12/07/2009 Farm Bureau Market Report

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Grain & Soybean Date: December 07, 2009 Soybeans Local Elevators: (Dec) EAST AR:  1011 to 1029 (NC) Summ. 1025 to - - - River Elevators: (Dec) MISS: 1037 to 1058 ; AR & White 1014 to 1024 (NC) Summ. 1036 to 1073 Ark. Processor Bids: (Dec) 1019 to 1024  (NC) 1041 to 1055 Memphis:  (Dec) 1046 to 1053 (NC)  1001 1/2 to 1006 1/2 Riceland Foods:  (Dec) Stuttgart 1024 ; Pendleton 1029 ; West Memphis 1042 Chicago Futures: Jan '10 up 10 at  1053   Mar '10  up  10 1/2  at  1061   July '10 up 11  at  1075 3/4   Nov '10 up 5  at  1046 1/2   Jan '11 up 5 1/4  at  1055 3/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Outside markets took a backseat to seemingly insatiable Chinese demand for soybeans. Overnight strength in Chinese futures provided support for gains in U.S. futures with January closing above $10.50. The Chinese government provided subsidies on domestic supplies in an attempt to stem demand. They have purchased almost half of their annual needs and have shown little indication buying will halt. Even expectations of a record South American crop have yet to slow their buying. When it happens, U.S. beans could see a big dip, with many analysts projecting beans at $8 or lower later in the marketing year. Wheat Cash bid for December at Memphis  478 to 508; Bids to farmers at Local Elevators 510-514; River Elevators 503-537; Chicago Futures: Dec down  10 1/4  at  526 1/2    Mar '10 down 10  at  548    May '10 down  9 3/4  at  561    July '10 down  9 1/2  at  571 1/2    Dec '10 down  9 3/4  at  607 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for December at Memphis  660 to - - -; Bids to farmers at River Elevators 545-620; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for December at Memphis   358 3/4 to 359 3/4;   New crop at Memphis   341 1/2 to 381 1/2; Bids to farmers at River Elevators  338 to 369 Chicago Futures: Dec down  5  at  386 3/4    Mar '10 down  4 3/4  at  383 3/4    July '10 down  4 1/2  at  404 1/4    Dec '10 down  4 3/4  at  419 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was lower again today. Wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. Exports are down approximately 30% from a year ago. March is testing trendline support in the $5.50 area. Corn continued lower with March futures holding just above key support between $3.75 and $3.80. Even projected bad weather forecasts and further delays in the extended harvest season are not providing much support. The best thing going is the ethanol market where good margins are expected to push usage to the projected 4.2 billion bushel level or higher. Cotton & Rice  Date: December 07,2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 87 at  6994   Greenwood up  87 at 6994 New York Futures: Dec up  62  at  7083    Mar '10 up  87  at  7469    May '10 up  84  at  7579    July '10 up  55  at  7632    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton firmed slightly as the market looks at improving economic conditions and potential for tightening U.S. and world stocks. March futures are trading about 100 points below the recent contract high and continue to have an upward bias. Heading into next year, it appears that cotton plantings could increase, but strong soybean prices could limit acreage. Should the market determine additional acreage is needed, price will work higher. Rice Long Grain Cash Bid for  Dec 1440/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 down  11 1/2  at  1560    Mar '10 down  11  at  1588    May '10 down  12  at  1611 1/2    July '10 down  13  at  1634 1/2    - - -   - - -  at  - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice recovered a good portion of early declines but still ended the session lower. A smaller U.S. supply of long grain rice should provide upside potential especially when coupled with international factors. The Philippines have made several huge tenders, while India is expected to become an importer due to this year’s short crop. India will be more subtle than the Philippines in their buying. The U.S. has been shut out of any major sales which will be needed to keep mills operating. Resistance is the recent high near $15.75. Cattle & Hogs  Date: December 07, 2009 Cattle As reported by Federal-State Market News, receipts were 4420 head at sales in Ash Flat, Springdale and Ola.  Compared with last week, feeder steers sold $2 to $8 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 111.25 to - - -   500 to 550 lbs. 100.50 to - - -   600 to 650 lbs. 92.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 104.50 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 86.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 84.25 to - - - Slaughter Cows, Boners 38   to   44 Light Weight 30 to 37 Bulls, Yield Grade   1   1000   to   2100 lbs.   50   to   57.50 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 107.35 to 111.10   550 to 600 lbs. 103 to 104 Heifers 500 to 550 lbs. 93 to 96   550 to 600 lbs. 87 to 92.25 Chicago Futures: Live Cattle: Dec up 12 at 8112   Feb '10 up 10 at 8330 Feeders: Jan '10 down 50 at 9285   Mar '10 down 17 at 9395 Cattle Comment Cattle futures are still trying to recoup last week’s big losses. February live cattle still look weak technically, as prices have been unable to challenge Thursday’s high. Sharp losses in beef prices and indications of ample cattle supplies for the time being coupled to hold overhead pressure on prices. Hogs Peoria: were steady to $2     higher   at   36   to   - - - Chicago Futures: Dec up 105 at 6220   Feb '10 down 20 at 6655 Sheep St. Paul na/   at   - - -   to   - - - Hogs Comment Hogs moved higher in early dealings, but February was unable to challenge Thursday’s high of $67. That makes Thursday’s reversal still valid. Futures already hold a wide premium to cash prices and that could limit the upside. Longterm trendline support is down around $61. Poultry  Date: December 07, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 94-102; Eastern Region Turkeys Hens: 8-16 lbs. 84-89 Toms: 16-24 lbs. 84-89   Delmarva Broilers U.S. Grade A The market tone was steady. Demand following the weekend was fair to moderate. Supplies of all sizes were sufficient 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

12/04/2009 Farm Bureau Market Report

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Grain & Soybean Date: December 4, 2009 Soybeans Local Elevators: (Dec) EAST AR:  1001 to 1019 (NC) Summ. 1015 to - - - River Elevators: (Dec) MISS: 1028 to 1048 ; AR & White 1004 to 1014 (NC) Summ. 1027 to 1063 Ark. Processor Bids: (Dec) 1011 to 1014  (NC) 1031 to 1045 Memphis:  (Dec) 1040 to 1043 (NC)  1001 1/2 to - - - Riceland Foods:  (Dec) Stuttgart 1014 ; Pendleton 1019 ; West Memphis 1032 Chicago Futures: Jan '10 down 4 at  1043   Mar '10  down  4  at  1050 1/2   Jul '10 down 2 1/4  at  1064 3/4   Nov '10 down 5 1/2  at  1041 1/2   Jan '10 down 6  at  1050 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans traded a wide range as the market continues to consolidate after failing to followthrough on Tuesday’s move to a new recent high. A big sale to China limited losses. This sale came just as it looked as if export business had topped. In the long run outside will remain an influence but supply demand factors suggest more downside potential than upside. Corn closed lower with March below last week’s low. Support between $3.70 and $3.80 could be tested. A stronger $ added to the negative undertone. Wheat Cash bid for December at Memphis  478 to 517; Bids to farmers at Local Elevators 519-523; River Elevators 513-541; Chicago Futures: Dec down  13  at  536 3/4    Mar '10 down 13 1/2  at  558    May '10 down  13 1/2  at  570 3/4    Jul '10 down  13  at  581    Dec '10 down  13  at  617 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for December at Memphis  671 to - - -; Bids to farmers at River Elevators 552-627; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for December at Memphis   368 1/2 to - - -;   new crop at Memphis   346 1/2 to 386 1/2; Bids to farmers at River Elevators  344 to 374 Chicago Futures: Dec down  11 1/2  at  373 3/4    Mar '10 down  12 1/4  at  388 1/2    Jul '10 down  11 1/4  at  408 3/4    Dec '10 down  9 1/4  at  424 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat posted big losses again today. Wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. Exports are down approximately 30% from a year ago. March is testing trendline support which is currently just below today’s low of $5.57. Cotton & Rice  Date: December 4, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 42 at  6907   Greenwood down  42 at 6907 New York Futures: Dec down  34  at  7021    Mar '10 down  42  at  7382    May '10 down  51  at  7495    Jul '10 down  57  at  7577    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton moved a little lower despite continuing good economic news. Unemployment moved from 10.2% to 10% in the latest update. The impact was left in the $ which made a huge rebound moving above the critical 75 level. Profit taking in gold and other commodities resulted. Long term, cotton needs to improve relative to the grains complex to pull acres back into production. Rice Long Grain Cash Bid for  Dec 1451/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 up  10  at  1571 1/2    Mar '10 up  1/2  at  1599    May '10 up  1 1/2  at  1623 1/2    Jul '10 up  2  at  1425    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures hit a new high and closed steady to firm. The international market remains positive with substantial export potential providing support. The next technical objectives start at $16.35 as the market continues to retrace the 2008 to 2009 downturn. Cattle & Hogs  Date: December 4, 2009 Cattle As reported by Federal-State Market News, receipts were 11,335 head at sales in Arkansas this week.  Compared with last week, feeder steers sold mostly firm to $5 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 112.75 to - - -   500 to 550 lbs. 102.25 to - - -   600 to 650 lbs. 90.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 102 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 93 to - - -  Medium & Large Frame 2   400 to 450 lbs. 82.75 to - - - Slaughter Cows, Boners 38   to   43 Light Weight 25 to 35 Bulls, Yield Grade   1   1000   to   2100 lbs.   47   to   55, high dressing 55.50-62 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   remained   at   83   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 100 to 118   600 to 650 lbs. 90.50 to 99.50 Heifers 500 to 550 lbs. 85 to 99.50   600 to 650 lbs. 81 to 92 Chicago Futures: Live Cattle: Dec up 2 at 810   Feb '10 up 3 at 832 Feeders: Jan '10 up 25 at 9335   Mar '10 up 62 at 9412 Cattle Comment Cattle futures ended higher, but stayed well within yesterday’s wide trading range. These charts have taken on a very bearish appearance, with some contracts setting new contract lows. Sharp losses in beef prices and indications of ample cattle supplies for the time being coupled to hold overhead pressure on prices. Hogs Peoria: were     steady   at   34   to   36 Chicago Futures: Dec up 190 at 6115   Feb '10 up 145 at 6675 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures ended higher, but stayed well within yesterday’s trading range as well. Futures already hold a wide premium to cash prices and that could limit the upside. February charted a downward reversal yesterday, indicating that the market could be topping. Longterm trendline support is down around $61. Poultry  Date: December 4, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86-90.5 Toms: 16-24 lbs. 86-90.5   Delmarva Broilers U.S. Grade A The market tone was steady. Demand entering the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were sufficient 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. 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Progress Report: Our Work Around the Country for Farms, Food, and the Environment

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	Welcome to your special December edition of E-news. In this issue we wanted to say thank you for all your support and provide you with some good news about the work we have accomplished together in 2009. Please click here if you would like to view a version of this E-newsletter online.       PROGRESS REPORT: OUR WORK AROUND THE COUNTRY FOR FARMS, FOOD, AND THE ENVIRONMENT Helping Farmers and Communities Grow Local As the popularity of local food soars, meeting the demand requires more farms, more farmland, and more farmers growing local food. In 2009 we worked in several of the country’s most metropolitan areas to help local farms thrive. Learn about what we did to help farmers and communities grow local and tell us what you think! Growing a Future for Conservation This has has been an exciting year for farmers who provide environmental benefits through their land stewardship. Farmers now have more options for environmentally sound practices to protect our drinking water and wildlife habitat —and real progress has been made toward a legislative solution to address climate change in a way that rewards farmers who can help to clean up the atmosphere. Learn about what we did to grow a future for farm and farmland conservation and tell us what you think! Protecting Our Most Precious Resource: Our Working Lands Over the last three decades we have helped 27 states and hundreds of local communities create and improve programs to protect farmland from sprawling development. In 2009 we continued to press forward on national and regional levels to protect farmland from development forever. Learn about what we did this year to protect our nation’s working lands and tell us what you think!
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12/03/2009 Farm Bureau Market Report

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Grain & Soybean Date: December 03, 2009 Soybeans Local Elevators: (Dec) EAST AR:  1005 to 1023 (NC) Summ. 1019 to - - - River Elevators: (Dec) MISS: 1032 to 1052 ; AR & White 1008 to 1018 (NC) Summ. 1031 to 1067 Ark. Processor Bids: (Dec) 1015 to 1018  (NC) 1035 to 1049 Memphis:  (Dec) 10.47 to - - - (NC)  10.07 1/2 to - - - Riceland Foods:  (Dec) Stuttgart 1018 ; Pendleton 1023 ; West Memphis 1036 Chicago Futures: Jan '10 up 13 at  1047   Mar '10  up  13 1/2  at  1054 1/2   July '10 up 14 3/4  at  1067   Aug '10 up 14 1/4  at  1063 3/4   Nov '10 up 15 1/2  at  1047   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans posted gains, recouping big losses charted yesterday. The recent high of $10.78 now becomes the first level of resistance. The market appears to be overpriced based on fundamentals and could be subject to a quick set back. Export business, particularly from China, has supported the market, but an expected record large crop from South America will probably curtail demand for U.S. supplies. Wheat Cash bid for December at Memphis  486 1/2 to 531 1/2; Bids to farmers at Local Elevators 532-536; River Elevators 526-559; Chicago Futures: Dec down  4 3/4  at  549 3/4    Mar '10 down 4 1/2  at  571 1/2    May '10 down  4 1/4  at  584 1/4    July '10 down  4 1/4  at  594    Sept '10 down  4 3/4  at  607 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for December at Memphis  691 to - - -; Bids to farmers at River Elevators 575-650; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for December at Memphis   380 3/4 to 381 3/4;   New crop at Memphis   356 3/4 to 396 3/4; Bids to farmers at River Elevators  357 to 381 Chicago Futures: Dec down  6 1/2  at  385 1/4    Mar '10 down  5 3/4  at  400 3/4    July '10 down  5 1/4  at  420    Dec '10 down  4 1/4  at  433 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat turned lower. Without carryover strength from other grains, wheat can’t sustain upward momentum. Wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. December has resistance at the recent high of $5.81. Corn was lower as the funds took profits on long positions. The market can't seem to sustain upward momentum above $4. Weather should allow for continued harvest activities, however high moisture levels are a problem. Most farmers are waiting for moisture levels to fall before harvesting, and elevators are limiting the amount of high moisture grain they will take. Cotton & Rice  Date: December 03, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 67 at  6949   Greenwood up  67 at 6949 New York Futures: Dec up  87  at  7055    Mar '10 up  67  at  7424    May '10 up  63  at  7546    July '10 up  72  at  7634    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton turned higher today. March has resistance just under 76 cents, and support beginning at Friday’s low of 72.80 cents. With beans and corn at current price levels, cotton will have to exceed these levels to entice acreage. Rice Long Grain Cash Bid for  Dec 1450/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan up  29 1/2  at  1570 1/2    Mar up  29 1/2  at  1598 1/2    May up  27 1/2  at  1622    July up  26 1/2  at  1645 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures posted big gains today. The market has upside potential if the international situation remains volatile. The Philippines have issued a number of big import tenders which have kept the international market on edge. India has tendered for rice, but so far the amount is relatively small. Thailand continues to control a large amount of intervention stocks which could be released into the market at some point. U.S. milled prices remain slightly above other offerings and as of yet little new business has resulted. Cattle & Hogs  Date: December 03, 2009 Cattle As reported by Federal-State Market News, receipts were 3659 head at sales in Charlotte, Ratcliff and Green Forest.  Compared with last week, feeder steers sold firm to $5 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 108.50 to - - -   500 to 550 lbs. 95.50 to - - -   600 to 650 lbs. 91.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. 97 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 85.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 83.75 to - - - Slaughter Cows, Boners 37   to   42 Light Weight 29 to 32 Bulls, Yield Grade   1   1000   to   2100 lbs.   49   to   54 Midwest Steers   were steady   at   82   to   - - - Panhandle Steers   were steady to $1 lower   at   83   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 107.50 to 115.50   550 to 600 lbs. 102.25 to 111.25 Heifers 500 to 550 lbs. 90 to 99.50   550 to 600 lbs. 86 to 93.75 Chicago Futures: Live Cattle: Dec down 130 at 8080   Feb '10 down 137 at 8290 Feeders: Jan '10 down 85 at 9310   Mar '10 down 97 at 9350 Cattle Comment Cattle futures were mostly lower. These charts have taken on a very bearish appearance, with some contracts setting new contract lows. Sharp losses in beef prices and indications of ample cattle supplies for the time being coupled to hold overhead pressure on prices. Hogs Peoria: were $1 lower to $3     higher   at   34   to   36 Chicago Futures: Dec down 42 at 5925   Feb '10 down 135 at 6530 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hog futures were lower, mostly on profit taking on long positions. Futures already hold a wide premium to cash prices and that could limit the upside. Poultry  Date: December 03, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86 - 90.5 Toms: 16-24 lbs. 86 - 90.5   Delmarva Broilers U.S. Grade A The market tone was steady. Demand approaching the weekend was fair to moderate. Supplies of all sizes were no more than adequate 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

12/02/2009 Farm Bureau Market Report

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Grain & Soybean Date: December 2, 2009 Soybeans Local Elevators: (Dec) EAST AR:  992 to 1010 (NC) Summ. 1001 to - - - River Elevators: (Dec) MISS: 1021 to 1039 ; AR & White 995 to 1006 (NC) Summ. 1018 to 1054 Ark. Processor Bids: (Dec) 1002 to 1005  (NC) 1021 to 1036 Memphis:  (Dec) 1029 to 1034 (NC)  991 1/2 to - - - Riceland Foods:  (Dec) Stuttgart 1005 ; Pendleton 1010 ; West Memphis 1023 Chicago Futures: Jan '10 down 25 1/2 at  1034   Mar '10  down  25  at  1041   Jul '10 down 23 1/4  at  1052 1/4   Aug '10 down 22 1/4  at  1049 1/2   Nov '10 down 17  at  1031 1/2   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment The selloff that began yesterday afternoon continued today in the soybean pit. Profit taking on long positions resulted in sharp losses. There is no firm confirmation of a top, yet, though. The recent high of $10.78 now becomes the first level of resistance. The market appears to be overpriced based on fundamentals and could be subject to a quick set back. Export business, particularly from China, has supported the market, but an expected record large crop from South America will probably curtail demand for U.S. supplies. Corn was lower as well. The market can't seem to sustain upward momentum above $4. Weather should allow for continued harvest activities, however high moisture levels are a problem. Most farmers are waiting for moisture levels to fall before harvesting, and elevators are limiting the amount of high moisture grain they will take. Wheat Cash bid for December at Memphis  491 to 536; Bids to farmers at Local Elevators 536-540; River Elevators 530-563; Chicago Futures: Dec down  8  at  554 1/2    Mar '10 down 8  at  576    May '10 down  8  at  588 1/2    Jul '10 down  7 1/2  at  598 1/4    Sep '10 down  8  at  612 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for December at Memphis  690 to 703; Bids to farmers at River Elevators 583-658; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for December at Memphis   384 1/2 to 391 1/2;   new crop at Memphis   361 1/2 to 401 1/2; Bids to farmers at River Elevators  360 to 392 Chicago Futures: Dec down  8  at  391 3/4    Mar '10 down  8  at  406 1/2    Jul '10 down  7 1/2  at  425 1/4    Dec '10 down  6 1/2  at  438    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat turned lower. Without carryover strength from other grains, wheat can’t sustain upward momentum. Wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. December has resistance at the recent high of $5.81. Cotton & Rice  Date: December 2, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 34 at  6882   Greenwood up  34 at 6882 New York Futures: Dec up  3  at  6968    Mar '10 up  9  at  7357    May '10 up  15  at  7483    Jul '10 up  13  at  7562    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton was also lower. March has resistance just under 76 cents, and support beginning at Friday’s low of 72.80 cents. With beans and corn at current price levels, cotton will have to exceed these levels to entice acreage. Rice Long Grain Cash Bid for  Dec 1421/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 down  1 1/2  at  1541    Mar '10 down  1 1/2  at  1569    May '10 down  1  at  1594 1/2    Jul '10 unchanged    at  1619    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures ended a bit higher and remained in a consolidation pattern that has contained trading for about a month. The market has upside potential if the international situation remains volatile. The Phillipines have issued a number of big import tenders which have kept the international market on edge. In addition, India is expected to need to import rice at some point. However, they are expected to take a more subtle approach than the Phillipines. Thailand continues to control a large amount of intervention stocks which could be released into the market at some point. U.S. milled prices remain slightly above other offerings and as of yet little new business has resulted. Cattle & Hogs  Date: December 2, 2009 Cattle As reported by Federal-State Market News, receipts were 1,584 head at sales in Fort Smith & Heber Springs.  Compared with last week, feeder steers sold $2-4 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 110.75 to - - -   500 to 550 lbs. 99.50 to - - -   600 to 650 lbs. 90.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.75 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 92.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 82.50 to - - - Slaughter Cows, Boners 37   to   42.50 Light Weight 26 to 32 Bulls, Yield Grade   1   1000   to   2100 lbs.   50   to   57.50, high dress 58-62 Midwest Steers   were $1 lower   at   82   to   - - - Panhandle Steers   were quoted   at   83   to   84 Oklahoma City Feeders Steers 500 to 550 lbs. 107.50 to 115.50   600 to 650 lbs. 88 to 97 Heifers 550 to 600 lbs. 86 to 93.75   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Dec down 45 at 8210   Feb '10 down 55 at 8427 Feeders: Jan '10 up 47 at 9395   Mar '10 up 72 at 9447 Cattle Comment Cattle futures ended mixed. Expectations for larger market ready cattle supplies and weaker beef demand continue to limit the upside potential of the market. Live December set a new contract low and February has nearby support at $84.60. Hogs Peoria: were $1     higher   at   33   to   35 Chicago Futures: Dec up 45 at 5967   Feb '10 down 30 at 6665 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were mixed. Futures already hold a wide premium to cash prices and that could limit the upside. Friday’s high of $68.05 is the first level of resistance for February. Poultry  Date: December 2, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-105; Eastern Region Turkeys Hens: 8-16 lbs. 86-89 Toms: 16-24 lbs. 86-89   Delmarva Broilers U.S. Grade A The market tone was steady. Demand was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were adequate 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

12/01/2009 Farm Bureau Market Report

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Grain & Soybean Date: December 01, 2009 Soybeans Local Elevators: (Dec) EAST AR:  1018 to 1036 (NC) Summ. 1027 to - - - River Elevators: (Dec) MISS: 1040 to 1065 ; AR & White 1021 to 1031 (NC) Summ. 1045 to 1080 Ark. Processor Bids: (Dec) 1031 to 1032  (NC) 1048 to 1062 Memphis:  (Dec) 1059 1/2 to 1061 1/2 (NC)  1008 1/2 to - - - Riceland Foods:  (Dec) Stuttgart 1031 ; Pendleton 1036 ; West Memphis 1049 Chicago Futures: Jan '10 down 1 at  1059 1/2   Mar '10  unchanged    at  1066   Jul '10 up 1  at  1075 1/2   Nov '10 up 3 1/2  at  1048 1/2   Jan '10 down 2 1/4  at  1054 1/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans rallied in early dealings on active fund buying to kick off the month, but quickly retreated after nearby December closed a chart gap left in June. That 6 month high of $10.78 now becomes the first level of resistance. The market appears to be overpriced based on fundamentals and could be subject to a quick set back. December corn failed to hold above $4 and retreated from early highs. Active fund buying provided support early. Weather should allow for continued harvest activities, however high moisture levels are a problem. Most farmers are waiting for moisture levels to fall before harvesting, and elevators are limiting the amount of high moisture grain they will take. Wheat Cash bid for December at Memphis  489 to 554 1/2; Bids to farmers at Local Elevators 544-548; River Elevators 538-571; Chicago Futures: Dec down  5  at  562 1/2    Mar '10 down 4 3/4  at  584    May '10 down  4  at  596 1/2    Jul '10 down  4 1/2  at  605 3/4    Sep '10 down  4  at  620 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for December at Memphis  687 to 733; Bids to farmers at River Elevators 598-673; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for December at Memphis   399 3/4 to 401 1/2;   new crop at Memphis   368 1/2 to 408 1/2; Bids to farmers at River Elevators  368 to 400 Chicago Futures: Dec down  3  at  399 3/4    Mar '10 down  3  at  414 1/2    Jul '10 down  3  at  432 3/4    Dec '10 down  4  at  444 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat turned lower. Without carryover strength from other grains, wheat can’t sustain upward momentum. Wheat is plentiful worldwide and the recent rally has priced US wheat out of the market for most buyers. December has resistance at the recent high of $5.81. Cotton & Rice  Date: December 01, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 120 at  6848   Greenwood up  120 at 6848 New York Futures: Dec down  110  at  6965    Mar '10 down  120  at  7348    May '10 down  117  at  7468    Jul '10 down  103  at  7549    - - -   - - -  at  - - -  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton was also lower. March has resistance just under 76 cents, and support beginning at Friday’s low of 72.80 cents. With beans and corn at current levels, cotton will have to exceed these levels to entice acreage. Rice Long Grain Cash Bid for  Dec 1422/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Jan '10 up  12  at  1542 1/2    Mar '10 up  12 1/2  at  1570 1/2    Jul '10 up  11  at  1619    Sep '10 down    at  1428    - - - unchanged  - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice futures posted strong gains, but remain in a consolidation pattern that has contained trading for about a month. The market has upside potential if the international situation remains volatile. The Phillipines have issued a number of big import tenders which have kept the international market on edge. In addition, India is expected to need to import rice at some point. However, they are expected to take a more subtle approach than the Phillipines. Thailand continues to control a large amount of intervention stocks which could be released into the market at some point. U.S. milled prices remain slightly above other offerings and as of yet little new business has resulted. Cattle & Hogs  Date: December 01, 2009 Cattle As reported by Federal-State Market News, receipts were 1,584 head at sales in Fort Smith & Heber Springs.  Compared with last week, feeder steers sold $2-4 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 110.75 to - - -   500 to 550 lbs. 99.50 to - - -   600 to 650 lbs. 90.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.75 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 92.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. 82.50 to - - - Slaughter Cows, Boners 37   to   42.50 Light Weight 26 to 32 Bulls, Yield Grade   1   1000   to   2100 lbs.   50   to   57.50, high dressing 58-62 Midwest Steers   were $1.50-1 lower   at   83   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 107.50 to 115.50   600 to 650 lbs. 88 to 97 Heifers 550 to 600 lbs. 86 to 91.25   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Dec down 65 at 8255   Feb '10 down 90 at 8482 Feeders: Jan '10 up 52 at 9347   Mar '10 steady at 9375 Cattle Comment Cattle futures ended mixed. Expectations for larger market ready cattle supplies and weaker beef demand continue to limit the upside potential of the market. Live December set a new contract low and February has nearby support at $84.60. Hogs Peoria: were $2     higher   at   32   to   34 Chicago Futures: Dec up 62 at 5922   Feb '10 up 7 at 6695 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures turned were higher today. Futures already hold a wide premium to cash prices and that could limit the upside. Friday’s high of $68.05 is the first level of resistance for February. Poultry  Date: December 01, 2009 Eggs New York:  Ex. Lg. 127-131; Lg. 125-129; Med. 101-105; Chicago:  Ex. Lg. 121-129; Lg. 119-127; Med. 97-101; Eastern Region Turkeys Hens: 8-16 lbs. 87-88 Toms: 16-24 lbs. 87-88   Delmarva Broilers U.S. Grade A The market tone was steady. Demand was light to fair with trading usually limited to regular commitments. Supplies of all sizes were sufficient to satisfy current trade needs. In production areas live supplies were moderate at 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