01/08/2010 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 08, 2010 Soybeans Local Elevators: (Jan) EAST AR:  985 to 999 (NC) Summ. 914 to 959 River Elevators: (Jan) MISS: 1005 to 1041 ; AR & White 988 to 1004 (NC) Summ. 941 to 972 Ark. Processor Bids: (Jan) 993 to 1002  (NC) 939 to 952 Memphis:  (Jan) 1042 to 1043 (NC)  979 to - - - Riceland Foods:  (Jan) Stuttgart 1002 ; Pendleton 999 ; West Memphis 1032 Chicago Futures: March down 4 at  1022   May  down  3 1/4  at  1027 3/4   July down 3 1/4  at  1032 1/4   Sept down 2 1/2  at  1012 1/2   Nov down 3/4  at  999   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans retraced a portion of early declines but still ended the session a little lower. While everyone anticipates increased export projections in next week’s report, there is growing concern that China will switch to South America soybeans and likely cancel some purchases from the U.S. A very good crop is developing in South America and most analysts expect the production estimate to be raised in the January 12 report. March futures bounced off trendline support around $10.13. Inability to hold this level would be bearish. Wheat Cash bid for January at Memphis  508 1/2 to 538 1/2; Bids to farmers at Local Elevators 529-533; River Elevators 527-556; Chicago Futures: Mar up  10 3/4  at  568 1/2    May up 10 3/4  at  580 3/4    July up  1 1/2  at  590 1/2    Sept up  10 3/4  at  604 1/2    Dec up  11 3/4  at  627 1/2    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  755 to - - -; Bids to farmers at River Elevators 614-689; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   419 to - - -;   New crop at Memphis   375 3/4 to 435 3/4; Bids to farmers at River Elevators  387 to 409 Chicago Futures: Mar up  5 1/2  at  423    May up  5 1/4  at  433 1/4    Sept up  5 3/4  at  445 3/4    Dec up  5 1/2  at  449    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat posted strong gains today. A decline in winter wheat seedings is expected in Tuesday’s report, but it has been expected for some time and should be about factored into prices at this point. U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business. Corn finished on a strong note with gains of 4 to 6 cents . March closed near the high of the day and just under key resistance. A close above $4.25 would be positive. Little consensus has developed with regard to USDA’s production estimate next week. Potential losses from unharvested corn range as high as 100 million bushels. Cotton & Rice  Date: January 08, 2010 Cotton Spot Price, Grade 41 Staple 34: Memphis down 45 at  6844   Greenwood down  45 at 6844 New York Futures: Mar down  45  at  7244    May down  46  at  7361    July down  35  at  7427    Oct down  28  at  7397    Dec down  38  at  7414  This week's LDP rate for cotton is  0 cents   The estimate for next week is  1.02 cents Cotton Comment Cotton was lower again today as concerns about Chinese demand increased. The market was not responsive to a weaker dollar after China raised interest rates earlier in the week. Long term bigger U.S. plantings will be needed as stocks worldwide continue to tighten. March futures could work toward support at 71.7 cents or perhaps even 70.2 cents. Rice Long Grain Cash Bid for  Jan/Feb 1365/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar down  5 1/2  at  1495 1/2    May down  6 1/2  at  1520 1/2    July down  7  at  1543 1/2    Sept down  1/2  at  1394 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice continues in a consolidation pattern with March support around $14.50. There has been little fresh news to give the market direction. Any adjustments in the U.S. supply demand report should be minor. Cattle & Hogs  Date: January 08, 2010 Cattle As reported by Federal-State Market News, receipts were 2,515 head at sales in Arkansas this week.  Compared with last week, feeder steers have no recent comparison . Steers:  Medium & Large Frame 1   400 to 450 lbs. 101.50 to - - -   500 to 550 lbs. 91.50 to - - -   600 to 650 lbs. 86.75 to - - -  Medium & Large Frame 2   450 to 500 lbs. 84 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 80 to - - -  Medium & Large Frame 2   450 to 500 lbs. 75 to - - - Slaughter Cows, Boners 42   to   48 Light Weight 26 to 31 Bulls, Yield Grade   1   1000   to   2100 lbs.   52   to   57 Midwest Steers   were $1 higher   at   85   to   - - - Panhandle Steers   were 50¢ to $1 lower   at   83   to   83.50 Oklahoma City Feeders Steers 500 to 550 lbs. 99 to 113.50   550 to 600 lbs. 94.50 to 109 Heifers 500 to 550 lbs. 83 to 96   550 to 600 lbs. 81.5 to 96.50 Chicago Futures: Live Cattle: Feb down 10 at 8582   April up 35 at 8980 Feeders: Mar down 17 at 9665   May down 17 at 9860 Cattle Comment Cattle futures ended mostly lower. A lack of cash trade added to the negative undertone. A close below $85.35 would open the market to further losses. Resistance is at the recent high of $86.80. Hogs Peoria: were     steady   at   40   to   42 Chicago Futures: Feb up 15 at 6725   April up 52 at 7142 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment February hogs posted losses today. Yesterday’s high just above $68 could prove to be tough resistance. Recent weather woes will bring a backload of hogs to market next week, and that is adding pressure. Poultry  Date: January 08, 2010 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 87-91; Chicago:  Ex. Lg. 108-116; Lg. 106-114; Med. 74-82; Eastern Region Turkeys Hens: 8-16 lbs. 78.38 Toms: 16-24 lbs. 78.38   Delmarva Broilers U.S. Grade A The market tone was fully steady to firm. Demand was moderate to good entering the weekend. Supplies of all sizes were adequate to closely balanced. 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 2010 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

Bi-Weekly Market Briefings for 01/07/2010

Click here to view this report online.

ARKANSAS FARM BUREAU ELECTRONIC NEWSLETTER Bi-Weekly Market Briefings for 01-07-10 -------------------------------------------------------------------------- http://www.arfb.com An influx of money from index funds moved soybeans sharply higher in the first session of 2010. Gains were pared during the session, but the market may still test old-crop resistance at $10.70–$10.75. New-crop November was a little more hesitant after hitting resistance at $10.35. The recent high at $10.60 could be the high-water mark, but it depends on index funds, the dollar and outside markets like crude oil. On the fundamental side, Chinese demand could dry up over the next several months as a huge South American crop becomes available. U.S. export sales are more than 85 percent of USDA’s projection, and we are just a third of the way through the marketing year. Producers should consider initial pricing of 2010 soybeans with November at, or above, $10; add to that if November tests $10.50 or higher. Corn started 2010 on solid ground. However, that might be a slight exaggeration, as several million acres in the Midwest remain unharvested and covered by snow. Losses on the remaining corn could be as high as 100 million bushels. In spite of that loss, there will be an ample amount of corn this year. The question is: what will be needed in the future as high crude oil prices keep ethanol profitable? USDA projects 4.2 billion bushels of corn will be used for ethanol this year, more if any idled plants come back online. Long-term, we could see the market bid to keep corn acres or add to them. Currently, old crop has stiff resistance just above $4.20, while new-crop September made a brief push above $4.45. Consecutive closes above these levels would signal another move higher. For initial 2010 pricing, consider September corn at $4.30 or higher. Wheat made the most dramatic push following the New Year’s holiday. Most of the buying was from index funds, which considered wheat underpriced relative to corn and soybeans, and therefore, a good investment. In the real world, unfortunately, U.S. wheat is not competitive in the global market, and export demand is next to nothing. Producers should take advantage of any upturn caused by those recent purchases. July resistance ranges from $5.85–$6.20. So far this year, cotton has stayed in range. Old-crop cotton made a push at the upper end, but has not had enough buying support to get it done. Increased export demand suggests Chinese supplies may be tighter than originally thought. An improving global economy could spark renewed interest in tightening ’09 stocks. A March close above 77 cents would signal another leg up. New-crop December has been a little slower in trading, toward the November high of 78.25 cents. It will probably take more to bring additional acres in 2010. Rice found trendline support after breaking $14.50. A short crop in India and typhoon damage in the Philippines rallied futures to $15.98 in mid-December. The Philippines rushed to make purchases with weekly tenders that fired the market. India quelled expectations for another runaway climb by indicating they would use reserves instead of buying on the world market. That sent futures sharply lower, with January dropping more than $1.50 in six trading days. The market appears to be settling on a trendline around $14.30 with good support. Look for trade to remain within this wide range. March futures are trading between $14.50–$16.27 with resistance around $15.25. Live cattle futures started 2010 by charting a huge downward reversal, giving the charts a decidedly bearish appearance. The Jan. 4 high near $87 may prove to be key resistance for February. A close below $85.35 would signal further declines, beginning with a retest of support at $84.55. Movement has been somewhat sluggish the past few weeks because of holiday slowdowns in slaughter schedules. However, recent firmness in the wholesale beef market has kept prices in the “steady to a dollar higher” range. November placements were reported to be down 8 percent from a year ago, which was a larger-than- expected decline. Growth in hog futures stalled during the holidays, with the market moving mostly sideways. However, the first few days of 2010 saw a renewed buying interest that boosted prices back toward recent highs. February has resistance at $68.05. Last week, USDA projected a larger-than-expected pig crop for the last quarter of 2009. That could limit the upside somewhat. In poultry, the estimated broiler slaughter for the week ending Jan. 2 was 126,980,000. Actual slaughter for the week ending Dec. 26 was 126,587,000. For heavy-type hens, estimated slaughter for the week ending Jan. 2 was 916,000. Actual slaughter for the week ending Dec. 26 was 897,000. For light-type hens: estimated slaughter for the week ending Jan. 2 was 1,401,000. Actual slaughter for the week ending Dec. 26 was 1,097,000. The total slaughter for the week ending Jan. 2 was 129,297,000; for the week ending Dec. 26, 128,581,000. Contact: • Gene Martin (501) 228-1330, gene.martin@arfb.com . • Brandy Carroll (501) 228-1268, brandy.carroll@arfb.com . • Bruce Tencleve (501) 228-1856, bruce.tencleve@arfb.com . • Matt King (501) 228-1297, matt.king@arfb.com . -------------------------------------------------------------------------- We promised you your own bank, and here it is - www.farmbureaubank.com Created by members who understand your financial needs like no other bank can. Backed by the strength, stability and leadership of Farm Bureau. Go ahead. See what better banking is all about. Call 1-800-492-FARM Personal Bankers are available Monday - Friday, 7am to 7pm CST -------------------------------------------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at: mktrpt@arfb.com -------------------------------------------------------------------------- ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com Arkansas Farm Bureau 10720 Kanis Road Little Rock, AR 72211 501-224-4400 Copyright 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

01/07/2010 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 07, 2010 Soybeans Local Elevators: (Jan) EAST AR:  989 to 1003 (NC) Summ. 915 to 960 River Elevators: (Jan) MISS: 1009 to 1045 ; AR & White 992 to 1008 (NC) Summ. 942 to 973 Ark. Processor Bids: (Jan) 997 to 1006  (NC) 940 to 953 Memphis:  (Jan) 1045 to - - - (NC)  979 3/4 to - - - Riceland Foods:  (Jan) Stuttgart 1006 ; Pendleton 1003 ; West Memphis 1036 Chicago Futures: Mar down 33 at  1026   May  down  32  at  1031   July down 31 1/4  at  1035 1/2   Sept down 26  at  115   Nov down 25  at  999 3/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans mad a sharp pullback after Chinese interest rate hikes prompted strength in the dollar. March futures moved near key support around $10.25, while November closed right on $10. Further declines could be bearish for the market. However, funds and outside market movement will remain a major factor. Wheat Cash bid for January at Memphis  497 3/4 to 527 3/4; Bids to farmers at Local Elevators 518-522; River Elevators 517-545; Chicago Futures: Mar down  9 1/2  at  557 3/4    May down 9 3/4  at  570    July down  9 1/2  at  580    Sept down  9  at  593 3/4    Dec down  9 1/4  at  615 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  746 to - - -; Bids to farmers at River Elevators 604-679; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   407 1/2 to - - -;   New crop at Memphis   370 to 425; Bids to farmers at River Elevators  381 to 403 Chicago Futures: Mar down  4 1/4  at  417 1/2    May down  4  at  428    Sept down  4 3/4  at  440    Dec down  5 1/4  at  443 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat ended higher today supported by fund buying. U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business. Corn declined slightly today, but remained firm relative to soybeans. March again failed to move above $4.25 but held fairly close to that level at day’s end. The extreme weather conditions are a positive for corn since it means more livestock feed will be consumed. Cotton & Rice  Date: January 07, 2010 Cotton Spot Price, Grade 41 Staple 34: Memphis down 66 at  6889   Greenwood down  66 at 6889 New York Futures: Mar down  66  at  7289    May down  66  at  7407    July down  63  at  7462    Oct down  52  at  7425    Dec down  34  at  7452  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton closed lower and at the lowest point in almost 2 months. Higher Chinese interest rates could slow recovery and impact their textile industry. That in turn will impact their import demand. The question is whether the current price ratio corn to cotton or soybeans to cotton will allow for additional U.S. acreage in 2010. Rice Long Grain Cash Bid for  Jan/Feb 1371/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar down  8 1/2  at  1501    May down  8 1/2  at  1527    July down  7  at  1550 1/2    Sept down  4 1/2  at  1395    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice, like other grains and soybeans, were pressured by outside factors. Small across the board declines were registered in today’s trading. There was little fresh news to give the market direction. Current resistance is just under $15. Fundamentals are unchanged with the Philippines having offered several big tenders to cover projected needs of over 2.2 million metric tonnes. India may still need to import rice, but it will be later and a lot more subtle than what we’ve seen from the Philippines. Cattle & Hogs  Date: January 07, 2010 Cattle As reported by Federal-State Market News, receipts were 762 head at sales in Charlotte.  Compared with last week, feeder steers information is unavailable . Steers:  Medium & Large Frame 1   400 to 450 lbs. 102.75 to - - -   550 to 600 lbs. 90 to - - -   600 to 650 lbs. 94.50 to - - -  Medium & Large Frame 2   400 to 450 lbs. - - - to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 86 to - - -  Medium & Large Frame 2   400 to 450 lbs. 74.50 to - - - Slaughter Cows, Boners 41   to   45 Light Weight - - - to - - - Bulls, Yield Grade   1-2   1000   to   2100 lbs.   52.50   to   56 Midwest Steers   were $1 higher   at   84   to   - - - Panhandle Steers   were $1 higher   at   84   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 100 to 103   550 to 600 lbs. 99 to 104 Heifers 500 to 550 lbs. 90.50 to 94.75   550 to 600 lbs. 90 to 93 Chicago Futures: Live Cattle: Feb down 2 at 8592   April down 20 at 8945 Feeders: Mar up 7 at 9682   May up 10 at 9877 Cattle Comment Cattle futures ended mixed. February failed near resistance at $86.80 before closing lower. A lack of cash trade added to the negative undertone. A close below $85.35 would open the market to further losses. Hogs Peoria: were     steady   at   40   to   42 Chicago Futures: Feb up 52 at 6710   April up 15 at 7090 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment February hogs set a new high for the upmove before closing near the bottom of the day’s trading range. Technical buying, strength in cutout values and weather concerns all added support. Poultry  Date: January 07, 2010 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 87-91; Chicago:  Ex. Lg. 108-116; Lg. 106-114; Med. 74-82; Eastern Region Turkeys Hens: 8-16 lbs. 78.38 Toms: 16-24 lbs. 78.38   Delmarva Broilers U.S. Grade A The market tone was fully steady to firm. Retail and food service demand was moderate to good approaching the weekend. Supplies of all sizes were adequate to close balance to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com Arkansas Farm Bureau 10720 Kanis Road Little Rock, AR 72211 501-224-4400 Copyright 2010 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

01/06/2010 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 06, 2010 Soybeans Local Elevators: (Jan) EAST AR:  1022 to 1036 (NC) Summ. 940 to 980 River Elevators: (Jan) MISS: 1040 to 1071 ; AR & White 1025 to 1039 (NC) Summ. 962 to 995 Ark. Processor Bids: (Jan) 1015 to 1036  (NC) 965 to 972 Memphis:  (Jan) 1077 to - - - (NC)  1004 3/4 to 1009 3/4 Riceland Foods:  (Jan) Stuttgart - - - ; Pendleton - - - ; West Memphis - - - Chicago Futures: Mar down 2 at  1059   May  down  1 3/4  at  1063   July down 1 3/4  at  1066 3/4   Sept unchanged 0  at  1041   Nov up 1 3/4  at  1024 3/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans were slightly lower for the day as a big South American crop limited upside potential. Even a weaker dollar and stronger crude oil were not enough to generate any substantial upward momentum. For now, the market seems content to hold just below major resistance, $10.70 for January and March and $10.55 for November. Wheat Cash bid for January at Memphis  507 1/4 to 537 1/4; Bids to farmers at Local Elevators 528-532; River Elevators 521-555; Chicago Futures: Mar up  14 1/4  at  567 1/4    May up 14 1/4  at  579 3/4    July up  14  at  589 1/2    Sept up  13 3/4  at  602 3/4    Dec up  13 3/4  at  625    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  757 to - - -; Bids to farmers at River Elevators 613-688; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   405 3/4 to 409 3/4;   New crop at Memphis   374 3/4 to 429 3/4; Bids to farmers at River Elevators  382 to 404 Chicago Futures: Mar up  3  at  421 3/4    May up  3  at  432    Sept up  3  at  444 3/4    Dec up  3 1/2  at  448 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Corn was higher again, with weather providing support. Next week’s report may or may not answer the question regarding the size of the ’09 crop. Approximately 4 million acres will not be harvested until spring. Actual crop losses are expected to be 50 to 100 million bushels. In addition, low test weighs and quality problems will need to be factored in. March is testing major support between $4.20 and $4.25 and could move higher with a close above this level. Wheat ended higher today supported by fund buying. U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business. Cotton & Rice  Date: January 06, 2010 Cotton Spot Price, Grade 41 Staple 34: Memphis up 43 at  6955   Greenwood up  43 at 6955 New York Futures: Mar up  43  at  7355    May up  43  at  7473    July up  31  at  7525    Oct up  32  at  7477    Dec up  25  at  7486  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton firmed slightly after suffering huge losses yesterday. The market responded to big holiday week gains in China with a big upturn on Monday. Today, there was not much new to give the market direction. However, the market held key support. In ability to move toward recent resistance would be bearish. Rice Long Grain Cash Bid for  Jan/Feb - - -  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar unchanged  0  at  1509 1/2    May up  1  at  1535 1/2    July down  1/2  at  1557 1/2    Sept down  12 1/2  at  1399 1/2    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was narrowly mixed with little fresh news to give the market direction. Current resistance is just under $15. Fundamentals are unchanged with the Philippines having offered several big tenders to cover projected needs of over 2.2 million metric tonnes. India may still need to import rice, but it will be later and a lot more subtle than what we’ve seen from the Philippines. Cattle & Hogs  Date: January 06, 2010 Cattle As reported by Federal-State Market News, receipts were 919 head at sales in Conway and Pocahontas.  Compared with last week, feeder steers sold steady to $2 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 107 to - - -   500 to 550 lbs. 95.50 to - - -   600 to 650 lbs. 91 to - - -  Medium & Large Frame 2   400 to 450 lbs. 88 to - - - Heifers:  Medium & Large Frame 1   500 to 550 lbs. 82 to - - -  Medium & Large Frame 2   400 to 450 lbs. 78 to - - - Slaughter Cows, Boners 42   to   47.50 Light Weight 28 to 33 Bulls, Yield Grade   1   1400   to   2300 lbs.   56   to   65 Midwest Steers   were   at   83   to   - - - Panhandle Steers   were   at   83   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 102.50 to 113.50   550 to 600 lbs. 97 to 108.35 Heifers 500 to 550 lbs. 91 to 94   550 to 600 lbs. 90.50 to 92.35 Chicago Futures: Live Cattle: Feb down 37 at 8595   April down 10 at 8965 Feeders: Mar down 17 at 9675   May down 7 at 9867 Cattle Comment Cattle futures ended lower but traded well within yesterday’s wide trading range. The recent high near $87 could prove to be key resistance. A close below $85.35 would open the market to further losses. Hogs Peoria: were steady to $4     higher   at   40   to   42 Chicago Futures: Feb down 102 at 6657   April down 57 at 7075 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs turned lower, and this week’s highs between $67.80 and $67.85 could prove to be tough resistance. Profit taking on recent gains sparked today’s selling. Poultry  Date: January 06, 2010 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 88-92; Chicago:  Ex. Lg. 108-116; Lg. 106-114; Med. 74-82; Eastern Region Turkeys Hens: 8-16 lbs. 78.38 Toms: 16-24 lbs. 78.38   Delmarva Broilers U.S. Grade A The market tone was firm. Demand was fair to fairly good for mid week trading. Supplies of all sizes were close balanced to short 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 2010 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

01/05/2010 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 05, 2010 Soybeans Local Elevators: (Jan) EAST AR:  1024 to 1038 (NC) Summ. 938 to 978 River Elevators: (Jan) MISS: 1042 to 1071 ; AR & White 1027 to 1041 (NC) Summ. 960 to 988 Ark. Processor Bids: (Jan) 1017 to 1041  (NC) 963 to 970 Memphis:  (Jan) 1066 to 1071 (NC)  993 to 1008 Riceland Foods:  (Jan) Stuttgart 1041 ; Pendleton 1043 ; West Memphis 1066 Chicago Futures: Mar up 3 at  1061   May  up  2 1/4  at  1064 3/4   July up 1 1/2  at  1068 1/2   Sept up 1  at  1041   Nov up 3  at  1023   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed the day with small gains as the market traded to both sides of yesterday’s close. This was positive considering outside markets were generally negative. The dollar bounced back from early weakness which should have pressured the market. Fundamentals are basically unchanged with a good South American crop in the making. Wheat Cash bid for January at Memphis  493 to 523; Bids to farmers at Local Elevators 514-518; River Elevators 507-541; Chicago Futures: Mar down  4 3/4  at  553    May down 5 1/4  at  565 1/2    July down  6 1/4  at  575 1/2    Sept down  6 1/4  at  589    Dec down  6 1/2  at  611 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  751 to - - -; Bids to farmers at River Elevators 607-682; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   398 3/4 to - - -;   New crop at Memphis   371 3/4 to 419 3/4; Bids to farmers at River Elevators  372 to 394 Chicago Futures: Mar up  1/4  at  418 3/4    May up  1/4  at  429    Sept up  3/4  at  441 3/4    Dec unchanged  0  at  445 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Corn was slightly higher as there was little fresh news to give the market direction. Unharvested corn remains a factor, but it will be a while before actual losses are determined. A March close above $4.25 and/or September close above $4.47 would be positive. Wheat ended lower. U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business. Cotton & Rice  Date: January 05, 2010 Cotton Spot Price, Grade 41 Staple 34: Memphis down 288 at  6912   Greenwood down  288 at 6912 New York Futures: Mar down  288  at  7312    May down  283  at  7430    July down  258  at  7494    Oct down  200  at  7445    Dec down  189  at  7461  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Cotton plunged today, dropping almost the 300 point limit in nearby contracts. Futures responded to big holiday gains in the Chinese market yesterday and just as quickly gave it back. The downturn puts both old and new crop contracts near support at the bottom current consolidation patterns. December could move to the initial retracement objective around 73 cents. For old crop March, support starts around 71.7 cents. Rice Long Grain Cash Bid for  Jan/Feb 1379/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar down  4  at  1509 1/2    May down  4 1/2  at  1534 1/2    July down  4  at  1558    Sept unchanged  0  at  1412    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was a little lower as the market failed to follow through on yesterday’s big gains. Current resistance is just under $15. Fundamentals are unchanged with the Philippines having offered several big tenders to cover projected needs of over 2.2 million metric tonnes. India may still need to import rice, but it will be later and a lot more subtle than what we’ve seen from the Philippines. Cattle & Hogs  Date: January 05, 2010 Cattle As reported by Federal-State Market News, receipts were - - - head at sales in - - -.  Compared with last week, feeder steers - - - . Steers:  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - - Heifers:  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - - Slaughter Cows, Boners - - -   to   - - - Light Weight - - to - - - Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - - Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 102.50 to 113.50   550 to 600 lbs. 97 to 108.35 Heifers 500 to 550 lbs. 92.25 to 95.50   550 to 600 lbs. 88 to 94.10 Chicago Futures: Live Cattle: Feb up 95 at 8632   April up 67 at 8975 Feeders: March up 60 at 9692   May up 40 at 9875 Cattle Comment Cattle futures didn’t follow through on yesterday’s key reversal, but yesterday’s high near $87 could prove to be key resistance. A close below the low of $85.35 would open the market to further losses. Hogs Peoria: were     steady   at   38   to   40 Chicago Futures: Feb up 175 at 6760   April up 82 at 7127 Sheep St. Paul n/a   at   - - -   to   - - - Hogs Comment Hogs posted sharp gains today, with February in position to test resistance at the recent high of $68.05. Poultry  Date: January 05, 2010 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 91-95; Chicago:  Ex. Lg. 108-116; Lg. 106-114; Med. 74-82; Eastern Region Turkeys Hens: 8-16 lbs. 78.38 Toms: 16-24 lbs. 78.38   Delmarva Broilers U.S. Grade A The market tone was firm. Demand was fair to fairly good with limited trading. Supplies of all sizes were close balanced to tight to satisfy 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 2010 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

01/04/2010 Farm Bureau Market Report

Click here to view this report online.

Grain & Soybean Date: January 04, 2010 Soybeans Local Elevators: (Jan) EAST AR:  1005 to 1024 (NC) Summ. 935 to 975 River Elevators: (Jan) MISS: 1037 to 1063 ; AR & White 1008 to 1038 (NC) Summ. 957 to 985 Ark. Processor Bids: (Jan) 1014 to 1030  (NC) 960 to 967 Memphis:  (Jan) 1061 1/2 to 1063 (NC)  990 to - - - Riceland Foods:  (Jan) Stuttgart 1039 ; Pendleton 1034 ; West Memphis 1064 Chicago Futures: Mar up 9 1/2 at  1058   May  up  8 3/4  at  1062 1/2   July up 7 3/4  at  1067   Sept up 6 3/4  at  1040   Nov up 5 3/4  at  1020   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans started 2010 with good gains as funds used a weak dollar and strong crude oil as a basis for establishing new positions. Gains were trimmed later in the session with January falling back to the recently broken uptrend. January has initial resistance between $10.70 and $10.75. New crop November lost most of the early gains with resistance developing just above $10.30. Wheat Cash bid for January at Memphis  497 3/4 to 516 3/4; Bids to farmers at Local Elevators 520-524; River Elevators 514-547; Chicago Futures: Mar up  16 1/4  at  557 3/4    May up 15 3/4  at  570 3/4    July up  15 3/4  at  581 3/4    Sept up  15  at  595 1/4    Dec up  14 3/4  at  617 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for January at Memphis  706 to - - -; Bids to farmers at River Elevators 605-680; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for January at Memphis   386 1/2 to 398 1/2;   New crop at Memphis   371 to 419; Bids to farmers at River Elevators  371 to 392 Chicago Futures: Mar up  4  at  418 1/2    May up  4 1/2  at  428 3/4    Sept up  3 1/2  at  441    Dec up  4 1/2  at  445 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Corn futures held small gains at the close, after trimming big early moves. March futures moved to a six month high before declining to settle below $4.20. Bad weather across the Midwest and unharvested ’09 corn are keeping the market firm. Support at $4.00 and then $3.80 are key points to watch. Wheat closed sharply higher as investors appear to think it is underpriced relative to soybeans and corn. However, U.S. wheat remains overpriced relative to competition and long term will need to decline in order to get export business. Cotton & Rice  Date: January 04, 2010 Cotton Spot Price, Grade 41 Staple 34: Memphis up 90 at  7200   Greenwood up  90 at 7200 New York Futures: Mar up  40  at  7600    May up  54  at  7713    July up  54  at  7752    Oct up  33  at  7645    Dec up  29  at  7650  This week's LDP rate for cotton is  0 cents   The estimate for next week is  0 cents Cotton Comment Like grains and soybeans, cotton trimmed early gains, but still closed higher for the day. Fundamentals are unchanged as the market looks to tightening stocks and improving economic conditions to boost overall demand. March futures moved to new recent highs with current resistance just under 77 cents. New crop December is moving in a sideways pattern with resistance at 78 cents and support around 75 cents. A close to either side would indicate further movement in the direction of the breakout. Rice Long Grain Cash Bid for  Jan/Feb 1383/cwt  to  - - -   - - - - - -  to  - - - Chicago Futures: Mar up  24 1/2  at  1513 1/2    May up  24  at  1539    July up  25  at  1562    Sept up  22  at  1412    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice continued to firm with a second day of solid gains. Current resistance is just under $15. Fundamentals are unchanged with the Philippines having offered several big tenders to cover projected needs of over 2.2 million metric tonnes. India may still need to import rice, but it will be later and a lot more subtle than what we’ve seen from the Philippines. Cattle & Hogs  Date: January 04, 2010 Cattle As reported by Federal-State Market News, receipts were - - head at sales in - - -.  Compared with last week, feeder steers - - - . Steers:  Medium & Large Frame - - -   - - - to - - - lbs. - - - to - - -   - - - to -- - lbs. -- - to - - -   -- -- to - -- lbs. - - - to - - -  Medium & Large Frame -- -   --- to --- lbs. - - - to - - - Heifers:  Medium & Large Frame - - -   - -- to - - - lbs. - - - to - - -  Medium & Large Frame - - -   -- - to - - - lbs. -- - to - - - Slaughter Cows, Boners - - -   to   - - - Light Weight - - - to - - Bulls, Yield Grade   - - -   - - -   to   - - - lbs.   - - -   to   - - - Midwest Steers   were   at   78   to   85 Panhandle Steers   were   at   84   to   85.50 Oklahoma City Feeders Steers 500 to 600 lbs. 107 to 111.50   650 to 700 lbs. 94.75 to 96.75 Heifers 475 to 500 lbs. 94.50 to 96   550 to 600 lbs. 88 to 93.75 Chicago Futures: Live Cattle: Feb down 80 at 8537   Apr down 72 at 8907 Feeders: Mar up 7 at 9632   May down 40 at 9835 Cattle Comment Live cattle futures made a huge downward reversal which leaves the charts looking very negative. Today’s high near $87 may be key resistance. Weak operating margins will limit packer interest. Hogs Peoria: were       at   38   to   40 Chicago Futures: Feb up 25 at 6585   Apr up 57 at 7045 Sheep St. Paul - - -   at   - - -   to   - - - Hogs Comment Weather is limiting hog movement and that helped boost futures. However, this may lead to small backlog when weather clears up. Last week USDA projected a higher than expected pig crop for the last quarter. It wasn’t a great deal above expectations, but it was higher than expected considering recent sow liquidation. Poultry  Date: January 04, 2010 Eggs New York:  Ex. Lg. 118-122; Lg. 116-120; Med. 95-97; Chicago:  Ex. Lg. 108-116; Lg. 106-114; Med. 74-82; Eastern Region Turkeys Hens: 8-16 lbs. 75-81 Toms: 16-24 lbs. 75-81   Delmarva Broilers U.S. Grade A The market tone was firm. Demand was fair to fairly good with trading limited. Supplies of all sizes were close balanced to tight to satisfy 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 2010 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use