04/23/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 23, 2009 Soybeans Local Elevators: (Apr) EAST AR:  1013 to 1028 (NC) Summ. 854 to 874 River Elevators: (Apr) MISS: 1018 to 1048 ; AR & White 1009 to 1024 (NC) Summ. 859 to 893 Ark. Processor Bids: (Apr) 1024 to 1028  (NC) 859 to 870 Memphis:  (Apr) 1042 3/4 to 1045 3/4 (NC)  893 1/2 to - - - Riceland Foods:  (Apr) Stuttgart 1028 ; Pendleton 1028 ; West Memphis 1048 Chicago Futures: May down 8 1/4 at  1037 3/4   Jul  down  7  at  1032   Sep down 2  at  965 1/2   Nov down 1/2  at  923 1/2   Jan '10 down 3/4  at  928 1/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans rallied early on a weaker dollar and another good export sales report. A slightly larger than expected March crush figure was also supportive. However, the market faltered late in the session and closed lower with the biggest declines in old crop. Potential weather delays in corn planting could push more acres to beans. That remains to be seen as there is still ample time to plant corn. Last week’s high of $9.48 for the November contract could be strong resistance in the weeks ahead. Corn closed higher with extended weather forecasts providing support. In addition, the California Air Resource Board appears to have given corn ethanol a reprieve by recommending additional study on the “carbon footprint”. There were fears they would give a detrimental ruling at today’s meeting. Look for September to work toward resistance near $4.25. Wheat Cash bid for April at Memphis  461 1/4 to 464 1/4; Bids to farmers at Local Elevators 441-461; River Elevators 453-486; Chicago Futures: May up  12 1/2  at  529 1/4    Jul up 12 3/4  at  540 3/4    Sep up  12 1/2  at  567 3/4    Dec up  12 1/2  at  590 3/4    Mar '10 up  12  at  605 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  509 to 511; Bids to farmers at River Elevators 460-541; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   381 to - - -;   new crop at Memphis   364 3/4 to - - -; Bids to farmers at River Elevators  349 to 376 Chicago Futures: May up  7 1/2  at  381    Jul up  7 1/2  at  390    Sep up  7 1/2  at  399 3/4    Dec up  8 1/4  at  411 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat made solid gains based a weaker $ and a good but not great export sales report. Weather delays of planting spring wheat aided the advance. Cotton & Rice  Date: April 23, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 157 at  4786   Greenwood up  157 at 4786 New York Futures: May up  171  at  5100    Jul up  132  at  5211    Dec up  110  at  5603    Mar '10 up  106  at  5882    n/a up  - - -  at  - - -  This week's LDP rate for cotton is  12.92 cents   The estimate for next week is  11.39 cents Cotton Comment Cotton surged to the highest level since late January with December closing above 56 cents. There is substantial resistance in this area and with the market technically overbought, we could see a setback before the market can exceed this level. There is additional resistance around 59 cents and above that the 38% retracement objective of 63.5 cents. Overall fundamentals are unchanged with big U.S. and world stocks overhanging the market. Weather factors, drought in Texas and wet planting conditions in the mid-South are giving the market some short term hope. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May up  10 1/2  at  1293    Jul up  13 1/2  at  1310    Sep up  14  at  1241    Nov up  10  at  1244    n/a   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice reversed yesterday’s declines and closed higher for the day. Fundamentals are unchanged. Overall, the international market remains slow, but there is concern about what Thailand will do with old intervention stocks. If those are offered on the market, it will change the supply situation. Vietnam’s export ban remains in place and one recent shipment was stopped because it was apparently made after the ban was imposed. For now the cash market remains firm, while futures have moved back into the longer term trading range. Cattle & Hogs  Date: April 23, 2009 Cattle As reported by Federal-State Market News, receipts were 2,473 head at sales in Charlotte, Ratcliff and Green Forest.  Compared with last week, feeder steers sold firm to $3 higher, heifers sold unevenly, averaging weak to $3 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 117 to - - -   500 to 550 lbs. 109 to - - -   600 to 650 lbs. 105 to - - -  Medium & Large Frame 2   400 to 450 lbs. 111 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 97 to - - -  Medium & Large Frame 2   400 to 450 lbs. 90.25 to - - - Slaughter Cows, Boners 42   to   47 Light Weight 34 to 40 Bulls, Yield Grade   1   1000   to   2100 lbs.   54   to   62, high dressing $62-65.50 Midwest Steers   were $2 higher   at   88   to   - - - Panhandle Steers   were $2-1.50 higher   at   88   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: Jun up 32 at 8347   Aug up 35 at 8367 Feeders: May down 20 at 9920   Sep down 57 at 10070 Cattle Comment Cattle futures closed mixed with feeders mostly lower. Live cattle were mostly higher as whole sale beef continued to improve. Good export sales were also positive, but most of the strength seems to be coming from early technical buying. Long term, there is strong resistance at $85. Hogs Peoria: were       at   n/a   to   - - - Chicago Futures: Jun down 50 at 7187   Aug down 32 at 7335 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hogs were lower again today. Declining pork composite values are pushing packer margins further into the red. The market will need to see stronger consumer demand, or cash bids will decline to bring packer margins back to the positive side. Poultry  Date: April 23, 2009 Eggs New York:  Ex. Lg. 82-86; Lg. 80-84; Med. 68-72; Chicago:  Ex. Lg. 97-105; Lg. 95-103; Med. 171-179; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was steady. Demand approaching the weekend was fair at best with trading usually limited to regular commitments. Supplies of all sizes were adequate to handle current trade needs. In production areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com Arkansas Farm Bureau 10720 Kanis Road Little Rock, AR 72211 501-224-4400 Copyright 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

04/22/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 22, 2009 Soybeans Local Elevators: (Apr) EAST AR:  1021 to 1036 (NC) Summ. 854 to 874 River Elevators: (Apr) MISS: 1026 to 1056 ; AR & White 1017 to 1032 (NC) Summ. 859 to 892 Ark. Processor Bids: (Apr) 1036 to - - -  (NC) 860 to 870 Memphis:  (Apr) 1046 to 1051 (NC)  894 to - - - Riceland Foods:  (Apr) Stuttgart 1036 ; Pendleton 1036 ; West Memphis 1056 Chicago Futures: May up 8 at  1046   Jul  up  6  at  1039   Sep down 3 1/2  at  967 1/2   Nov down 7  at  924   Jan '10 down 8  at  929   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans closed mixed with tight old crop supplies boosting the nearby contracts. Prospects of increased ’09 plantings pressured new crop. Mixed outside markets provided little direction to the market. Longer term weather will be a major factor as producers make final planting decisions. Corn was narrowly mixed. The market ended mostly lower but losses were minor. Long term weather forecasts suggest corn planting may continue behind the norm with several systems expected to move through during the next 10 days. Wheat Cash bid for April at Memphis  445 3/4 to 448 3/4; Bids to farmers at Local Elevators 428-453; River Elevators 440-473; Chicago Futures: May up  7 1/4  at  516 3/4    Jul up 7 1/4  at  528    Sep up  7 3/4  at  555 1/4    Dec up  7 1/4  at  578 1/4    Mar '10 up  7  at  593 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  492 to 497; Bids to farmers at River Elevators 446-526; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   373 1/2 to - - -;   new crop at Memphis   352 1/4 to 357 1/4; Bids to farmers at River Elevators  341 to 369 Chicago Futures: May down  1/2  at  373 1/2    Jul down  1/2  at  382 1/2    Sep down  1/4  at  392 1/4    Dec down  1/4  at  403 1/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat was higher for the day with slow spring wheat planting providing most of the support. July soft red wheat bounced off support around $5.10 to $5.15, but upside potential remains limited. Cotton & Rice  Date: April 22, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 51 at  4629   Greenwood down  51 at 4629 New York Futures: May down  54  at  4929    Jul down  51  at  5079    Dec down  43  at  5493    Mar '10 down  45  at  5776    - - -   - - -  at  - - -  This week's LDP rate for cotton is  12.92 cents   The estimate for next week is  11.51 cents Cotton Comment Cotton gave back some of yesterday’s gains. July cotton remains just above 50 cents and December closed under 55 cents. Weakness in the financial markets seemed to spillover into the cotton market causing the losses. Traders will be looking at tomorrow's export report for some guidance as another week of strong exports could add some additional support to cotton prices, and would help December cotton move into position to test resistance at 57 cents. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May down  6  at  1282 1/2    Jul down  2 1/2  at  1296 1/2    Sep down  11  at  1227    Nov down  6  at  1234    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Not much was happening in rice as the market closed a little lower again today. Even a slow pace in planting didn’t provide much enthusiasm. Overall, the international market remains slow, but there is concern about what Thailand will do with old intervention stocks. If those are offered on the market, it will change the supply situation. Vietnam’s export ban remains in place and one recent shipment was stopped because it was apparently made after the ban was imposed. For now the cash market remains firm, while futures have moved back into the longer term trading range. Cattle & Hogs  Date: April 22, 2009 Cattle As reported by Federal-State Market News, receipts were 1,018 head at sales in Conway & Pocahontas.  Compared with last week, feeder steers sold mostly steady to $1 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 112.50 to - - -   500 to 550 lbs. 106 to - - -   600 to 650 lbs. 94.75 to - - -  Medium & Large Frame 2   400 to 450 lbs. 98.25 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 98.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.75 to - - - Slaughter Cows, Boners 46   to   51 Light Weight 32 to 36 Bulls, Yield Grade   1   1000   to   2100 lbs.   58   to   65 Midwest Steers   were steady to $1 higher   at   86   to   87 Panhandle Steers   were steady to $1.50 higher   at   86   to   87.50 Oklahoma City Feeders Steers 500 to 550 lbs. 116.50 to 124   600 to 650 lbs. 105.75 to 111.25 Heifers 500 to 550 lbs. 103 to 108.50   600 to 650 lbs. 96 to 102 Chicago Futures: Live Cattle: Jun down 12 at 8315   Aug down 22 at 8332 Feeders: May up 12 at 9940   Sep down 20 at 10127 Cattle Comment Cattle futures were mixed with feeders slightly higher in the nearby contracts. Rising beef supplies are expected to temper upside potential for cattle but that may be down the line a while. Right now improving cutout values are prompting good packer demand going into the weekend. Hogs Peoria: were $1     higher   at   38.5   to   39 Chicago Futures: Jun down 2 at 7237   Aug down 37 at 7367 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were lower despite indications of tight supplies in the cash market. Negative packer margins suggest cash bids will begin to decline unless pork values increase significantly. Yesterday’s cold storage report showed a continuing decline in stocks which should be positive long term. Poultry  Date: April 22, 2009 Eggs New York:  Ex. Lg. 84-88; Lg. 82-86; Med. 70-74; Chicago:  Ex. Lg. 97-105; Lg. 95-103; Med. 71-79; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was mostly steady. Demand was no better than fair with limited trading. Supplies of all sizes were adequate to handle current trade needs. In production areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com Arkansas Farm Bureau 10720 Kanis Road Little Rock, AR 72211 501-224-4400 Copyright 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

04/21/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 21, 2009 Soybeans Local Elevators: (Apr) EAST AR:  1013 to 1028 (NC) Summ. 861 to 881 River Elevators: (Apr) MISS: 1023 to 1048 ; AR & White 1012 to 1027 (NC) Summ. 866 to 897 Ark. Processor Bids: (Apr) 1028 to - - -  (NC) 867 to 876 Memphis:  (Apr) 1038 to 1043 (NC)  901 to - - - Riceland Foods:  (Apr) Stuttgart 1028 ; Pendleton 1028 ; West Memphis 1048 Chicago Futures: May up 19 1/2 at  1038   Jul  up  21 1/2  at  1033   Sep up 30  at  971   Nov up 28  at  931   Jan '10 up 26 3/4  at  937   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Despite another day of declines in oil prices, soybeans managed to recover most of yesterday’s losses. News of another large U.S. soybean sale to China helped to support prices. U.S. exports continue to remain relatively strong, as China continues to come to the U.S. when they would usually be switching to South American beans. If large sales continue to be made and shipped to China we could see U.S. soybean stocks tighten even further. On the bearish side, U.S. corn plantings remain well below the 5-year average, combined with the current corn-soy price ratio of 2.31 has some concerned about how many acres of soybeans will be planted this spring. Corn prices followed soybeans higher today. Yesterday’s crop progress report showed about 5% of the crop planted, this compares to 14% 5-year average planting and only 4% planted last year. The current weather forecast suggests much of the Midwest will likely have dry weather this week, with another rain system unlikely before Sunday. While there is a lot of concern about plantings, without an increase in soybean prices, corn prices will have a difficult time moving higher. Wheat Cash bid for April at Memphis  439 1/2 to 441 1/2; Bids to farmers at Local Elevators 421-441; River Elevators 433-466; Chicago Futures: May up  5  at  509 1/2    Jul up 4 1/2  at  520 3/4    Sep up  4 1/4  at  547 1/2    Dec up  4 1/4  at  571    Mar '10 up  4 1/2  at  586 3/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  495 to 498; Bids to farmers at River Elevators 448-528; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   374 to - - -;   new crop at Memphis   352 1/2 to - - -; Bids to farmers at River Elevators  342 to 369 Chicago Futures: May up  4 1/2  at  374    Jul up  4 1/4  at  383    Sep up  4 3/4  at  392 1/2    Dec up  4 3/4  at  403 1/2    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat prices followed soybeans higher. Yesterday’s crop report showed 43% of the winter wheat crop as good to excellent, up from 42% last week. There is very little fundamental support for wheat as large stocks will likely pressure price into the fall. Wheat prices continue to have support at $5.15 and $5.00. Cotton & Rice  Date: April 21, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis up 230 at  4680   Greenwood up  230 at 4680 New York Futures: May up  204  at  4983    Jul up  230  at  5130    Dec up  207  at  5536    Mar '10 up  193  at  5821    - - -   - - -  at  - - -  This week's LDP rate for cotton is  12.92 cents   The estimate for next week is  11.69 cents Cotton Comment Cotton recovered most of yesterday’s losses and then some in some cases. July cotton is back above 50 cents and December closed above 55 cents. Strength in the financial markets seemed to spillover into the cotton market as little has changed on the fundamental side. Strong exports over the past few weeks have helped add some fundamental support as well as continued dry conditions in Texas and acreage forecast in 2009. December cotton may be poised to test resistance at 57 cents. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May up  12 1/2  at  1288 1/2    Jul up  16  at  1299    Sep up  13 1/2  at  1238    Nov up  11  at  1240    - - -   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice prices traded higher across the board. Again, strength in other commodities and the financial market appears to have spilled over into the rice market. May futures continue to face resistance at $13 and September around $12.50. Cattle & Hogs  Date: April 21, 2009 Cattle As reported by Federal-State Market News, receipts were 1,468 head at sales in Fort Smith & Heber Springs.  Compared with last week, feeder steers sold $2-5 higher, heifers firm to $4 higher . Steers:  Medium & Large Frame 1   400 to 450 lbs. 117 to - - -   500 to 550 lbs. 110.50 to - - -   600 to 650 lbs. 105 to - - -  Medium & Large Frame 2   400 to 450 lbs. 105.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 100 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93.50 to - - - Slaughter Cows, Boners 44   to   50.50 Light Weight 30 to 34 Bulls, Yield Grade   1   1000   to   2100 lbs.   56   to   64, high dressing 65.50-66 Midwest Steers   were quoted   at   86   to   - - - Panhandle Steers   were quoted   at   86   to   - - - Oklahoma City Feeders Steers 500 to 550 lbs. 116.50 to 124   600 to 650 lbs. 105.75 to 111.25 Heifers 500 to 550 lbs. 103 to 108.50   600 to 650 lbs. 96 to 102 Chicago Futures: Live Cattle: Jun up 65 at 8327   Aug up 35 at 8355 Feeders: May up 95 at 9927   Sep up 45 at 10147 Cattle Comment Cattle prices closed the day higher. Strength in the financial market removed the downward pressure and allowed future prices to trade the strong increases in cut out prices. Hogs Peoria: were $.5     higher   at   37.5   to   38 Chicago Futures: Jun up 10 at 7240   Aug up 12 at 7405 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog prices were not to be left out today and closed higher. Strengthening cash prices and lack of negative news from other markets allowed hog prices to strengthen slightly. Poultry  Date: April 21, 2009 Eggs New York:  Ex. Lg. 88-92; Lg. 86-90; Med. 71-75; Chicago:  Ex. Lg. 97-105; Lg. 95-103; Med. 71-78; Eastern Region Turkeys Hens: 8-16 lbs. 76-79 Toms: 16-24 lbs. 76-79   Delmarva Broilers U.S. Grade A Trade sentiment was mostly steady. Demand was fair at best with limited trading. Supplies of all sizes were sufficient 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 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use

Earth Day on the Farm: Plenty of Good News

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	Dear Agriculture, America is absolutely steeped in environmental talk and events this week, and all the action isn’t just at parks and Earth Day celebrations. Across the country farmers are helping to provide solutions for our most pressing environmental challenges. Movement on Climate Change Legislation: U.S. Agriculture Is Ready Today on Capitol Hill, members of congress are gearing up for climate change legislation with an eye on environmental conservation practices on farms that can help sequester carbon and, a nod to clean energy crops such as wind. Farmers are ready to start combating climate change, and if US congress rolls out a cap and trade system this year, agriculture will provide one of the most cost-effective ways to reduce greenhouse emissions.  Conservation Practices on the Farm for Clean Water in the Ohio River Basin The Ohio River Basin encompasses portions of 14 states with an area of more than 200,000 square miles—over 5 percent of the total United States land mass. Our work with agriculture in the region will help clean up the Ohio River Basin which in turn will address the Hypoxic Zone in the Gulf of Mexico. Today we’re talking with Ohio farmers about how they can be part of the solution for clean water. Implementing an Ecosystems Service Marketplace in the Upper Mississippi Watershed Over the next two years, AFT and its partners will launch the Midwest’s first real "stackable" credit market involving both water quality trading and carbon trading with point source polluters and farmers in Minnesota. This week at the American Planning Association’s national conference in Minneapolis, we’ll chart out some of the first steps that are being taken with farmers and communities to establish this new market to benefit the environment. Farmers Making a Difference for the Chesapeake Bay   The Bay states—Maryland, Pennsylvania, Virginia and the District of Columbia—committed in the Chesapeake 2000 Agreement to significantly reduce pollutants by 2010; the states have set goals to reduce nitrogen from agriculture by nearly 65 million pounds annually. Many farmers have adopted practices to improve water quality. Providing more assistance to farmers is an effective way to keep farms thriving while protecting the water quality of the bay. We know that the health of the bay can improve because of farms, not in spite of them. Integrating Conservation and Wildlife Protection in the Pacific Northwest We are working with agriculture in the Pacific Northwest to implement ecosystem service markets. Such markets—which pay farmers for the environmental benefits they provide—promise immense opportunities for helping the environment and improving the profitability of agriculture. Read our piece in the Seattle Post-Intelligencer about the role of farmers in a healthier environment!     Improving California's Environment through Agriculture California’s progressive environmental initiatives combined with its agricultural and political importance make it a prime candidate for showing that ecosystem services approaches can work on a wide variety of irrigated crops, including fruits, vegetables and nuts. Starting this spring, farmers in California are implementing environmentally friendly conservation practices through our BMP Challenge for Reduced Tillage to improve water quality and help mitigate climate change.    With all this momentum building across the country, we are certain to see a brighter future for our agricultural lands and our precious natural resouces. We need your support to make sure that the right policies are made, that as citizens we make the right choices to limit our impact, and to ensure that the way is clear for agriculture to bring its land stewardship and conservation practices to the table!  Do your part for the environment this Earth Day by taking three simple steps: 1. Join our Facebook cause and rally your friends around our Farmers Combat Climate Change campaign. 2. Check out our Farmers Combat Climate Change Cap and Trade Tutorial to learn about what's cooking on Capital Hill and tell congress why agriculture has to be included. 3. Make a donation.
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04/20/2009 Farm Bureau Market Report

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Grain & Soybean Date: April 20, 2009 Soybeans Local Elevators: (Apr) EAST AR:  994 to 1009 (NC) Summ. 833 to 853 River Elevators: (Apr) MISS: 1004 to 1029 ; AR & White 992 to 1007 (NC) Summ. 839 to 869 Ark. Processor Bids: (Apr) 1009 to - - -  (NC) 839 to 848 Memphis:  (Apr) 1026 1/2 to 1027 1/2 (NC)  873 to - - - Riceland Foods:  (Apr) Stuttgart 1009 ; Pendleton 1009 ; West Memphis 1029 Chicago Futures: May down 32 1/2 at  1018 1/2   Jul  down  30  at  1011 1/2   Sep down 30  at  941   Nov down 32  at  903   Jan '10 down 34 1/4  at  910 1/4   Today's Arkansas LDP rate for soybeans is: 0¢ Soybean Comment Soybeans dropped sharply as the market reacted to weaker crude oil and equities. A stronger dollar added to the weaker undertone. Good export numbers did help temper declines late in the session, but the big gap lower for the November contract suggests traders expect additional acreage to move to soybeans. Trendline support at $8.70 and then support at the late March low of $8.38 may be tested. Corn led the early decline but made better late recovery than soybeans. Improving long range weather is expected to bring good planting opportunities over the next 2 weeks. Support at $3.60 held the old crop May contract. Downside would seem limited until the market has assurance a good crop is probable. Wheat Cash bid for April at Memphis  448 1/4 to 451 1/4; Bids to farmers at Local Elevators 416-436; River Elevators 428-461; Chicago Futures: May down  18 1/2  at  504 1/2    Jul down 18 1/2  at  516 1/4    Sep down  19  at  543 1/4    Dec down  18  at  566 3/4    Mar '10 down  18  at  582 1/4    Today's Arkansas LDP rate for wheat is: 0¢ Grain Sorghum Cash bid for April at Memphis  490 to - - -; Bids to farmers at River Elevators 439-519; Today's Arkansas LDP rate for sorghum is: 0¢ Corn Cash bid for April at Memphis   369 1/2 to - - -;   new crop at Memphis   347 3/4 to 352 3/4; Bids to farmers at River Elevators  337 to 365 Chicago Futures: May down  6 3/4  at  369 1/2    Jul down  7  at  378 3/4    Sep down  7 1/2  at  387 3/4    Dec down  8 1/4  at  398 3/4    Today's Arkansas LDP rate for corn is: 0¢ Grain Comment Wheat is again testing support between $5.15 and $5.00. While a smaller crop is anticipated, stocks are large and the export market remains very competitive. Cotton & Rice  Date: April 20, 2009 Cotton Spot Price, Grade 41 Staple 34: Memphis down 169 at  4450   Greenwood down  169 at 4450 New York Futures: May down  215  at  4779    Jul down  169  at  4900    Dec down  166  at  5329    Mar '10 down  155  at  5628    - - -   - - -  at  - - -  This week's LDP rate for cotton is  12.92 cents   The estimate for next week is  11.37 cents Cotton Comment Cotton was sharply lower as the market reflected on the weaker undertone in the equities markets and the general feeling that the overall economy still has some work to do. While a smaller U.S. crop is expected in’09, it may take some time to see improved textile demand. While December may yet trade toward resistance at 57 cents, it will take a much higher price to improve producer prospects. Rice Long Grain Cash Bid for  n/a - - -  to  - - -   n/a - - -  to  - - - Chicago Futures: May down  7 1/2  at  1276    Jul down  19 1/5  at  1283    Sep down  18  at  1224 1/2    Nov down  15 1/2  at  1229    n/a   - - -  at  - - -  Today's Arkansas LDP rate for long grain rice is  0¢ medium grain rice is  0¢ Rice Comment Rice was slightly lower today as the market tended to follow soybeans and the other grains. Weaker prospects for the U.S. economy remained in the forefront as crude oil lost momentum and traded sharply lower, as did the stocks market. These factors trended to override any pertinent fundamentals. Activity on the international scene remains slow. Tight U.S. stocks are expected to continue in the coming year as ’09 plantings are projected to increase just slightly. Cattle & Hogs  Date: April 20, 2009 Cattle As reported by Federal-State Market News, receipts were 2,743 head at sales in Ash Flat, Springdale & Ola.  Compared with last week, feeder steers sold mostly firm to $3 higher, heifers under 500 lbs. sold firm to $3 higher, over 500 lbs. weak to $2 lower . Steers:  Medium & Large Frame 1   400 to 450 lbs. 116.75 to - - -   500 to 550 lbs. 110.25 to - - -   600 to 650 lbs. 107.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 108.50 to - - - Heifers:  Medium & Large Frame 1   400 to 450 lbs. 101.25 to - - -  Medium & Large Frame 2   400 to 450 lbs. 93 to - - - Slaughter Cows, Boners 44   to   50 Light Weight 33 to 41 Bulls, Yield Grade   1   1000   to   2100 lbs.   55   to   62, high dress 62.50-69 Midwest Steers   n/a   at   - - -   to   - - - Panhandle Steers   n/a   at   - - -   to   - - - Oklahoma City Feeders Steers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Heifers n/a to - - - lbs. - - - to - - -   n/a to - - - lbs. - - - to - - - Chicago Futures: Live Cattle: Jun down 190 at 8262   Aug down 192 at 8320 Feeders: May down 120 at 9832   Sep down 152 at 10102 Cattle Comment Cattle futures declined as traders were concerned about the state of the overall economy as oil and equities made sharp downward corrections. At the same time cutout values were up another $1.66 today, making gains of over $10 in the last week. Last Friday’s cattle on feed report showed over 5% less cattle feedlots. However, slaughter weights were higher again, 46 pounds above a year ago. Hogs Peoria: were $1.5     higher   at   37   to   37.5 Chicago Futures: Jun down 132 at 7230   Aug down 92 at 7392 Sheep St. Paul sheep shorn slaughter lambs   at   n/a   to   - - - Hogs Comment Hog futures were lower today. Packer margins are narrowing despite fewer hogs and slower marketings than a year ago. Poultry  Date: April 20, 2009 Eggs New York:  Ex. Lg. 93-97; Lg. 91-95; Med. 73-77; Chicago:  Ex. Lg. 97-105; Lg. 95-103; Med. 71-79; Eastern Region Turkeys Hens: 8-16 lbs. 74-78 Toms: 16-24 lbs. 74-78   Delmarva Broilers U.S. Grade A Trade sentiment was at least steady. Demand following the weekend was mostly fair with trading usually limited to regular commitments. Supplies of all sizes were sufficient to satisfy current trade needs. In productions areas, live supplies were moderate at mostly desirable weights. ---------------------------------------- HOW TO UNSUBSCRIBE You are receiving this newsletter because you requested that your e-mail address be added to the Arkansas Farm Bureau Market Report. To unsubscribe or change your subscription information, go to http://www.arfb.com/commodity_marketing/email/ ---------------------------------------- QUESTIONS OR COMMENTS? If you have any comments or questions about this e-newsletter please e-mail us at mktrpt@arfb.com Arkansas Farm Bureau 10720 Kanis Road Little Rock, AR 72211 501-224-4400 Copyright 2009 Arkansas Farm Bureau, Inc. All rights reserved Terms of Use