Oct. 4); BP: Jer. 32; RBTTY: Eph. 6; Is. 20-22
 

October 4                                                                                                             “One Heart and One Way”

 

“And I will give them one heart and one way, that they may fear Me forever, for the good of them and of their children after them.  And I will make an everlasting covenant with them, that I will not turn away from them, to do them good; but I will put My fear in their hearts, that they shall not depart from Me.”

                                                                                                                                            Jeremiah 32:39-40

     When we’re “one” with Him, we’ll soon find ourselves humming, “Trust and obey, for there’s no other way, to be happy in Jesus, than to trust and obey.”

     Diversity.

     That’s the watchword of our present generation.  Inherent within this catchall phrase are also the words “tolerance” and “pluralism,” which basically adopt an “anything goes” mentality—even in the realm of spiritual matters.

 

     Simply put, this approach says “My belief’s just as good/valid as yours.  And, don’t you know we’re all headed for the same place and simply taking different routes to get there?”

     While this open-minded position sounds good and very accepting, it flies right in the face of today’s Manna and so many other Scriptures found in God’s Holy Word.  That’s why many religions have their own bibles. . .espouse their own way of salvation. . .reject absolutes as being narrow-minded or close-minded. . .and teach their followers to disdain (and even persecute) those who disagree with them.

 

     So much for tolerance.

     But, oh, dear Pilgrim, if we truly believe the Bible is the inspired, unchanging Word of God, then we must also hold fast to Jesus words of “I am the Way, the Truth and the Life—and no one comes unto the Father, but by/through Me” (Jn. 14:6).  Truly, if there are multiple paths to Heaven, then Jesus’ teachings, life, death and resurrection are all suspect and He essentially was but one of many good teachers in history.

 

     Do not fall for that lie of the devil.

     The path to hell is paved with men’s philosophies and teachings of open-minded acceptance of others’ teachings, regardless of what they say.  Only those who come to God HIS way can rest assured that they’ll be standing when all others have fallen by the wayside (Is. 40:7-8).

 

     That’s why He told the people of Judah (and us) that “He will be our God and we shall be His People” (Jer. 32:38) and “will give us one heart and one way.”  Whose heart is this “one heart”?  His heart.  Whose way is this “one way”?  His way.  And, this can only happen when we “fear (Heb. ‘yare’—‘reverent awe of, etc.’) Him forever.”

 

     As He “puts His fear in our hearts,” we realize His is an “everlasting Covenant and He will not turn away from us as He seeks to do good in our lives.”  Consequently, it will be this love-relationship with Him that will keep us from “departing from Him.”  No longer will we feel like playing the prodigal and try to find satisfaction elsewhere; instead, we will stay close to the heart of our First Love—knowing He is everything we need and more.  Glory!!

Glory!!

10/03/2008 Farm Bureau Market Report

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Grain & Soybean Date: October 03, 2008 Soybeans Local Elevators: (Oct) EAST AR:  902 to 931 (NC) Summ. 908 to - - - River Elevators: (Oct) MISS: 892 to 952 ; AR & White 901 to 921 (NC) Summ. 942 to 986 Ark. Processor Bids: (Oct) 926 to 931  (NC) 967 to 969 Memphis:  (Oct) 947 to 951 (NC)  n/a to - - - Riceland Foods:  (Oct) Stuttgart n/a ; Pendleton n/a ; West Memphis n/a Chicago Futures: Nov down 12 at  992   Jan '09  down  12 1/4  at  1008 1/2   Mar '09 down 14 1/4  at  1021 1/2   May '09 down 14 1/2  at  1032 1/2   Nov '09 down 15 1/2  at  1029 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans failed to hold early gains and slipped to the negative side after the House voted to pass the bailout bill. This almost appears to be a “buy the rumor”, “sell the fact” type move. The financial crisis has spread across the world and there is concern that sales will decline. Some shipments are awaiting credit approval and that could become more common place. November below $10 puts the market within 40 cents of the 62% retracement objective of $9.59. Wheat Cash bid for October at Memphis  418 1/4 to 435 1/4; Bids to farmers at Local Elevators 424-439; River Elevators 524-539; Chicago Futures: Dec up  4 1/4  at  640 1/4    Mar '09 up 4  at  661 3/4    May '09 up  4 1/2  at  676 1/4    Jul '09 up  4 1/2  at  688 3/4    Sep '09 up  1 1/4  at  705 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for October at Memphis  570 to 582; Bids to farmers at River Elevators 500-563; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for October at Memphis   404 to 406;   new crop at Memphis   439 to 444; Bids to farmers at River Elevators  370 to 397 Chicago Futures: Dec unchanged    at  454    Mar '09 down  1/2  at  472 1/2    May '09 up  1/4  at  484 3/4    Dec '09 up  1 1/2  at  511    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures ended a bit higher on indications the market was extremely oversold and the recent declines were overdone. Wheat does, however, have some bearish fundamentals to deal with. World production could set a new record this year, so supplies will be ample to meet demand and the price rationing seen last year is unlikely to be repeated. Cotton & Rice  Date: October 03, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 97 at  5216   Greenwood down  97 at 5216 New York Futures: Oct down  108  at  5561    Dec down  103  at  5741    Mar '09 down  101  at  6194    May '09 down  95  at  6380    Dec '09 down  99  at  6976  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton also failed to hold early gains with December again closing below 58 cents. The current economic situation leaves the cotton market very shaky. As indicated before cotton doesn’t fare very well in economic downturns. The wider spread this situation, the more pressure we will see on cotton. This year’s big carryover just adds to the immediate problem. December needs to hold above long term support at 57 cents. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: Nov up  50  at  1834 1/2    Jan '09 up  50  at  1868 1/2    Mar '09 up  50  at  1900    May '09 up  50  at  1933 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice made a solid limit gain move as the market reversed after 5 days of declines. Overall market conditions appear stable with mills working to fill prior sales. Haiti, Mexico and Central America remain a good market for U.S. rice. A 10,000 metric tonne sale to Iran was a welcome surprise, also unexpected considering the current spread between U.S. and Asian origin rice. Vietnam and Pakistan have rice available around $500 per metric tonne, while Thai rice is just under $700. U.S. milled rice remains at $800+. November futures appear to have strong support just under $18 with resistance just above $20. Cattle & Hogs  Date: October 03, 2008 Cattle As reported by Federal-State Market News, receipts were 9,695 head at sales in Arkansas this week.  Compared with last week, feeder steers sold $2-7 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 110.72 to - - -   500 to 550 lbs. 104.03 to - - -   600 to 650 lbs. 90.40 to - - -  Medium & Large Frame 2   400 to 450 lbs. 102 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 94.64 to - - -  Medium & Large Frame 2   400 to 450 lbs. 86.66 to - - - Slaughter Cows, Boners 42.50   to   48 Light Weight 31 to 33 Bulls, Yield Grade   1   1000   to   2100 lbs.   54   to   59.50, high dressing 60-64.50 Midwest Steers   were $1 lower   at   95   to   96 Panhandle Steers   were $1 lower   at   95   to   96 Oklahoma City Feeders Steers 500 to 550 lbs. 102 to 124   600 to 650 lbs. 94 to 114.25 Heifers 500 to 550 lbs. 80 to 109.50   600 to 650 lbs. 88 to 108.25 Chicago Futures: Live Cattle: Dec down 30 at 9777   Feb down 10 at 9770 Feeders: Nov up 20 at 10080   Jan up 30 at 10040 Cattle Comment Cattle futures were mixed. This market, as well, is under pressure from concerns that economic weakness will hurt demand for beef. Weaker wholesale beef prices are underscoring those concerns this week. Hogs Peoria: were $1     lower   at   44   to   44.5 Chicago Futures: Dec down 52 at 6087   Feb down 22 at 6797 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were also mixed. Weaker corn prices are a negative for deferred hogs as herd liquidations are expected to slow. General economic concerns continue to weigh on the market, sparking concerns of weakening global demand for pork. Poultry  Date: October 03, 2008 Eggs New York:  Ex. Lg. 113-117; Lg. 111-115; Med. 99-103; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 88-96; Eastern Region Turkeys Hens: 8-16 lbs. 98-102 Toms: 16-24 lbs. 97-102   Delmarva Broilers U.S. Grade A Trade sentiment was about steady. Demand entering the weekend was no better than fair with interest not meeting expectations for first of the month. Supplies were more than sufficient to satisfy current 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

Bi-Weekly Market Briefings for 10/03/2008

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ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER Bi-Weekly Market Briefings for 10-03-2008 -------------------------------------------------------------------------- http://www.arfb.com Hurricane damage is costing Arkansas farmers. Over the past few weeks, we have seen the damaging effects of the late-season rains on Arkansas grain. In addition to the large amounts of grain on the ground, many crops that had matured just before the rains came have begun to sprout on the head or in the ear. This has caused some producers to face large discounts when they’ve delivered their grains. Reportedly, a few elevators even have stopped accepting grain sorghum because of various quality issues. Corn stocks are up 25 percent from 2007 levels. The hope has been that the September Stocks Report would have offered much-needed bullish news and support prices. However, it did not. Corn stocks were reported at 1.642 billion bushels, well above the average trade estimate of 1.576 billion. The reason for the higher-than-expected stocks was weaker-than-expected feed use in the fourth quarter. Although these stocks still are historically low, they show that demand for corn and other products are weakening. If this slowdown continues, our stocks may rise again next year, given that this year’s crop is the second largest on record. Soybean prices are hit hard by the new Stocks Report. The most recent report provides bearish fundamental news that goes along with the crisis on Wall Street. Traders have expected soybean stocks at around 144 million bushels, but the report actually has shown 205 million. That’s more than 40 percent higher than expected. Again, weaker-than-expected feed demand is causing the higher stocks. About the only bullish news you can find in the soybean market is the Crop Progress Report, which continues to lag well behind the five-year average development. However, the most recent weather conditions have really helped crops across the country. It is unlikely prices will find much support in the short term. However, if we look a little farther out into this winter, we have another battle brewing. Soybeans and corn will begin to fight for acreage, and that should benefit prices. Wheat prices still are weakening and continuing their downward trend. That’s largely because world wheat production is expected to set new records this year. December Wheat Futures have slipped from a high of $12.84 in March to less than $7 currently. Besides the declining prices, wheat’s basis remains at close to $2 under. Historically, $5 wheat would have had everyone excited about this fall. However, given the current input situation, there are few farmers excited about wheat this year. Cotton prices have set new contract lows. The combination of weakening global demand and this nation’s financial crisis has positioned cotton as one of the few commodities setting such lows. December ’08 cotton is continuing to test long-term support levels at 57 cents. As of this writing, however, it has yet to close below that amount. As for next year, December ’09 has fallen below 70 cents. Rice prices are following corn and soybeans lower. We are still waiting to see the USDA’s assessment of the crop damage from the hurricanes. When we get it, the news likely will provide some much-needed support for prices, given the reports we have seen recently. Rice prices continue to trade between $18.30 and $19.69. Cattle prices are on the decline, — and it’s a bad time to sell. Despite large exports in August, Live Cattle prices are still falling. Prices are below $100 a hundredweight for the first time in a couple months. That’s a significant sign that now is not an opportune time to be selling cattle. With cattle inventories in the United States shrinking, cattle prices are likely to rebound in the coming months. Currently, however, they are experiencing the spill-over effect of the nation’s financial market woes. In Dairy, the October Class I price will be $15.53, according to the USDA’s recent announcement of advanced prices and pricing factors. That price is $2.12 less than the September Class I price of $17.65. It also is $6.06 less than a year ago, when the Class I price was $21.59. According to the USDA’s monthly Milk Production Report released Sept. 18, milk produced in the 23 major dairy states totals 14.5 billion pounds for August. That’s up 1.5 percent from a year earlier. Production per cow averages 1,717 pounds during the month, two pounds less than in August 2007. Analysts also have revised July’s milk production to 14.8 billion pounds, 1.8 percent more than July 2007. This revision represents an increase of 12 million pounds — or 0.1 percent — over August’s preliminary production estimate. 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

10/02/2008 Farm Bureau Market Report

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Grain & Soybean Date: October 02, 2008 Soybeans Local Elevators: (Oct) EAST AR:  914 to 943 (NC) Summ. 920 to - - - River Elevators: (Oct) MISS: 904 to 964 ; AR & White 923 to 943 (NC) Summ. 954 to 999 Ark. Processor Bids: (Oct) 938 to 943  (NC) 979 to 981 Memphis:  (Oct) 959 to - - - (NC)  n/a to - - - Riceland Foods:  (Oct) Stuttgart 943 ; Pendleton 943 ; West Memphis 964 Chicago Futures: Nov down 49 at  1004   Jan '09  down  49 3/4  at  1020 3/4   Mar '09 down 50 1/4  at  1035 3/4   May '09 down 50  at  1047   Nov '09 down 33 1/4  at  1045   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans have plummeted lower in today’s trade. The fundamentals haven’t changed much, but continued losses on Wall Street and in crude oil have forced the index funds out of the agriculture markets as well. Big losses have mounted as they have liquidated huge long positions. The weekly export report wasn’t particularly good for soybeans, coming in at an uninspiring 17.3 million bushels. Corn was also sharply lower, despite growing confidence that Congress will pass some sort of bailout bill. However, sharp losses on Wall Street and overall economic concerns continue to carryover into ag commodities. Wheat Cash bid for October at Memphis  411 to 431; Bids to farmers at Local Elevators 434-519; River Elevators 519-534; Chicago Futures: Dec down  33 3/4  at  636    Mar '09 down 34  at  657 3/4    May '09 down  34 1/2  at  671 3/4    Jul '09 down  35 1/2  at  684 1/2    Sep '09 down  31 1/2  at  704 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for October at Memphis  588 to 596; Bids to farmers at River Elevators n/a; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for October at Memphis   409 to - - -;   new crop at Memphis   438 to 443; Bids to farmers at River Elevators  397 to - - - Chicago Futures: Dec down  30  at  454    Mar '09 down  30  at  473    May '09 down  30  at  485    Dec '09 down  27 1/2  at  509 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were also sharply lower. Wheat does, however, have some bearish fundamentals to deal with. Statistics Canada said today that the crop in that country will be 27.27 million metric tons, up from their July estimate of 25.43 million. Cotton & Rice  Date: October 02, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 10 at  5319   Greenwood up  10 at 5319 New York Futures: Oct down  34  at  5625    Dec up  6  at  5840    Mar '09 up  5  at  6282    May '09 up  2  at  6475    Jul '09 down  7  at  6670  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton futures held their ground today, which is certainly more than we can say for most other commodities. December is trading back above 57 cents. This week’s spike low to 55.11 cents will provide support. This market continues to be weighed down by already slow demand and concerns that the weakening global economy will drive demand down even more. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: Nov down  49  at  1784 1/2    Jan '09 down  49  at  1818 1/2    Mar '09 down  49 1/2  at  1850    May '09 down  48  at  1883 1/2    n/a down  - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice posted near limit losses today and November shattered support at $18.30. This market, like many others, is under significant pressure as index funds liquidate long positions. General economic worries are having an impact as well. The next downside objective for November is the chart gap between $17.60 and $17.42 ½. Cattle & Hogs  Date: October 02, 2008 Cattle As reported by Federal-State Market News, receipts were 2,391 head at sales in Charlotte, Ratcliff and Green Forest.  Compared with last week, feeder steers sold mostly $2-5 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 106.92 to - - -   500 to 550 lbs. 102.20 to - - -   600 to 650 lbs. 102.61 to - - -  Medium & Large Frame 2   400 to 450 lbs. 108.42 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 93.32 to - - -  Medium & Large Frame 2   400 to 450 lbs. 87.96 to - - - Slaughter Cows, Boners 42   to   48 Light Weight 33 to 36 Bulls, Yield Grade   1-2   1000   to   2100 lbs.   56   to   63.50, high dressing untested Midwest Steers   remained   at   96   to   97 Panhandle Steers   were $2-1 lower   at   96   to   97 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: Dec down 240 at 9807   Feb down 282 at 9780 Feeders: Nov down 300 at 10060   Jan down 300 at 10070 Cattle Comment Cattle futures posted sharp, across the board losses. This market, as well, is under pressure from concerns that economic weakness will hurt demand for beef. Weaker wholesale beef prices are underscoring those concerns this week. Hogs Peoria: were     steady   at   45   to   45.5 Chicago Futures: Dec down 157 at 6140   Feb down 215 at 6820 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were also lower. Weaker corn prices are a negative for deferred hogs as herd liquidations are expected to slow. General economic concerns continue to weigh on the market, sparking concerns of weakening global demand for pork. Poultry  Date: October 02, 2008 Eggs New York:  Ex. Lg. 113-117; Lg. 111-115; Med. 99-103; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 88-96; Eastern Region Turkeys Hens: 8-16 lbs. 98-102 Toms: 16-24 lbs. 97-102   Delmarva Broilers U.S. Grade A Trade sentiment was about steady to barely steady. Demand approaching the weekend was light to fair with limited first of the month trading. Supplies of all sizes were at least adequate to satisfy current requirements. 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

10/01/2008 Farm Bureau Market Report

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Grain & Soybean Date: October 01, 2008 Soybeans Local Elevators: (Oct) EAST AR:  963 to 999 (NC) Summ. 969 to - - - River Elevators: (Oct) MISS: 953 to 1020 ; AR & White 972 to 992 (NC) Summ. 1004 to 1048 Ark. Processor Bids: (Oct) 991 to 1009  (NC) 1031 to - - - Memphis:  (Oct) 1008 to - - - (NC)  n/a to - - - Riceland Foods:  (Oct) Stuttgart 996 ; Pendleton 999 ; West Memphis 1020 Chicago Futures: Nov up 8 at  1053   Jan '09  up  8 1/4  at  1070 1/2   Mar '09 up 8 1/2  at  1086   May '09 up 7 1/4  at  1097   Nov '09 up 4 1/4  at  1078 1/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans ended higher on indications the market had become oversold this week. Soybeans took a hit yesterday when USDA released the Quarterly Stocks Report, which showed soybean stocks as of Sept 1 at 205 million bu. compared to the trade expectations of around 144 million, that’s more than 40% higher than was expected. So, the supply situation for soybeans isn’t as tight as we thought. Technically, November seems to have found support at $10.40. Any rebound will have to break through tough resistance at Monday’s big chart gap between $11.20 and $11.56. Corn posted losses today after early rebound attempts failed. USDA’s quarterly stocks report pegged stocks at 1.652 billion bu, well above the average trade estimate of 1.576. In addition to being above trade estimates, today’s stock number was 25% higher than year ago levels. While stocks are still relatively tight, we have more corn than we thought and the market is reacting to that mind set. Wheat Cash bid for October at Memphis  444 3/4 to 469 3/4; Bids to farmers at Local Elevators 470-555; River Elevators 555-570; Chicago Futures: Dec down  10 1/4  at  669 3/4    Mar '09 down 9 1/2  at  691 3/4    May '09 down  10  at  706 1/4    Jul '09 down  9 1/4  at  719 3/4    Sep '09 down  9 3/4  at  736    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for October at Memphis  641 to 650; Bids to farmers at River Elevators 589-670; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for October at Memphis   439 to - - -;   new crop at Memphis   467 to 472; Bids to farmers at River Elevators  425 to 449 Chicago Futures: Dec down  3 1/2  at  484    Mar '09 down  3 1/2  at  503    May '09 down  3 1/2  at  515    Dec '09 down  4 1/4  at  537    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures turned lower. The stocks report showed wheat stocks tighter than expected. However, gains will likely be limited as global wheat production is forecast to post new records in 2008/09. Cotton & Rice  Date: October 01, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis up 109 at  5309   Greenwood up  109 at 5309 New York Futures: Oct up  36  at  5586    Dec up  88  at  5813    Mar '09 up  82  at  6257    May '09 down  23  at  6350    Jul '09 up  92  at  6677  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton prices rebounded today as the market had become clearly oversold. December is trading back above 57 cents. Yesterday’s spike low to 55.11 cents will provide support. This market continues to be weighed down by already slow demand and concerns that the weakening global economy will drive demand down even more. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: Nov down  56  at  1833 1/2    Jan '09 down  55  at  1867 1/2    Mar '09 down  54  at  1899 1/2    May '09 down  52  at  1931 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice posted sharp losses again today, but November did hold at support at $18.30. The market has become oversold, like many other grains and oilseeds, and is due a corrective rebound. Initial resistance will be seen at the chart gaps between $19.20 and $19.38 and then $19.53 and $19.88. Cattle & Hogs  Date: October 01, 2008 Cattle As reported by Federal-State Market News, receipts were 1,280 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold $2-5 lower, heifers $1-3 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 112.81 to - - -   500 to 550 lbs. 95.28 to - - -   600 to 650 lbs. 91.15 to - - -  Medium & Large Frame 2   400 to 450 lbs. 89.05 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 91.99 to - - -  Medium & Large Frame 2   400 to 450 lbs. 82.56 to - - - Slaughter Cows, Boners 44   to   51 Light Weight 35 to 39 Bulls, Yield Grade   1   1000   to   2100 lbs.   53   to   63.50, high dressing not tested Midwest Steers   were steady to $1 lower   at   96   to   97 Panhandle Steers   were $2 lower   at   98   to   - - - Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Heifers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Dec up 10 at 10047   Feb down 10 at 10062 Feeders: Nov down 12 at 10360   Jan up 5 at 10370 Cattle Comment Cattle futures ended mixed as the market waits to see if the Senate will pass a bailout bill this week. Weaker wholesale beef prices continued to pressure the market as concerns about demand remain a focus. Hogs Peoria: were $1     lower   at   45   to   45.5 Chicago Futures: Dec down 122 at 6297   Feb down 30 at 7035 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were mixed today, weaker corn prices supported hogs as herd liquidations are expected to slow. October futures have support near $65.50. Poultry  Date: October 01, 2008 Eggs New York:  Ex. Lg. 111-115; Lg. 109-113; Med. 97-101; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 88-96; Eastern Region Turkeys Hens: 8-16 lbs. 98-102 Toms: 16-24 lbs. 97-102   Delmarva Broilers U.S. Grade A Trade sentiment was about steady to barely steady. Demand was no better than fair with trading usually limited to regular commitments. Supplies of all sizes were sufficient to satisfy current 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