01/09/2009 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 09, 2009 Soybeans Local Elevators: (Jan) EAST AR:  1026 to 1041 (NC) Summ. 940 to 970 River Elevators: (Jan) MISS: 1036 to 1056 ; AR & White 1011 to 1031 (NC) Summ. 939 to 970 Ark. Processor Bids: (Jan) 1027 to 1046  (NC) 945 to 970 Memphis:  (Jan) 1061 to - - - (NC)  959 1/2 to 964 1/2 Riceland Foods:  (Jan) Stuttgart 1046 ; Pendleton 1041 ; West Memphis 1056 Chicago Futures: Jan 09 up 48 1/2 at  1037 1/2   Mar 09  up  46 1/2  at  1036   May 09 up 45 1/2  at  1045 1/2   July 09 up 45 1/4  at  1056 1/4   Nov 09 up 28 1/2  at  1029 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans posted strong gains today. The weather forecast for Argentina has changed significantly in the past few days. Virtually all moisture has been taken out of the forecast and average temperatures are creeping higher. Combine that with the fact that the Brazilian Ag Ministry has trimmed projected production to below 58 million metric tones, and you have renewed optimism about demand for U.S. soy. The March close above $10.20 opens the possibility of another leg up for beans. Wheat Cash bid for January at Memphis  515 1/2 to - - -; Bids to farmers at Local Elevators 523-538; River Elevators 530-573; Chicago Futures: Mar 09 up  17  at  629 1/2    May 09 up 16 3/4  at  642 1/4    July 09 up  17  at  653 1/4    Sept 09 up  16 1/2  at  672 3/4    Dec 09 up  16 1/2  at  692 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  573 to 582; Bids to farmers at River Elevators 448-528; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   400 3/4 to 405 3/4;   New crop at Memphis   396 1/4 to 401 1/4; Bids to farmers at River Elevators  374 to 399 Chicago Futures: Mar 09 up  4  at  410 3/4    May 09 up  4  at  421 1/4    Sept 09 up  3 3/4  at  441 1/4    Dec 09 up  4  at  454 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Corn followed soybeans higher, but the upside appears limited. After 4 months, the 08/09 corn export sales are just over half of the year ago level. Many former importers are buying wheat instead of corn for their feed needs. Wheat was also higher on carryover strength from soybeans. Indications the market was oversold were also supportive. However, this market has moved into a sideways trading pattern. Monday’s report is expected to show about a 2 million acre cut in plantings, but that is probably built into futures at this point. Cotton & Rice  Date: January 09, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 110 at  4532   Greenwood down  110 at 4532 New York Futures: Mar 09 down  109  at  4933    May 09 down  102  at  4985    July 09 down  104  at  5120    Dec 09 down  107  at  5567    - - -   - - -  at  - - -  This week's LDP rate for cotton is  14.36 cents   The estimate for next week is  13.09 cents Cotton Comment Cotton turned lower today. Poor economic conditions have cut import needs but there is concern about a potential cut back in ’09 plantings. The recent decline in fertilizer and fuel costs help the bottom line for cotton, but current price levels are well below the government loan and that may keep acres out of cotton. Rice Long Grain Cash Bid for  - - - - - -  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan 09 up  28  at  1508    Mar 09 up  25 1/2  at  1485    May 09 up  24 1/2  at  1502    July 09 up  24 1/2  at  1523    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice posted sharp gains today ahead of Monday’s report. While many anticipate a lower USDA production projection in next week’s report, it may not help in the near term. U.S. milled rice quotes remain well above those of other exporting countries. This is reducing mills’ operating time, and could push futures lower. Rough rice exports remain strong, but generally account for less than 40% of total exports. Cattle & Hogs  Date: January 09, 2009 Cattle As reported by Federal-State Market News, receipts were 9805 head at sales in Arkansas this week.  Compared with last week, feeder steers sold $5 to $10 higher, heifers $3 to $9 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 107.75 to - - -   500 to 550 lbs. 97.75 to - - -   600 to 650 lbs. 89 to - - -  Medium & Large Frame 2   400 to 450 lbs. 97.25 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 87 to - - -  Medium & Large Frame 2   400 to 450 lbs. 85.25 to - - - Slaughter Cows, Boners 39   to   46 Light Weight 25 to 33 Bulls, Yield Grade   1   1000   to   2100 lbs.   50   to   56.50 Midwest Steers   n/a   at   - - -   to   - -- Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 98 to 116.50   550 to 600 lbs. 92.50 to 112 Heifers 500 to 550 lbs. 86 to 99.50   550 to 600 lbs. 84 to 98.50 Chicago Futures: Live Cattle: Feb 09 down 5 at 8310   Apr 09 down 13 at 8683 Feeders: Jan 09 up 60 at 9410   May 09 up 68 at 9560 Cattle Comment Cattle futures continue to be under pressure from economic concerns. Concerns that unemployment and economic woes will limit demand for beef are weighing heavily on this market. February fell through support at the recent low this week, which opens further downside potential. The market is oversold, however, and profit taking could provide a bounce. Hogs Peoria: n/a       at   - - -   to   - - - Chicago Futures: Feb 09 up 3 at 6245   April 09 down 45 at 6860 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs ended mixed. Today’s unemployment numbers pressured deferred contracts. Nearby contracts were supported by stronger export demand and higher cash hog markets. Poultry  Date: January 09, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 92-96; Chicago:  Ex. Lg. 119-127; Lg. 117-125; Med. 84-92; Eastern Region Turkeys Hens: 8-16 lbs. 69-74 Toms: 16-24 lbs. 69-73   Delmarva Broilers U.S. Grade A Trade sentiment was mostly steady. Demand entering the weekend was light to instances moderate, best where featured. Supplies of all sizes were usually sufficient to satisfy trade needs. In production areas, live supplies were moderate at mixed, but 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 (Feb. 9); BP: II Cor. 5:11-16; RBTTY: Mt. 7; Gen.

 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Thu, 8 Jan 2009 18:13:03 -0600
To: <pressingon@hotmail.com>
Subject: Morning Manna (Feb. 9); BP: II Cor. 5:11-16; RBTTY: Mt. 7; Gen.
 

February 9                                                                                                                                                                         &n bsp;                                    “Living For Jesus”

 

“For the love of Christ constrains us, because we thus judge, that if one died for all, then were all dead—and that He died for all, that they who live should not henceforth live unto themselves, but unto Him Who died for them and rose again.”

                                                                                                                                                                                                                            II Corinthians 5:14-15

     It’s our singular purpose and magnificent obsession.

     If we’re like most folks, the older we get, the more funerals of family and friends we attend.  Soon we’ll find ourselves first looking at the obituary section in the paper to see if there’s anyone we know who’s passed on since the last edition.  And, again, the older we get the more often we’ll see the names of those we’ve known who are younger than we are.

 

     That’s why today’s Manna should help us stay focused—for one of these days the obituary will list our name, the date of our departure and those loved ones who were left behind.  However, such a sober realization shouldn’t cause us to live futile, frantic or frustrated lives; instead, it should motivate us to “redeem the time” (Eph. 5:16; Col. 4:5) and to “number our days that we may apply our hearts unto wisdom” (Ps. 90:12).

 

     And, what better way to do this, dear Pilgrim, than incarnating today’s Manna into our lives?  Glory!  Truly, it is “the love of Christ that motivates us to warn others of the coming day of Judgment” (v.11).  And, in warning them we also woo them that this same One Who “died once and for all”—both in number of deaths and for the number of those who are dying—wants to come into their hearts and “make them a new creation” (v.17).  Hallelujah!!

 

     Furthermore, it is this knowledge that should remind us of our insufficiency and His sufficiency (II Cor. 3:4-5).  We realize it is “in Him we live and move and have our being” (Acts 17:28) that prompted Watchman Nee to declare that “Christ is the Sum of all spiritual things.”  And, it was this marvelous Truth that led Mother Theresa to say, “We’ll never know Jesus is all we need until Jesus is all we have.”

 

     So true, so true.

     Because of this, our life’s theme song should be the old Gospel song, which said “Living for Jesus a life that is true, Striving to please Him in all that I do.  Yielding allegiance glad-hearted and free, This is the pathway of blessings for me.  O Jesus, Lord and Savior, I give my life to Thee, For Thou in Thine Atonement didst give Thyself for me.  I own no other Master, My heart shall be Thy Throne.  My life, my all, I give to Thee, O Christ of Calvary.”

 

     In reality, Jesus’ words in Mt. 6:33—“Seek ye first the Kingdom of God and His righteousness and all these things shall be added unto you”—are the basis of Paul’s admonition in today’s Manna.  No longer can we be satisfied with a self-centered, self-seeking lifestyle; instead, we want to “please Him Who has chosen us to be a soldier of the Cross” (II Tim. 2:4; cf. Jn. 8:29).

 

     Therefore, spend some time alone with the Holy Spirit today, Pilgrim, and ask Him to show you any area in your life that’s still not under His control.  Then, give Him the key to every room in your heart and begin singing, “Have Thine Own Way, Lord, Have Thine Own Way.”

01/08/2009 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 08, 2009 Soybeans Local Elevators: (Jan) EAST AR:  975 to 995 (NC) Summ. 901 to 941 River Elevators: (Jan) MISS: 990 to 1010 ; AR & White 964 to 985 (NC) Summ. 911 to 941 Ark. Processor Bids: (Jan) 981 to 1000  (NC) 916 to 941 Memphis:  (Jan) 1014 1/2 to - - - (NC)  931 to 936 Riceland Foods:  (Jan) Stuttgart 1000 ; Pendleton 995 ; West Memphis 1010 Chicago Futures: Jan '09 down 1 at  989   Mar '09  down  1/2  at  989 1/2   May '09 down 1  at  1000   Jul '09 down 3/4  at  1011   Nov '09 down 5  at  1001   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans moved lower late after reversing mid-day gains. The market firmed after it was reported that the Brazilian Ag Ministry had trimmed projected production to below 58 million metric tonnes. Combined with a good export sales report that boosted the market for a brief period. The market remains in an uptrend despite the downward retracement of the last two days. Corn again trimmed recent gains as the trade looked at another poor export sales report. After 4 months, the 08/09 corn export sales are just over half of the year ago level. Many former importers are buying wheat instead of corn for their feed needs. Wheat Cash bid for January at Memphis  502 1/2 to 507 1/2; Bids to farmers at Local Elevators 506-521; River Elevators 513-556; Chicago Futures: Mar '09 down  3/4  at  612 1/2    May '09 down 1/2  at  625 1/2    Jul '09 down  1  at  636 1/4    Sep '09 down  1  at  656 1/4    Dec '09 down  3/4  at  675 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  566 to 575; Bids to farmers at River Elevators 441-521; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   397 3/4 to 401 3/4;   new crop at Memphis   392 1/2 to 397 1/2; Bids to farmers at River Elevators  370 to 395 Chicago Futures: Mar '09 down  9 3/4  at  406 3/4    May '09 down  10  at  417 1/4    Sep '09 down  9 3/4  at  437 1/2    Dec '09 down  10 1/4  at  450 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was lower again today. The weekly export report showed a dismal 1.5 million bushels were exported last week, as foreign buyers opted for much cheaper wheat, mostly from Eastern Europe. Next week’s seeding report is expected to show a substantial drop in acres. The average trade guess has total wheat production pegged at 60 million acres, down from 63 million in 08. Cotton & Rice  Date: January 08, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 31 at  4642   Greenwood up  31 at 4642 New York Futures: Mar '09 up  76  at  5037    May '09 up  88  at  5085    Jul '09 up  85  at  5221    Dec '09 up  85  at  5671    - - - up  - - -  at  - - -  This week's LDP rate for cotton is  14.36 cents   The estimate for next week is  13.09 cents Cotton Comment Cotton continues its recent uptrend with December hitting a new recent high again today. Poor economic conditions have cut import needs but there is concern about a potential cut back in ’09 plantings. The recent decline in fertilizer and fuel costs help the bottom line for cotton, but current price levels are well below the government loan and that may keep acres in cotton. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: Jan '09 down  7  at  1480    Mar '09 down  1/2  at  1459 1/2    May '09 down  1  at  1477 1/2    Jul '09 down  3  at  1498 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice retraced earlier gains and closed a little lower for the day. While many anticipate a lower USDA production projection in next week’s report, it may not help in the near term. U.S. milled rice quotes remain well above those of other exporting countries. This is reducing mills’ operating time, and could push futures lower. Rough rice exports remain strong, but generally account for less than 40% of total exports. Cattle & Hogs  Date: January 08, 2009 Cattle As reported by Federal-State Market News, receipts were 3,192 head at sales in Charlotte, Ratcliff & Green Forest.  Compared with last week, feeder steers sold mostly $6-10 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 90.50 to - - -   500 to 550 lbs. 104 to - - -   600 to 650 lbs. 93.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 99.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 90.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 84 to - - - Slaughter Cows, Boners 38   to   45 Light Weight 27 to 33 Bulls, Yield Grade   1   1000   to   2100 lbs.   52.50   to   59 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Heifers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Feb '09 down 225 at 8353   Apr '09 down 180 at 8713 Feeders: Jan '09 down 100 at 9350   May '09 down 105 at 9505 Cattle Comment Cattle futures continue to be under pressure from economic concerns. Concerns that unemployment and economic woes will limit demand for beef are weighing heavily on this market. February fell through support at the recent low this morning, which opens further downside potential. Hogs Peoria: n/a       at   - - -   to   - - - Chicago Futures: Feb '09 down 115 at 6240   Apr '09 down 113 at 6913 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs also closed lower, mostly on demand concerns. Recent strength has been attributed to export demand, but gains in the value of the dollar are expected to limit exports. Poultry  Date: January 08, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 92-96; Chicago:  Ex. Lg. 119-127; Lg. 117-125; Med. 84-92; Eastern Region Turkeys Hens: 8-16 lbs. 69-74 Toms: 16-24 lbs. 69-73   Delmarva Broilers U.S. Grade A Trade sentiment was mostly steady. Demand into all channels was generally fair at best with light trading. Supplies of all sizes were usually sufficient to satisfy trade needs. In production areas, live supplies were moderate at mixed, but 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 (Jan. 8); BP: Heb. 11; RBTTY: Mt. 6:19-34; Gen. 20-22

 
Samuel D. High
sdhigh@aristotle.net

 

---

-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Wed, 7 Jan 2009 16:22:03 -0600
To: <pressingon@hotmail.com>
Subject: Morning Manna (Jan. 8); BP: Heb. 11; RBTTY: Mt. 6:19-34; Gen. 20-22
 

January 8                                                                                                                                                                                                                     “Faith’s Hope”

 

“By faith Abraham, when he was tried, offered up Isaac.  And he that had received the promises offered up his only begotten son, of whom it was said, ‘That in Isaac shall your seed be called’—accounting that God was able to raise him up, even from the dead, from whence also he received him in a figure.”

                                                                                                                                                                                                                                  Hebrews 11:17-19

     Resurrection faith is not a “hope in the sky-by-and-by” faith; it is “taking God’s Word to the bank” and resting in Who He is and What He has promised (Heb. 11:6).

     Abraham was no banker.  He was a nomadic Pilgrim, going where God led, even though he didn’t know where that’d lead (Heb. 11:8).  Yet, today’s Manna reminds us that he knew the importance of depositing your trust in the One Who created Heaven and earth. . .which is “anointed accounting.”  Hallelujah!!

 

     You have to be living by faith if you’re going to pack up everything and move to a “strange country” (Heb. 11:9) when you’re 75-years-old (Gen. 12:4).  Likewise, even though your faith will be tested along the way. . .and at times you’ll still succumb to fleshly doubts and plans (Gen. 16:1-14; 17:17-18). . .ultimately your faith will remain strong because you know your Friend is faithful (James 2:21-23).

 

     There’s no doubt that Abraham was walking by faith that day when the Lord God told him to take his son—his “only-begotten son,” the “child of promise” (Gal. 4:21-31)—and offer him up as a sacrifice (Gen. 22:1-18).  Other cultures practiced such child sacrifice on a routine basis as offerings to their pagan gods.

 

     But, why would the one true-and-living God demand such of faithful Abraham?

     We can only answer, “Because He is God” and leave it at that.

     Plus, today’s Manna also sheds some much-needed light on the situation and shows this was a time of testing for Abraham.  The Greek word “peirazo” is used here for “tried” and basically means “to test (objectively), to thoroughly examine, scrutinize, prove, assay, pierce, etc.”  It’s the same word used in I Pet. 1:6 for “temptations” and represents the “fiery furnaces” we go through in our faith’s transformation into 24-karat status (I Pet. 1:7).

 

     In Abraham’s case, we find the reason why he’s referred to as “the father of faith” and used as the primary example (other than Jesus) for us to follow (Gal. 3:6, 10-14).  He knew God had promised to “bless all nations THROUGH ISAAC” (Gen. 21:12).  Thus, through “righteous reasoning” and “spiritual speculation” he concluded that God would “raise Isaac from the dead” if he was sacrificed as an offering to God.  Talk about “resurrection hope”!  Glory!!

 

     Oh, dear Pilgrim, do you operate in that same hope?  When you can’t see which way to go, do you remember to “see that which is not and call it so” (Heb. 11:1; II Cor. 4:16-5:8)?  If so, then you, like Abraham, know that our journey here is but “shadows” compared to the eternal Reality that awaits us in His Presence.  We shall not fear—not even in the “valley of the shadow of death” (Ps. 23:4a), for “He is with us” (v.4b) and a shadow reminds us there is a Light somewhere. So, live in hope, dear Pilgrim—always “pressing on” and always “looking unto Jesus, the Author and Finisher of your faith” (Phil. 3:10-13; Heb. 12:1-2).

FWD: Morning Manna (Jan. 6); BP: Heb. 11; RBTTY: Mt. 5:27-48; Gen. 16-17

Happy 2009 to all.  I think my server isn't letting all brother Tom's devotionals get through to me.  God Bless

 
Samuel D. High
sdhigh@aristotle.net

 

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-----Original Message-----
From: Apostle Tom <pressingon@hotmail.com>
Sent: Mon, 5 Jan 2009 18:37:18 -0600
To: <pressingon@hotmail.com>
Subject: Morning Manna (Jan. 6); BP: Heb. 11; RBTTY: Mt. 5:27-48; Gen. 16-17
 

January 6                                                                                                                                                                    &n bsp;                                     “Faith’s Embracing”

 

“These all died in faith, not having received the promises, but having seen them afar off and were persuaded of them and embraced them and confessed that they were strangers and pilgrims on the earth—for they that say such things declare plainly that they seek a country.”

                                                                                                                                                                                                                                 Hebrews 11:13-14

     It’s embracing the eternal and resting in the Unseen. . .knowing that the One Who called you will one day welcome you Home (Mt. 25:21, 23; II Cor. 4:16-5:8).

     “These all died in faith, not having received the promises.”

    How do you feel when you read these words, Pilgrim?  What relevance or application do they have for you in what you’re going through right now?  Do they uplift you or depress you?  Do the words “not having received the promises”—i.e., not being able to see/touch what you’ve been deeply longing for—move you to praise or self-pity?

 

     There’s no doubt the ones being talked about in our Manna were people of faith; otherwise they’d not have been included in this beautiful “Hall of Faith” in Hebrews 11.  Although most are unnamed, they were people of prayer as well.  And, that’s why we should spend considerable time in “righteous rumination” on the deep, wondrous truths contained herein.

 

     The Greek word “lambano” is used here for “received” and basically means “to get hold of, lay one’s hands on, to seize, catch, obtain, realize, etc.”  Thus, it’s a tangible result of one’s faith, hopes and dreams.

 

     How wonderful it is when we pray specifically for something or someone and God answers that prayer in a specific, visible, tangible way.  But, so often, so many of our prayers seem “unanswered.”  We pray specifically. . .believing with all of our hearts “we have not because we ask not” (James 4:2) and “the prayer of mustard-seed faith can move mountains” (Mt. 17:20; James 5:13-18).

 

     But, nothing happens.

     Or, so it seems.

     That loved one is still rebellious and unhearing of our pleas.  That friend is still sick and dying on his hospital bed—or has already died and been buried.  The bills keep mounting up and the bill collector’s phone calls become more frequent. . .even though you’ve continued to give a tithe and offering to the Lord in spite of it all.

 

     So, where’s God in all of this?

     The answer?

     The same place He’s always been, Pilgrim.  Right there with you.  Holding you close to His Heart.  Whispering His Promises to you.  You may not “have received them” (yet).  But, activate your faith and “be persuaded (convinced beyond a shadow of a doubt) of them and embrace them by faith as though they were a present reality.”

 

     The secret is faith. . .childlike trust. . .in Who He is and What He has promised (Heb. 11:6).  “Declare plainly” that you’re a Pilgrim and you’re headed Home (v.13).  Then, by faith, live like you’re already there, rejoicing in the fact that the Heavenly Father knew what you needed and supplied it in His own time and way (Rom. 8:28).

01/02/2008 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 02, 2008 Soybeans Local Elevators: (Jan) EAST AR:  947 to 970 (NC) Summ. 874 to - - - River Elevators: (Jan) MISS: 977 to 995 ; AR & White 957 to 972 (NC) Summ. 913 to 938 Ark. Processor Bids: (Jan) 940 to 970  (NC) 924 to - - - Memphis:  (Jan) 1001 to - - - (NC)  943 1/2 to - - - Riceland Foods:  (Jan) Stuttgart 970 ; Pendleton 970 ; West Memphis 995 Chicago Futures: Jan '09 down 2 1/4 at  970   Mar '09  down  3  at  977   May '09 down 3  at  988 1/2   Jul '09 down 2 3/4  at  1000   Nov '09 down 3 1/4  at  1003 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans traded up and down in today’s session, with a reversal in oil giving the market a boost at mid day. January has yet to push above resistance around $9.80 to $10.00. Should the market penetrate that resistance, further gains would be anticipated. Corn was also up and down in the first session of ’09, but the market made a strong improvement in December, rallying more than a $1. Further gains are possible if the market decides more acreage is needed in ’09. Wheat Cash bid for January at Memphis  501 to 506; Bids to farmers at Local Elevators 505-520; River Elevators 516-555; Chicago Futures: Mar '09 up  1/4  at  611    May '09 up 1/4  at  623 3/4    Jul '09 up  1/2  at  634 1/2    Sep '09 up  1  at  654 1/2    Dec '09 up  1 1/2  at  674 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  584 to - - -; Bids to farmers at River Elevators 450-530; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   407 1/4 to - - -;   new crop at Memphis   403 to - - -; Bids to farmers at River Elevators  450 to 530 Chicago Futures: Mar '09 up  5 1/4  at  412 1/4    May '09 up  5  at  422 3/4    Sep '09 up  5  at  443    Dec '09 up  4 3/4  at  456 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was lower as today’s export report was seen as negative. Plentiful global supplies make it a competitive marketing situation and limits overall upside potential. Cotton & Rice  Date: January 02, 2008 Cotton Spot Price, Grade 41 Staple 34: Memphis down 11 at  4591   Greenwood down  11 at 4591 New York Futures: Mar '09 down  11  at  4891    May '09 down  24  at  4907    Jul '09 down  19  at  5042    Dec '09 down  24  at  5468    - - -   - - -  at  - - -  This week's LDP rate for cotton is  14.36 cents   The estimate for next week is  13.09 cents Cotton Comment Cotton resumed the year on a negative note, but the market did rally to erase much of the early decline. March futures held above key resistance at 48 cents, while new crop December moved above 55 cents. The potential for another big decline in U.S. plantings could key a further rebound in new crop contracts. Old crop contracts will continue to lag behind as economic conditions pare overall demand. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: Jan '09 down  4 1/2  at  1529 1/2    Mar '09 down  13  at  1512    May '09 down  9 1/2  at  1536    Jul '09 down  3 1/2  at  1559 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures were generally mixed in a light trade. U.S. milled rice exports remain almost non existent as current price levels leave little opportunity to compete. Vietnam continues to garner much of the export market, although it appears Thailand may be ready to get competitive. A recent sale of old intervention stocks was completed at a price below $450 per tonne. U.S. quotes remain around $650 per tonne. Cattle & Hogs  Date: January 02, 2008 Cattle As reported by Federal-State Market News, receipts were n/a head at sales in n/a.  Compared with last week, feeder steers n/a . Steers:  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - - Heifers:  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - -  Medium & Large Frame n/a   - - - to - - - lbs. - - - to - - - Slaughter Cows, Boners n/a   to   - - - Light Weight n/a to - - - Bulls, Yield Grade   n/a   - - -   to   - - - lbs.   - - -   to   - - - Midwest Steers   were   at   83   to   - - - Panhandle Steers   were   at   83   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: Feb '09 up 105 at 8710   Apr '09 up 165 at 9075 Feeders: Jan '09 up 155 at 9560   May '09 up 225 at 9785 Cattle Comment Cattle were sharply higher as the market responded to strength in crude oil. February futures have overhead resistance near $90. If that is penetrated, the market might move toward retracement objectives at $92.50 and $95.25. Increased showlists could temper upside potential. Hogs Peoria: were $1     lower   at   29   to   31 Chicago Futures: Feb '09 up 297 at 6385   Apr '09 up 257 at 7127 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs continued the big turnaround that began on Wednesday with a gap higher move. Concern about tightening supplies and improvement in pork cutout values provided underlying support. February futures could test resistance near $67. Poultry  Date: January 02, 2008 Eggs New York:  Ex. Lg. 130-134; Lg. 128-132; Med. 92-96; Chicago:  Ex. Lg. 119-127; Lg. 117-125; Med. 84-92; Eastern Region Turkeys Hens: 8-16 lbs. 69-75 Toms: 16-24 lbs. 69-74   Delmarva Broilers U.S. Grade A Trade sentiment was fully steady. Post holiday demand entering the weekend was light to moderate, best where features and first of the month business was active. Supplies of all sizes were sufficient to closely cleared with some plants running Saturday shifts. In production areas, live supplies were moderate at mixed, but 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