08/06/2009 Farm Burea Market Report

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Grain & Soybean Date: August 06, 2009 Soybeans Local Elevators: (Aug) EAST AR:  n/a to - - - (NC) Summ. 1001 to 1017 River Elevators: (Aug) MISS: 1065 to 1100 ; AR & White 1030 to 1050 (NC) Summ. 1001 to 1035 Ark. Processor Bids: (Aug) 1010 to - - -  (NC) 1007 to 1011 Memphis:  (Aug) 1042 to 1145 (NC)  1040 to 1042 Riceland Foods:  (NC) Stuttgart 1011 ; Pendleton 1017 ; West Memphis 1040 Chicago Futures: Sep down 8 1/2 at  1079 1/2   Nov  down  15  at  1030   Jan '10 down 15  at  1034   Mar '10 down 15  at  1030   Jul '10 down 17  at  1015   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed lower today, but again seemed to be more subdued than corn and wheat. The market paid little attention to good export sales as outside markets were mostly negative. China continues to be a big purchaser of U.S. beans as the 08-09 marketing year enters the last month. November futures tested $10.50 overnight but ended the session at $10.30. Corn continued to retrace the recent upturn that carried to $3.75. Today’s close at $3.40 ¼ suggests a potential retest of support at $3.15. Next week’s supply demand report likely will indicate a higher yield and some adjustment in ’09 planted acreage. The market will have to deal with a lot of corn. Wheat Cash bid for August at Memphis  372 1/4 to 400 1/4; Bids to farmers at Local Elevators 336-340; River Elevators 317-400; Chicago Futures: Sep down  28 1/2  at  500 1/4    Dec down 28 1/2  at  528 1/4    Mar '10 down  28 1/4  at  547    May '10 down  28 1/4  at  559 1/2    Jul '10 down  28 1/4  at  570 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for August at Memphis  572 to - - -; Bids to farmers at River Elevators 494-567; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for August at Memphis   326 1/2 to - - -;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  305 to 326 Chicago Futures: Sep down  14 1/2  at  332 1/2    Dec down  16 3/4  at  340 1/4    Mar '10 down  16 3/4  at  353 3/4    Jul '10 down  17  at  371 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was sharply lower again today. September gapped lower and fell below support at the recent low of $5.05. Weekly exports were strong, but two months in to the marketing year, total exports are just over 50% of what they were a year ago. Cotton & Rice  Date: August 06, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 141 at  5448   Greenwood down  141 at 5448 New York Futures: Oct down  141  at  5898    Dec down  140  at  6086    Mar '10 down  137  at  6298    May '10 down  143  at  6417    - - -   - - -  at  - - -  This week's LDP rate for cotton is  6.36 cents   The estimate for next week is  4.02 cents Cotton Comment Cotton dipped lower today as the market remains in the established trading range between 55 and 65 cents. Mid-South weather conditions have producers nervous about yield potential. The crop needs some dry, sunny weather as it heads toward maturity. For now upside potential is limited. Rice Long Grain Cash Bid for  Sep-Nov 1310/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Sep down  8  at  1371    Nov down  7 1/2  at  1395    Jan '10 down  6  at  1411    Mar '10 down  8 1/2  at  1427    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures were lower again today, but remained in the consolidation pattern that has held for about two weeks. Monday’s key reversal top remains in tact. As long as that is the case the possibility of the market sliding lower exists. Thailand has offered a sizeable tender of intervention stocks but at this point has found little interest. On the positive side a poor monsoon season in India is likely to reduce their plantings by 10 to 15%. This could keep the market firm. Cattle & Hogs  Date: August 06, 2009 Cattle As reported by Federal-State Market News, receipts were 1,724 head at sales in Charlotte, Green Forest & Ratcliff.  Compared with last week, feeder steers sold very unevenly, averaging near steady . Steers:  Medium & Large Frame 1   400 to 450 lbs. 110.75 to - - -   500 to 550 lbs. 105.50 to - - -   600 to 650 lbs. 102 to - - -  Medium & Large Frame 2   400 to 450 lbs. 100.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 99.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 91 to - - - Slaughter Cows, Boners 43   to   47 Light Weight 34 to 39 Bulls, Yield Grade   1   1000   to   2100 lbs.   54   to   60.50, high dressing 63.50-65.50 Midwest Steers   remained   at   80   to   81 Panhandle Steers   remained   at   80   to   81 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: Oct down 70 at 8912   Dec down 52 at 8890 Feeders: Sep down 17 at 10097   Nov up 7 at 10187 Cattle Comment Cattle futures turned lower today. Technical selling and carryover weakness from hogs sparked the selloff. October is holding above support at $88. Tight cattle supplies will provide underlying support. Hogs Peoria: were $1     lower   at   30   to   32 Chicago Futures: Oct down 262 at 4757   Dec down 297 at 4577 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs moved to new lows today. Demand for pork remains weak and packers are caught in a dilemma. Their margins are good, but the market has excess product. Poultry  Date: August 06, 2009 Eggs New York:  Ex. Lg. 100-104; Lg. 98-102; Med. 67-71; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 60-68; Eastern Region Turkeys Hens: 8-16 lbs. 80-82 Toms: 16-24 lbs. 79.5-82   Delmarva Broilers U.S. Grade A Trade sentiment was about steady to barely steady. Demand was light to no better than fair for late week trading. Supplies of all sizes were adequate to fully adequate to satisfy current trade 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

Delivering a State's Promise: Saving Farmland for Our Future

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	Protecting Our Farms, Protecting our Communities Dear Agriculture, Donate Today To Help Us Protect the Land That Sustains Us In a proud moment last month, Wisconsin delivered on a promise made to its farmers. The new Working Lands Initiative will modernize Wisconsin’s 30-year-old Farmland Preservation Program, help farmers protect their land through a purchase of agricultural conservation easement program, and support the creation of agricultural enterprise areas. Approval for this initiative underscores the salient point that farms offer more than pastoral beauty—they are the backbone of regional economies and communities, provide food for our tables, and offer significant opportunity to protect our environment and natural resources. Our working lands can only continue to provide for our communities, our tables, and the environment if we protect them. Over the last year we were able to continue our efforts to help secure a brighter future for farmland in places like Wisconsin. We couldn’t have completed this work without your support! Please make a gift today so we can expand our work to make more programs such as the Working Lands Initiative possible. States all across the county are cutting much needed funding for farmland protection programs. We need more programs that take the long view and acknowledge that losing farms and farmland is not good for the economy, the community, or the environment. With farmland disappearing at an alarming rate, every two minutes gone by is another lost acre of farmland. Take a stand by making a contribution that will help us protect the land that sustains us. We will put your dollar to work by impacting state and federal policies to ensure smart decisions that help farmers continue to provide healthy food, fiber, regional economic security, and environmental stewardship! Sincerely, Bob Wagner Senior Director, Farmland Protection American Farmland Trust
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08/05/2009 Farm Bureau Market Report

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Grain & Soybean Date: August 05, 2009 Soybeans Local Elevators: (Aug) EAST AR:  n/a to - - - (NC) Summ. 1005 to 1027 River Elevators: (Aug) MISS: 1080 to 1115 ; AR & White 1045 to 1065 (NC) Summ. 1016 to 1050 Ark. Processor Bids: (Aug) 1025 to - - -  (NC) 1021 to 1024 Memphis:  (Aug) 1055 to 1165 (NC)  1055 to - - - Riceland Foods:  (NC) Stuttgart 1021 ; Pendleton 1027 ; West Memphis 1048 Chicago Futures: Sep up 4 1/2 at  1088   Nov  up  13 1/2  at  1045   Jan '10 up 13 1/2  at  1049   Mar '10 up 15  at  1045   Jul '10 up 15 1/2  at  1032   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment While all other grains moved lower, soybeans closed higher bolstered by a smaller production estimate by Informa. This year’s crop was placed at 3.177 billion bushels on a 41.6 bushel per acre yield. That is 1 bushel per acre below what USDA has been using. November closed above resistance at $10.40, which gives the market a target just under $11 if the current uptrend can be maintained. Corn declined again today, but did close well above the day’s lows. Informa put this corn yield at 157 bushels per acre, well above the July USDA number, but below some estimates of 160 or better. Wheat Cash bid for August at Memphis  400 3/4 to 428 3/4; Bids to farmers at Local Elevators 365-369; River Elevators 346-429; Chicago Futures: Sep down  13 1/2  at  528 3/4    Dec down 13 1/2  at  556 3/4    Mar '10 down  13 1/2  at  575 1/4    May '10 down  13 1/4  at  587 3/4    Jul '10 down  12 3/4  at  599    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for August at Memphis  573 to 611; Bids to farmers at River Elevators n/a; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for August at Memphis   338 to 352;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  319 to 340 Chicago Futures: Sep down  7 1/2  at  347    Dec down  8 3/4  at  357    Mar '10 down  8 1/2  at  370 1/2    Jul '10 down  8 1/4  at  388 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was sharply lower. September closed the gap left by Monday’s rally, and could head for a retest of support at $5.05. Fundamentals will keep futures under pressure. The crop ratings slipped a little this week, but 71% of the crop is still considered to be in good to excellent condition. Cotton & Rice  Date: August 05, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 26 at  5589   Greenwood down  26 at 5589 New York Futures: Oct down  26  at  6039    Dec down  30  at  6226    Mar '10 down  30  at  6435    May '10 down  30  at  6560    - - -   - - -  at  - - -  This week's LDP rate for cotton is  6.36 cents   The estimate for next week is  4.17 cents Cotton Comment Cotton dipped slightly as the market remains in the established trading range between 55 and 65 cents. Mid-South weather conditions have producers nervous about yield potential. The crop needs some dry, sunny weather as it heads toward maturity. For now upside potential is limited. Rice Long Grain Cash Bid for  Aug-Nov 1294/cwt  to  - - -   n/a - - -  to  - - - Chicago Futures: Sep down  2 1/2  at  1379    Nov unchanged    at  1402 1/2    Jan '10 down  1/2  at  1417    Mar '10 down  1  at  1435 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice ended the day steady to slightly lower as November futures continue in a consolidation pattern. Monday’s key reversal top remains in tact. As long as that is the case the possibility of the market sliding lower exists. Thailand has offered a sizeable tender of intervention stocks but at this point has found little interest. On the positive side a poor monsoon season in India is likely to reduce their plantings by 10 to 15%. This could keep the market firm. Cattle & Hogs  Date: August 05, 2009 Cattle As reported by Federal-State Market News, receipts were 922 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold firm to $3 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 110 to - - -   500 to 550 lbs. 103.50 to - - -   600 to 650 lbs. 100 to - - -  Medium & Large Frame 2   400 to 450 lbs. 106.25 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 100 to - - -  Medium & Large Frame 2   400 to 450 lbs. 89 to - - - Slaughter Cows, Boners 45   to   48 Light Weight n/a to - - - Bulls, Yield Grade   1   1400   to   2300 lbs.   55   to   60.50, high dressing 61-63.50 Midwest Steers   were quoted   at   80   to   81 Panhandle Steers   were quoted   at   80   to   81 Oklahoma City Feeders Steers 500 to 550 lbs. 106 to 114   600 to 650 lbs. 101 to 106.50 Heifers 500 to 550 lbs. 102.25 to 107.25   600 to 650 lbs. 97 to 102.25 Chicago Futures: Live Cattle: Oct up 10 at 8982   Dec up 2 at 8942 Feeders: Sep up 57 at 10115   Nov up 35 at 10180 Cattle Comment Cattle futures ended mostly higher after posting sharp losses in early dealings. Technical selling and carryover weakness from hogs sparked the selloff. October stopped at support at $88. Tight cattle supplies will provide underlying support, but demand needs to improve in order for futures to move much higher. Hogs Peoria: were     steady   at   31   to   33 Chicago Futures: Oct up 7 at 5020   Dec down 47 at 4875 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs moved to new lows today. Demand for pork remains weak and packers are caught in a dilemma. Their margins are good, but the market has excess product. Poultry  Date: August 05, 2009 Eggs New York:  Ex. Lg. 104-108; Lg. 102-106; Med. 67-71; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 60-68; Eastern Region Turkeys Hens: 8-16 lbs. 80-82 Toms: 16-24 lbs. 79.5-82   Delmarva Broilers U.S. Grade A Trade sentiment was about steady to barely steady. Demand for mid week trading was light to fair with trading usually limited to regular commitments. Supplies of all sizes were at least adequate to available for 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

Let's Celebrate National Farmers Market Week

 

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	Dear Agriculture, When thinking about National Farmers Market Week, a host of images and flavors comes to mind: gemlike raspberries, juicy peaches, sweet buttery corn, plump tomatoes, artisan cheese from local dairy farms and fresh local eggs. What may surprise you is that most of these foods are grown near cities, which can be good because it means the food is grown close to market. But it also means that much of our local food is grown on farmland threatened by development.   Food in the Path of Development Please join American Farmland Trust in celebrating National Farmers Market Week! And please vote, as this also is the final week of the America’s Favorite Farmers Markets contest—our contest to promote the value of farmers markets in communities and to make the connection between fresh local foods and the local farms and farmland that supply them. Much of our fresh local food is grown on urban-edge farms that are directly in the path of development. Market Value of U.S. Food Production in Urban Edge Counties, sourced from USDA data. That is why farmers markets, along with CSAs, farm stands, restaurants and grocery stores committed to buying locally are so important! Farmers markets do more than just fill our plates and provide a place for the community to meet; they are also keeping local farmers on their land. This week is the last week for you to cast your vote in America’s Favorite Farmers Markets contest. The top small, medium, and large farmers markets will be announced online at midnight EST on August 8th, 2009. Please take a moment during this week in honor of farmers markets to vote for your favorite farmers market! Sincerely, Julia Freedgood Managing Director, Growing Local American Farmland Trust
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08/04/2009 Farm Bureau Market Report

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Grain & Soybean Date: August 04, 2009 Soybeans Local Elevators: (Aug) EAST AR:  n/a to - - - (NC) Summ. 992 to 1013 River Elevators: (Aug) MISS: 1061 to 1076 ; AR & White 1031 to 1041 (NC) Summ. 998 to 1037 Ark. Processor Bids: (Aug) 1012 to - - -  (NC) 1008 to 1011 Memphis:  (Aug) 1041 1/2 to 1156 1/2 (NC)  1041 1/2 to - - - Riceland Foods:  (Aug) Stuttgart 1008 ; Pendleton 1014 ; West Memphis 1035 Chicago Futures: Sep down 5 at  1083 1/2   Nov  up  1  at  1031 1/2   Jan '10 up 2 3/4  at  1035 1/2   Mar '10 up 3 3/4  at  1030   Jul '10 up 5 1/2  at  1016 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed mixed as the nearby contracts retraced a portion of recent gains. Outside contracts were generally negative with the $ making a little rebound and crude oil mostly lower. November is continuing to find resistance at $10.40. Near term the market may still move toward early June high just below $11. Longer term the size of this year’s crop is likely to send the market lower with $9.40 providing initial support. Corn was lower as the market gave back a little of the recent gains. December has initial resistance at $3.75 and then at $3.90 to $4. Expectations for record yields will likely limit upside movement. For now support starts at $3.50. Wheat Cash bid for August at Memphis  414 1/4 to 442 1/4; Bids to farmers at Local Elevators 378-407; River Elevators 359-442; Chicago Futures: Sep down  7  at  542 1/4    Dec down 7  at  570 1/4    Mar '10 down  6 1/2  at  588 3/4    May '10 down  6 3/4  at  601    Jul '10 down  7  at  611 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for August at Memphis  591 to 626; Bids to farmers at River Elevators 541-605; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for August at Memphis   345 1/2 to 354 1/2;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  326 to 347 Chicago Futures: Sep down  3 1/2  at  354 1/2    Dec down  3 1/4  at  365 3/4    Mar '10 down  3  at  379    Jul '10 down  3  at  396 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat turned lower today. Fundamentals would appear to limit upside potential, with a good spring crop expected to add to big U.S. and world supplies. The crop ratings slipped a little this week, but 71% of the crop is still considered to be in good to excellent condition. September has resistance between $5.50 and $5.60. Cotton & Rice  Date: August 04, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 1 at  5615   Greenwood down  1 at 5615 New York Futures: Oct down  1  at  6065    Dec down  3  at  6256    Mar '10 down  5  at  6465    May '10 down  5  at  6590    - - -   - - -  at  - - -  This week's LDP rate for cotton is  6.36 cents   The estimate for next week is  4.50 cents Cotton Comment Cotton failed to followthrough on yesterday’s big move and ended the session lower. Big U.S. and world stocks are offsetting this year’s smaller projected production. As the world economic situation improves textile demand should increase bringing China back to the import market. Key resistance is the recent high just below 65 cents. Above that is the long term chart retracement objective of 70.5 cents. Rice Long Grain Cash Bid for  Aug-Nov 1297/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Sep up  18 1/2  at  1381 1/2    Nov up  15 1/2  at  1402 1/2    Jan '10 up  14 1/2  at  1417 1/2    Mar '10 up  15 1/2  at  1436 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice registered a key reversal top yesterday, but refused to move lower today. November failed to move above yesterday’s high and lost momentum at the close. For now the key reversal top remains just that, it will take a close above $14.23 to negate the formation. A smaller U.S. long grain crop is a positive factor, but it may be largely offset by large Thai intervention stocks. Cattle & Hogs  Date: August 04, 2009 Cattle As reported by Federal-State Market News, receipts were 851 head at sales in Fort Smith.  Compared with last week, feeder steers sold mostly $1-3 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 107.25 to - - -   500 to 550 lbs. 102.25 to - - -   600 to 650 lbs. 93.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. 97.25 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 104.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 89.50 to - - - Slaughter Cows, Boners 45   to   49.50 Light Weight n/a to - - - Bulls, Yield Grade   1   1000   to   2100 lbs.   52.50   to   59.50 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: Oct down 60 at 8972   Dec down 20 at 8940 Feeders: Sep down 140 at 10057   Nov down 65 at 10145 Cattle Comment Cattle futures ended the day lower. Packers are reluctant buyers at current cash prices and appear to be well covered for the next two weeks. Weak retail demand suggests the economic situation remains a key factor. Tightening cattle supplies will provide a little boost but demand will need to improve. Hogs Peoria: were $1     lower   at   31   to   33 Chicago Futures: Oct down 192 at 5012   Dec down 247 at 4922 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs posted sharp losses. Demand for pork remains weak and packers are caught in a dilemma. Their margins are good, but the market has excess product. October fell to a new contract low in today’s trade. Poultry  Date: August 04, 2009 Eggs New York:  Ex. Lg. 107-111; Lg. 105-109; Med. 67-71; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 60-68; Eastern Region Turkeys Hens: 8-16 lbs. 81-84 Toms: 16-24 lbs. 79.5-84   Delmarva Broilers U.S. Grade A Trade sentiment was about steady to barely steady. Demand was light to no better than fair with limited trading. Supplies of all sizes were adequate to satisfy most 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

08/03/2009 Farm Bureau Market Report

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Grain & Soybean Date: August 03, 2009 Soybeans Local Elevators: (Aug) EAST AR:  n/a to - - - (NC) Summ. 991 to 1013 River Elevators: (Aug) MISS: 1045 to 1066 ; AR & White 1030 to 1040 (NC) Summ. 997 to 1027 Ark. Processor Bids: (Aug) 1011 to - - -  (NC) 1007 to 1010 Memphis:  (Aug) 1040 1/2 to 1160 1/2 (NC)  1040 1/2 to - - - Riceland Foods:  (NC) Stuttgart 1007 ; Pendleton 1013 ; West Memphis 1034 Chicago Futures: Sep up 44 1/2 at  1088 1/2   Nov  up  48 1/2  at  1030 1/2   Jan '10 up 48 1/4  at  1032 3/4   Mar '10 up 45 1/4  at  1026 1/4   Jul '10 up 33  at  1011   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans held overnight gains and closed sharply higher. After gapping higher overnight the market extended gains and November closed within cents of resistance at $10.40. Continued strength in crude oil and equities prompted fund buying. Index funds facing potential imposition of much tighter trading limits don’t appear to be a major factor. But weakness in the dollar and renewed concern about inflation has investors seeking investments. Possible hot and dry weather conditions simply added to the underlying support. Corn made exceptional gains with December gapping above resistance at $3.50, leaving a 4 week island reversal low. This suggests that at least a temporary low is in place. The market fell back after testing resistance at $3.75. A close above this level would suggest an upside objective between $3.90 and $4. The early June high of $4.37 ½ would seem out of the question, considering this year’s expected yield potential. Wheat Cash bid for August at Memphis  447 1/4 to 449 1/4; Bids to farmers at Local Elevators 407-412; River Elevators 371-449; Chicago Futures: Sep up  21  at  549 1/4    Dec up 21 1/2  at  577 1/4    Mar '10 up  21 1/2  at  595 1/4    May '10 up  21 3/4  at  607 3/4    Jul '10 up  22  at  618 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for August at Memphis  351 to 358; Bids to farmers at River Elevators 546-610; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for August at Memphis   351 to 358;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  328 to 349 Chicago Futures: Sep up  18 1/2  at  358    Dec up  19 1/2  at  369    Mar '10 up  19 3/4  at  382    Jul '10 up  19  at  399 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat posted solid gains again today following the lead of corn and beans. September is testing resistance between $5.50 and $5.60. Fundamentals would appear to limit upside potential, with a good spring crop expected to add to big U.S. and world supplies. Cotton & Rice  Date: August 03, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 298 at  5616   Greenwood up  298 at 5616 New York Futures: Oct up  273  at  6066    Dec up  257  at  6259    Mar '10 up  238  at  6460    May '10 up  240  at  6585    - - -   - - -  at  - - -  This week's LDP rate for cotton is  6.36 cents   The estimate for next week is  5.29 cents Cotton Comment Cotton made a huge move as it followed grains and soybeans higher. A weaker dollar provided some buying incentive. Smaller U.S. and world production is supportive, but the market must deal with ample stocks and test slow economic recovery. December could test upper resistance at 65 cents. The next major objective is 70.5 cents. Rice Long Grain Cash Bid for  Aug-Nov 1302/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Sep down  13 1/2  at  1363    Nov down  12 1/2  at  1387    Jan '10 down  13 1/2  at  1403    Mar '10 down  15  at  1421    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was unable to hold overnight gains and fell back in late trading. November futures registered a key reversal formation which normally signals topping or bottoming action. In this case, it would suggest a temporary top. Initial retracement objectives range from $13.38 to $12.85. Prospects of a smaller U.S. long grain crops is supportive, but concern about huge Thai intervention stocks remain a factor. While futures had gained over $2 the last 4 weeks, there appears to be little indication the milled market will follow. Cattle & Hogs  Date: August 03, 2009 Cattle As reported by Federal-State Market News, receipts were 2,278 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold steady to $2 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 110 to - - -   500 to 550 lbs. 103.75 to - - -   600 to 650 lbs. 98.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 100 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 95 to - - -  Medium & Large Frame 2   400 to 450 lbs. 88 to - - - Slaughter Cows, Boners 40   to   48 Light Weight 30 to 38 Bulls, Yield Grade   1   1000   to   2100 lbs.   54   to   60, high dressing 60-64.50 Midwest Steers   were $1 higher   at   81   to   83 Panhandle Steers   were steady to $1 higher   at   80   to   82 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: Oct up 12 at 9032   Dec up 37 at 8960 Feeders: Sep down 57 at 10197   Nov down 55 at 10210 Cattle Comment Cattle futures ended mixed. Packers are reluctant buyers at current cash prices and appear to be well covered for the next two weeks. Weak retail demand suggests the economic situation remains a key factor. Tightening cattle supplies will provide a little boost but demand will need to improve. Hogs Peoria: were     steady   at   32   to   34 Chicago Futures: Oct down 185 at 5205   Dec down 152 at 5170 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs posted sharp losses. Demand for pork remains weak and packers are caught in a dilemma. Their margins are good, but the market has excess product. October is testing support at the contract low of $51.70. Poultry  Date: August 03, 2009 Eggs New York:  Ex. Lg. 107-111; Lg. 105-109; Med. 67-71; Chicago:  Ex. Lg. 101-109; Lg. 99-107; Med. 60-68; Eastern Region Turkeys Hens: 8-16 lbs. 81-84 Toms: 16-24 lbs. 79.5-84   Delmarva Broilers U.S. Grade A Trade sentiment was about steady to barely steady. Demand following the weekend was light to fair with limited first of the month trading. Supplies of all sizes were at least adequate to satisfy current 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use