09/08/2009 Farm Bureau Market Report

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Grain & Soybean Date: September 08, 2009 Soybeans Local Elevators: (Sep) EAST AR:  n/a to - - - (NC) Summ. 921 to 937 River Elevators: (Sep) MISS: 937 to 949 ; AR & White 915 to 936 (NC) Summ. 914 to 960 Ark. Processor Bids: (Sep) n/a to - - -  (NC) 928 to 931 Memphis:  (Sep) 941 1/2 to 961 1/2 (NC)  951 1/2 to 956 1/2 Riceland Foods:  (Sep) Stuttgart 931 ; Pendleton 937 ; West Memphis 960 Chicago Futures: Nov up 14 1/2 at  936 1/2   Jan '10  up  16 1/4  at  943 1/4   Mar '10 up 19 1/2  at  947 1/4   Jul '10 up 20  at  950   Nov '10 up 19 1/2  at  908 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed with solid gains despite continuing good weather and indications this will be a record crop. Outside markets were a big boost as they renewed inflation fears, which prompted fund buying. November hit resistance at the previous support around $9.40. This could be tough resistance, and the next area around $10.17 would seem to be out of the question considering the potential size of this crop. Corn traded to both sides of Friday’s close before ending the session with modest gains. December continues to hold above $3 but they may be short lived as private yield estimates continue to move higher. Some are above 165 and others suggest it could reach 170. No matter, either would leave a big stocks situation and pressure the market toward long term chart support at $2.90 and perhaps $2.65. Wheat Cash bid for September at Memphis  288 to 309; Bids to farmers at Local Elevators 373; River Elevators 393-418; Chicago Futures: Dec down  12 3/4  at  459    Mar '10 down 12 3/4  at  478 3/4    May '10 down  12 1/2  at  491 1/4    Jul '10 down  12  at  503    Sep '10 down  11 1/2  at  518 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for September at Memphis  537 to 558; Bids to farmers at River Elevators 450-533; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for September at Memphis   297 1/2 to - - -;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  450 to 533 Chicago Futures: Dec up  1 1/4  at  307 1/2    Mar '10 up  1 1/4  at  321    Jul '10 up  1 1/4  at  339    Dec '10 up  1 1/4  at  357 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat continued the slide lower with little indication a bottom is in sight. Big supplies and limited export interest are driving the market, which should be finding a bottom soon. Seasonally, the market rebounds after harvest, peaking in October or November. Cotton & Rice  Date: September 08, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 250 at  5603   Greenwood up  250 at 5603 New York Futures: Oct up  125  at  5878    Dec up  113  at  6076    Mar '10 up  98  at  6310    May '10 up  107  at  6469    - - -   - - -  at  - - -  This week's LDP rate for cotton is  5.94 cents   The estimate for next week is  5.74 cents Cotton Comment Cotton moved above recent resistance as the market remains in a broad trading range between 57 cents and 65.5 cents. Fear of inflation brought funds back in the market as cotton appears under-priced versus soybeans, rice, etc. However, it will be difficult for cotton to move above the upper end of the trading range without renewed import interest from China. Rice Long Grain Cash Bid for  Sep/Oct 1295  to  1300/cwt   Nov 1300/cwt  to  - - - Chicago Futures: Nov down  20 1/2  at  1395    Jan '10 down  20 1/2  at  1418    Mar '10 down  20 1/2  at  1442    May '10 down  19  at  1466    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures failed to move through resistance at $14.25 and slid lower into the close. Friday’s supply/demand report may hold the key, if USDA adjusts yield and or harvested acreage. The later harvest and concern about the size of this year’s crop has kept the market firm with major support around $13.40. Cattle & Hogs  Date: September 08, 2009 Cattle As reported by Federal-State Market News, receipts were 1,747 head at sales in Ola, Ash Flat & Heber Springs.  Compared with last week, feeder steers sold weak to $4 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 108 to - - -   500 to 550 lbs. 98 to - - -   600 to 650 lbs. 93 to - - -  Medium & Large Frame 2   400 to 450 lbs. 95 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 91 to - - -  Medium & Large Frame 2   400 to 450 lbs. 85 to - - - Slaughter Cows, Boners 38   to   45 Light Weight 25 to 28 Bulls, Yield Grade   1   1000   to   2100 lbs.   52   to   57.50, high dressing $58-61.50 Midwest Steers   were $1-3 higher   at   83   to   85 Panhandle Steers   were $1lower to $3 higher   at   81   to   85 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 45 at 8710   Dec up 20 at 8687 Feeders: Oct up 62 at 9917   Nov up 60 at 9987 Cattle Comment Cattle firmed on good Labor Day weekend movement. Strong crude oil and a weaker dollar boosted inflation concerns but suggested improvement in the overall economy. Packers appear to be short of needs, which could prompt near term strength. October futures need to clear resistance near $87 to keep the uptrend intact. Hogs Peoria: were     steady   at   23   to   25 Chicago Futures: Oct up 47 at 5097   Dec up 50 at 4895 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were higher again today as packer demand remains solid. Good packer margins should push plants to their maximum. This may be tough in the long run unless pork demand continues to increase, but good short term. Poultry  Date: September 08, 2009 Eggs New York:  Ex. Lg. 94-98; Lg. 92-96; Med. 69-73; Chicago:  Ex. Lg. 83-91; Lg. 81-89; Med. 61-69; Eastern Region Turkeys Hens: 8-16 lbs. 78-82 Toms: 16-24 lbs. 78-82   Delmarva Broilers U.S. Grade A The market tone was steady. Retail and food service demand was light to moderate following the extended holiday weekend. Supplies of all sizes were fully sufficient to satisfy current trade needs. In production areas, live supplies were moderate at 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

09/04/2009 Farm Bureau Market Report

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Grain & Soybean Date: September 4, 2009 There will no market report published on Monday, September 7 in observance of the holiday. The next report will be published on Tuesday, September 8. Soybeans Local Elevators: (Sep) EAST AR:  n/a to - - - (NC) Summ. 906 to 922 River Elevators: (Sep) MISS: 937 to 950 ; AR & White 911 to 932 (NC) Summ. 905 to 945 Ark. Processor Bids: (Sep) n/a to - - -  (NC) 913 to 916 Memphis:  (Sep) 942 to 947 (NC)  942 to - - - Riceland Foods:  (Sep) Stuttgart 916 ; Pendleton 936 ; West Memphis 945 Chicago Futures: Nov down 19 1/2 at  922   Jan '10  down  18 1/2  at  927   Mar '10 down 18 1/2  at  927 3/4   Jul '10 down 16 1/2  at  930   Nov '10 down 12  at  889   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans fell through key support at $9.40 and then penetrated a shallow uptrend before the end of the session. Technically, this leaves the market vulnerable to further declines with initial support at July lows near $8.80. A huge crop has been projected by several private firms. Each day the crop gets closer to realizing its full potential. Corn continued the decline that saw December fall to a new recent low. This indicates further pressure with long term chart support around $2.90, the initial downside objective. Private firms continue to raise their potential yield targets. Even low end estimates will likely leave the market with huge ending stocks. Wheat Cash bid for September at Memphis  301 3/4 to 321 3/4; Bids to farmers at Local Elevators 385; River Elevators 397-420; Chicago Futures: Dec down  7  at  471 3/4    Mar '10 down 7  at  491 1/2    May '10 down  7 1/4  at  503 3/4    Jul '10 down  7  at  515    Sep '10 down  7 1/2  at  530    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for September at Memphis  533 to 547; Bids to farmers at River Elevators 448-532; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for September at Memphis   294 1/4 to 297 1/4;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  278 to 295 Chicago Futures: Dec down  9 1/2  at  306 1/4    Mar '10 down  9 1/4  at  319 3/4    Jul '10 down  8 3/4  at  337 3/4    Dec '10 down  8 1/2  at  356 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were lower again today. The market is oversold and due a rebound, but with a large spring wheat crop and the potential for a record large corn crop, the upside will be limited. Continued weakness in soybeans and corn is also making it difficult for wheat to recover. Cotton & Rice  Date: September 4, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 38 at  5353   Greenwood up  38 at 5353 New York Futures: Oct up  38  at  5753    Dec up  39  at  5963    Mar '10 up  45  at  6212    May '10 up  46  at  6362    - - -   - - -  at  - - -  This week's LDP rate for cotton is  5.94 cents   The estimate for next week is  5.87 cents Cotton Comment Cotton again managed small gains as December remains above recent support at 57 cents. December remains in a fairly wide trading range between 57 and 65.5 cents. A smaller U.S. crop is being offset by reduced import demand, as world economic conditions remain questionable. Improving conditions would give better marketing opportunities, but it will take time. Rice Long Grain Cash Bid for  Sep-Nov 1320/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Nov up  5  at  1415 1/2    Jan '10 up  5  at  1438 1/2    Mar '10 up  5 1/2  at  1462 1/2    May '10 up  5 1/2  at  1485    n/a up  - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice closed a little higher as the market continues to edge higher. A late harvest and prospects of a smaller long grain crop are keeping the market in a positive mode. November resistance remains the early August high just below $14.30. Cattle & Hogs  Date: September 4, 2009 Cattle As reported by Federal-State Market News, receipts were 9,855 head at sales in Arkansas this week.  Compared with last week, feeder steers sold $2-5 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 105.25 to - - -   500 to 550 lbs. 98 to - - -   600 to 650 lbs. 91 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 94.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 86 to - - - Slaughter Cows, Boners 38   to   45 Light Weight 24 to 27 Bulls, Yield Grade   1   1000   to   2100 lbs.   50   to   57, high dressing 58-62 Midwest Steers   were $1-2 higher   at   83   to   84 Panhandle Steers   were $1-2 higher   at   83   to   84 Oklahoma City Feeders Steers 500 to 550 lbs. 100 to 113   600 to 650 lbs. 98 to 107.75 Heifers 500 to 550 lbs. 90 to 98   600 to 650 lbs. 86.50 to 87 Chicago Futures: Live Cattle: Oct down 7 at 8665   Dec steady at 8667 Feeders: Oct up 17 at 9855   Nov up 42 at 9927 Cattle Comment Cattle ended mixed. Tight cattle supplies are keeping the floor in this market. October live cattle could test spring and summer support between $84.50 and $85.50. Feeder futures have support near $95. Hogs Peoria: were $2     lower   at   23   to   25 Chicago Futures: Oct up 72 at 5050   Dec up 80 at 4845 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs ended a bit higher. An already bearish cash situation and an expected seasonal increase in marketings will make a recovery difficult. October is testing resistance near $50. Poultry  Date: September 4, 2009 Eggs New York:  Ex. Lg. 94-98; Lg. 92-96; Med. 69-73; Chicago:  Ex. Lg. 83-91; Lg. 81-89; Med. 61-69; Eastern Region Turkeys Hens: 8-16 lbs. 78-82 Toms: 16-24 lbs 78-82   Delmarva Broilers U.S. Grade A The market tone was steady. Supplies of all sizes were readily available to satisfy current trade needs. In production areas, live supplies were moderate at 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

09/03/2009 Farm Bureau Market Report

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Grain & Soybean Date: September 03, 2009 Soybeans Local Elevators: (Sep) EAST AR:  n/a to - - - (NC) Summ. 926 to 942 River Elevators: (Sep) MISS: 961 to 997 ; AR & White 930 to 951 (NC) Summ. 924 to 965 Ark. Processor Bids: (Sep) n/a to - - -  (NC) 933 to 936 Memphis:  (Sep) 961 1/2 to 971 1/2 (NC)  961 1/2 to 966 1/2 Riceland Foods:  (NC) Stuttgart 936 ; Pendleton 942 ; West Memphis 965 Chicago Futures: Nov down 27 1/4 at  982   Jan '10  down  8 3/4  at  945 1/2   Mar '10 down 7 3/4  at  946 1/4   Jul '10 down 8 1/2  at  946 1/2   Nov '10 down 5  at  901   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans rallied late to retrace a portion of earlier losses. This allowed November to close above key support at $9.40. Recent strong Chinese buying was the only major positive factor working in the market. Overall, the prospects for a big crop are increasing with each passing day. Downside potential remains high. A close below $9.40 will bring support at $9.25, $8.80 and $8 into play. Corn lost ground in the battle to hold key support around $3.20. While December closed above the day’s lows it was well below $3.20. This could trigger further weakness in the day’s ahead. With a 3 day weekend coming up the market could see some Friday evening up of positions. Long term this crop will be huge and that probably means price will drift toward long term chart support at $2.90. Wheat Cash bid for September at Memphis  298 3/4 to 328 3/4; Bids to farmers at Local Elevators 292; River Elevators 404-427; Chicago Futures: Dec down  7  at  478 3/4    Mar '10 down 6 3/4  at  498 1/2    May '10 down  7  at  511    Jul '10 down  8 1/2  at  522    Sep '10 down  8  at  537 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for September at Memphis  550 to 564; Bids to farmers at River Elevators 466-550; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for September at Memphis   303 3/4 to 306 3/4;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  282 to 305 Chicago Futures: Dec down  3 1/2  at  315 3/4    Mar '10 down  3 1/2  at  329    Jul '10 down  3 1/4  at  346 1/2    Dec '10 down  2 1/2  at  365    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were lower again today. The market is oversold and due a rebound, but with a large spring wheat crop and the potential for a record large corn crop, the upside will be limited. Cotton & Rice  Date: September 03, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 26 at  5315   Greenwood up  26 at 5315 New York Futures: Oct up  26  at  5715    Dec up  33  at  5924    Mar '10 up  38  at  6167    May '10 up  44  at  6316    n/a   - - -  at  - - -  This week's LDP rate for cotton is  cents   The estimate for next week is  cents Cotton Comment Cotton firmed a little today as December remains above recent support at 57 cents. December remains in a fairly wide trading range between 57 and 65.5 cents. A smaller U.S. crop is being offset by reduced import demand, as world economic conditions remain questionable. Improving conditions would give better marketing opportunities, but it will take time. Rice Long Grain Cash Bid for  Sep-Nov 1316/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Nov up  25 1/2  at  1410 1/2    Jan '10 up  25 1/2  at  1433 1/2    Mar '10 up  26 1/2  at  1457    May '10 up  26  at  1479 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice ended the session sharply higher as today’s rebound retraced yesterday’s losses. A late harvest and prospects of a smaller long grain crop are keeping the market in a positive mode. November resistance remains the early August high just below $14.30. Cattle & Hogs  Date: September 03, 2009 Cattle As reported by Federal-State Market News, receipts were 1,288 head at sales in Charlotte & Ratcliff.  Compared with last week, feeder steers sold weak to $3 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 104.25 to - - -   500 to 550 lbs. 98.50 to - - -   600 to 650 lbs. 95 to - - -  Medium & Large Frame 2   400 to 450 lbs. 94.75 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 90.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 86.75 to - - - Slaughter Cows, Boners 38   to   45 Light Weight n/a to - - - Bulls, Yield Grade   1   1000   to   2100 lbs.   52   to   56 Midwest Steers   were quoted   at   82   to   - - - Panhandle Steers   remained   at   82   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 5 at 8672   Dec down 12 at 8667 Feeders: Oct down 12 at 9837   Nov down 30 at 9885 Cattle Comment Cattle ended mixed. Tight cattle supplies are keeping the floor in this market. October live cattle could test spring and summer support between $84.50 and $85.50. Feeder futures have support near $95. Hogs Peoria: were     steady   at   27   to   - - - Chicago Futures: Oct up 95 at 4977   Dec up 80 at 4765 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs continue to struggle with a bearish fundamental situation. Seasonal weakness in the cash market will keep a lid on prices. Resistance for October is at $49.50 and $50. Poultry  Date: September 03, 2009 Eggs New York:  Ex. Lg. 94-98; Lg. 92-96; Med. 69-73; Chicago:  Ex. Lg. 83-91; Lg. 81-89; Med. 61-69; Eastern Region Turkeys Hens: 8-16 lbs. 80-82.5 Toms: 16-24 lbs. 79-82.5   Delmarva Broilers U.S. Grade A The market tone was steady. Trading was limited. Supplies of all sizes were fair to moderate to satisfy current trade needs. In production areas, live supplies were moderate at 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

09/02/2009 Farm Bureau Market Report

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Grain & Soybean Date: September 2, 2009 Soybeans Local Elevators: (Sep) EAST AR:  n/a to - - - (NC) Summ. 933 to 951 River Elevators: (Sep) MISS: 1001 to 1006 ; AR & White 970 to 991 (NC) Summ. 935 to 974 Ark. Processor Bids: (Sep) n/a to - - -  (NC) 942 to 945 Memphis:  (Sep) 1014 to 1016 (NC)  974 to 976 Riceland Foods:  (NC) Stuttgart 945 ; Pendleton 951 ; West Memphis 974 Chicago Futures: Nov down 4 1/2 at  951   Jan '10  down  5 1/4  at  954 1/4   Mar '10 down 5 1/4  at  954   Jul '10 down 3 1/2  at  955   Nov '10 down 7  at  906   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed lower again today on improving weather outlook and light export activity. China has been absent from the buying scene this week and that has the trade nervous. November bounced off old support around $9.40 and held above that at the close. A lower close would signal additional near term losses with trendline support around $9.20 and flat support near $8.80. Corn ended the session narrowly mixed despite a bearish crop estimate by F.C. Stone. Stone had the corn yield at 162.7 bushels per acre and production just over 13 billion bushels. That size crop would tend to pressure the market. For now December is hanging tough around $3.20. Long term chart support at $2.90 could be the next downside target. Wheat Cash bid for September at Memphis  305 3/4 to 335 3/4; Bids to farmers at Local Elevators 401; River Elevators 412-435; Chicago Futures: Dec down  1 1/2  at  485 3/4    Mar '10 down 1 1/2  at  505 1/4    May '10 down  1 1/2  at  518    Jul '10 down  1 1/2  at  530 1/2    Sep '10 down  1 3/4  at  545 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for September at Memphis  556 to 561; Bids to farmers at River Elevators 471-558; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for September at Memphis   307 1/4 to 310 1/4;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  285 to 308 Chicago Futures: Dec unchanged    at  319 1/4    Mar '10 unchanged    at  332 1/2    Jul '10 down  1/4  at  349 3/4    Dec '10 unchanged    at  367 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat futures were lower again today. The market is oversold and due a rebound, but with a large spring wheat crop and the potential for a record large corn crop, the upside will be limited. Egypt included U.S. wheat in their weekly tender, but it wasn’t enough to provide much support. Cotton & Rice  Date: September 2, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 52 at  5289   Greenwood up  52 at 5289 New York Futures: Oct up  52  at  5689    Dec up  56  at  5891    Mar '10 up  57  at  6129    May '10 up  58  at  6272    - - -   - - -  at  - - -  This week's LDP rate for cotton is  5.87 cents   The estimate for next week is  5.94 cents Cotton Comment Cotton was a little higher as December continues to consolidate between 57 and 60 cents. Upside potential will be limited unless importers become more aggressive or this year’s crop proves to be disappointing. A weaker undertone in equity markets suggests economic activities are not real stable and more time is needed. Rice Long Grain Cash Bid for  Sep-Nov 1290/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Nov down  7 1/2  at  1385    Jan '10 down  7  at  1408    Mar '10 down  6  at  1430 1/2    May '10 down  6 1/2  at  1453 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures were lower for the second day in a row as the market followthrough on yesterday’s reversal. A late Arkansas harvest and prospects of a smaller long grain crop have the market nervous, but it will need a little more help to keep November moving toward the recent high. The international market has shown signs of weakening Vietnam 5% being quoted around $3.75. Big Thai intervention stocks remain a factor. Cattle & Hogs  Date: September 2, 2009 Cattle As reported by Federal-State Market News, receipts were 1,419 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly $2-5 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 106 to - - -   500 to 550 lbs. 94.50 to - - -   600 to 650 lbs. 92.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 90.25 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 93 to - - -  Medium & Large Frame 2   400 to 450 lbs. 83 to - - - Slaughter Cows, Boners 39   to   45 Light Weight 25 to 32 Bulls, Yield Grade   1   1400   to   2300 lbs.   51   to   57 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   were quoted   at   82   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 106 to 111.50   550 to 600 lbs. 102 to 107 Heifers 500 to 550 lbs. 97 to 104.50   600 to 650 lbs. 96 to 101.25 Chicago Futures: Live Cattle: Oct up 67 at 8677   Dec up 37 at 8680 Feeders: Oct up 170 at 9850   Nov up 160 at 9915 Cattle Comment Cattle futures recovered from early losses to close higher. Tight cattle supplies are keeping the floor in this market. October live cattle could test spring and summer support between $84.50 and $85.50. Feeder futures have support near $95. Hogs Peoria: were     steady   at   25   to   27 Chicago Futures: Oct down 67 at 4882   Dec down 62 at 4685 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs turned lower faced with renewed weakness in cutout values. Seasonal weakness in the cash market will keep a lid on prices. Resistance for October is at $49.50 and $50. Poultry  Date: September 2, 2009 Eggs New York:  Ex. Lg. 94-98; Lg. 92-96; Med. 69-73; Chicago:  Ex. Lg. 83-91; Lg. 81-89; Med. 61-69; Eastern Region Turkeys Hens: 8-16 lbs. 80-82 Toms: 16-24 lbs. 79-82   Delmarva Broilers U.S. Grade A The market tone was steady. Supplies of all sizes were fair to moderate to satisfy current trade needs. In production areas, live supplies were moderate at 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

09/01/2009 Farm Bureau Market Report

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Grain & Soybean Date: September 1, 2009 Soybeans Local Elevators: (Sep) EAST AR:  n/a to - - - (NC) Summ. 938 to 956 River Elevators: (Sep) MISS: 1010 to 1021 ; AR & White 979 to 1000 (NC) Summ. n/a to - - - Ark. Processor Bids: (Sep) n/a to - - -  (NC) 947 to 950 Memphis:  (Sep) 1015 1/2 to 1030 1/2 (NC)  978 1/2 to 980 1/2 Riceland Foods:  (NC) Stuttgart 950 ; Pendleton 956 ; West Memphis 979 Chicago Futures: Sep down 86 at  1014   Nov  down  24  at  955 1/2   Jan '10 down 21 3/4  at  959 1/2   Mar '10 down 20  at  959 1/4   Jul '10 down 16  at  958 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans were under pressure again today. Favorable growing conditions through out the Mid-west continue to weigh on the market. Today’s sharply lower trade suggests a potential retest of support around $9.40. Resistance just under $10.20 looks to be substantial. December corn moved below support at $3.20 today, opening the possibility of a move back to $2.90 or below. Corn rated good to excellent fell 1% this week, but the crop is still rated better than most years, so a record crop is still possible, especially considering the warm sunny weather the Mid-West is currently seeing. Resistance is located at $3.35 to $3.40. Wheat Cash bid for September at Memphis  293 1/4 to 357 1/4; Bids to farmers at Local Elevators 402; River Elevators 414-437; Chicago Futures: Sep down  11 3/4  at  459 1/4    Dec down 11 1/2  at  487 1/4    Mar '10 down  11 1/2  at  506 3/4    May '10 down  11 1/2  at  519 1/2    Jul '10 down  11 1/2  at  532    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for September at Memphis  550 to 556; Bids to farmers at River Elevators 471-558; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for September at Memphis   1015 1/2 to 1030 1/2;   new crop at Memphis   n/a to - - -; Bids to farmers at River Elevators  284 to 307 Chicago Futures: Sep down  14  at  312 1/4    Dec down  10 1/2  at  319 1/4    Mar '10 down  10  at  332 1/2    Jul '10 down  9 1/4  at  350    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat ended lower but December held above yesterday’s low of $4.81. Fundamentals, including big supplies in the U.S. and world, remain negative. Cotton & Rice  Date: September 1, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 139 at  5237   Greenwood up  139 at 5237 New York Futures: Oct down  139  at  5637    Dec down  139  at  5835    Mar '10 down  134  at  6072    May '10 down  130  at  6214    - - -   - - -  at  - - -  This week's LDP rate for cotton is  5.87 cents   The estimate for next week is  6.57 cents Cotton Comment Cotton closed lower but held above recent support. Technically, this suggests substantial support has developed in the 57 to 58 cents area considering the downturn in China’s stock market. Upside potential remains limited, as long as economic conditions are questionable. Rice Long Grain Cash Bid for  Sep/Oct/Nov 1298/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Sep down  14  at  1371 1/2    Nov down  15 1/2  at  1392 1/2    Jan '10 down  14  at  1415    Mar '10 down  13  at  1436 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 futures made a strong followthrough on Friday’s gains and closed sharply higher for the second day in a row. A retest of resistance at $14.25 to $13.30 is a good possibility as crop development pushes the harvest of the majority of the Southern crop a little later. A smaller long grain crop is anticipated, which with normal buying interest, would tighten stock positions. A weak monsoon season in India has been a positive factor in the world market. At the same time, big Thai intervention stocks continue to hang over the market. Cattle & Hogs  Date: September 1, 2009 Cattle As reported by Federal-State Market News, receipts were 1,879 head at sales in Fort Smith & Heber Springs.  Compared with last week, feeder steers sold unevenly, steers steady to $1 higher, heifers weak to $2 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 113.75 to - - -   500 to 550 lbs. 101.25 to - - -   600 to 650 lbs. 98 to - - -  Medium & Large Frame 2   400 to 450 lbs. 102 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 95 to - - -  Medium & Large Frame 2   400 to 450 lbs. 87.75 to - - - Slaughter Cows, Boners 40   to   47 Light Weight 25 to 32 Bulls, Yield Grade   1   1000   to   2100 lbs.   52   to   58, high dressing 58-58.50 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 106 to 111.50   650 to 700 lbs. 100 to 106.35 Heifers 500 to 550 lbs. 97 to 104.50   600 to 650 lbs. 96 to 101.25 Chicago Futures: Live Cattle: Oct down 57 at 8610   Dec down 40 at 8642 Feeders: Sep down 25 at 9700   Nov down 47 at 9755 Cattle Comment Cattle ended lower again today. Little improvement is expected until after Labor Day. October live cattle could test spring and summer support between $84.50 and $85.50. Feeder futures have support near $95. Hogs Peoria: were     steady   at   25   to   27 Chicago Futures: Oct up 135 at 4950   Dec up 125 at 4747 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs recovered a bit today. Seasonal weakness in the cash market will keep a lid on prices. Resistance for October is at $49.50 and $50. Poultry  Date: September 1, 2009 Eggs New York:  Ex. Lg. 94-98; Lg. 92-96; Med. 69-73; Chicago:  Ex. Lg. 83-91; Lg. 81-89; Med. 61-69; Eastern Region Turkeys Hens: 8-16 lbs. 80-82 Toms: 16-24 lbs. 79-82   Delmarva Broilers U.S. Grade A The market tone was steady. Supplies of all sizes were moderate to satisfy trade needs. In production areas, live supplies were moderate at 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