Grain & Soybean Date: February 05, 2010

Soybeans

Local Elevators:
(Feb) EAST AR:  861 to 879
(NC) Summ. 852 to 874
River Elevators:
(Feb) MISS: 878 to 923 ; AR & White 863 to 873
(NC) Summ. 849 to 884
Ark. Processor Bids: (Feb) 876 to 884  (NC) 861 to 862
Memphis:  (Feb) 918 1/2 to 931 1/2 (NC)  883 1/2 to 888 1/2
Riceland Foods:  (Feb) Stuttgart 876 ; Pendleton 873 ; West Memphis 917

Chicago Futures:	Mar	down	1/2	at	913 1/2
	May	down	1/2	at	924 1/4
	July	down	3/4	at	932 3/4
	Sept	down	3 3/4	at	914 1/4
	Nov	down	6 1/2	at	903 1/2
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans closed the day down slightly. Prices continue to hold up well given the crop reports that continue to flow out of South America. Most expect the USDA to revise South American production numbers higher on Tuesday. The large crop will likely put the breaks on U.S. soybean exports, which are already at 93% of the USDA projection for 2009/10.

Wheat
Cash bid for February at Memphis  413 1/4 to 445 1/4;

Bids to farmers at Local Elevators	441-453;
River Elevators	445-476;

Chicago Futures:	Mar	down	2 1/2	at	473 1/4
	May	down	2	at	488
	July	down	1 3/4	at	500 1/2
	Sept	down	1 1/4	at	516 3/4
	Dec	down	1	at	544 3/4
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for February at Memphis  628 to - - -;

Bids to farmers at River Elevators	486-561;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	February at Memphis   360 1/2 to 361 1/2;
	New crop at Memphis   310 1/4 to 365 1/4;
Bids to farmers at River Elevators	326 to 352

Chicago Futures:	Mar	down	2 1/2	at	351 1/2
	May	down	2 1/4	at	363
	Sept	down	2 1/2	at	380 1/4
	Dec	down	2 3/4	at	387
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
July wheat closed down today. Prices continue to be pressured by the large stocks both here in the U.S. and around the World. Its likely that next week’s USDA report will reduce total U.S. wheat consumption and push stocks-to-use over the 50% mark. Barring a catastrophic crop failure in a major producing country, it will take a while for the U.S. to work through its large stocks. Wheat prices will depend on outside markets to provide support. Support for July is now the contract low of $4.86.<br><br>Corn prices closed the day down slightly. Prices continue to be plagued by the large U.S. crop reported by the USDA in January. The February report will likely show a larger South American crop which will add further pressure to prices. Combine that with the strong dollar and falling oil prices, and there is little news to support stronger corn prices.

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Cotton & Rice  Date: February 05, 2010

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 212 at  6287
	Greenwood down  212 at 6287

New York Futures:	Mar	down	237	at	6662
	May	down	227	at	6823
	July	down	219	at	6926
	Oct	down	162	at	6888
	Dec	down	203	at	6873
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
Cotton prices fell again today, giving back most of this weeks gains. A strong dollar combined with weak financial markets continues to plague the cotton market.

Rice

Long Grain Cash Bid for	Feb	1308/cwt	to	- - -
	- - -	- - -	to	- - -

Chicago Futures:	Mar	down	9 1/2	at	1408 1/2
	May	down	6	at	1439 1/2
	July	down	6 1/2	at	1463
	Sept	down	6 1/2	at	1354
	- - -		- - -	at	- - -
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice futures were down again today. Weakness in other markets is pressuring rice prices lower. Rice exports continue to lag behind last years exports. While milled exports are slightly lower than larger than last year, they remain well below the 5-year average level. Support is located at the January low of $13.40.

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Cattle & Hogs  Date: February 05, 2010

Cattle
As reported by Federal-State Market News, receipts were 4,465 head at sales in Arkansas this week.  Compared with last week, feeder steers sold $1 to $5 lower .

Steers:
Medium & Large Frame 1	400	to	450 lbs.	114	to	- - -
	500	to	550 lbs.	105	to	- - -
	600	to	650 lbs.	96	to	- - -
Medium & Large Frame 2	450	to	500 lbs.	100	to	- - -
Heifers:
Medium & Large Frame 1	500	to	550 lbs.	91	to	- - -
Medium & Large Frame 2	450	to	500 lbs.	85	to	- - -

Slaughter Cows, Boners 47   to   53
Light Weight 33 to 38
Bulls, Yield Grade   1   1000   to   2100 lbs.   56   to   63
Midwest Steers   were steady   at   84   to   - - -
Panhandle Steers   were steady to $1   at   84   to   85

Oklahoma City Feeders
Steers	500	to	550 lbs.	99.50	to	110
	550	to	600 lbs.	104	to	- - -
Heifers	500	to	550 lbs.	88.50	to	98
	550	to	600 lbs.	87	to	95.85

Chicago Futures:

Live Cattle:	April	up	32	at	9040
	June	up	25	at	8810
Feeders:	Mar	up	107	at	9832
	May	up	92	at	10117

Cattle Comment
Cattle futures were up slightly. Strengthening cash prices at local markets combined with poor weather in the Midwest are supporting cattle futures.

Hogs
Peoria: were     steady   at   39   to   41

Chicago Futures:	April	down	20	at	6672
	June	down	22	at	7542

Sheep
St. Paul n/a   at   - - -   to   - - -

Hogs Comment
Hogs ended mixed. While cutout prices remain strong pork demand continues to be sluggish.

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Poultry  Date: February 05, 2010

Eggs

New York:	Ex. Lg. 123-127; Lg. 121-125; Med. 105-109;
Chicago:	Ex. Lg. 129-137; Lg. 127-135; Med. 98-106;

Eastern Region Turkeys

Hens:	8-16 lbs.	79
Toms:	16-24 lbs.	76

Delmarva Broilers
U.S. Grade A
The market tone was mostly steady. Demand entering the weekend was fair to moderate with trading usually limited to regular commitments. Supplies of all sizes were moderate to satisfy current trade needs. In production areas live supplies were moderate at mostly desirable weights.