Grain & Soybean Date: September 05, 2008

Soybeans

Local Elevators:
(Sep) EAST AR:  n/a to - - -
(NC) Summ. 1069 to 1118
River Elevators:
(Sep) MISS: 1087 to 1144 ; AR & White 1110 to 1130
(NC) Summ. 1087 to 1139
Ark. Processor Bids: (Sep) n/a to - - -  (NC) 1107 to 1115
Memphis:  (Sep) 1132 to 1157 (NC)  1127 to 1131
Riceland Foods:  (Sep) Stuttgart 1118 ; Pendleton 1121 ; West Memphis 1139

Chicago Futures:	Nov	down	58	at	1177
	Jan '09	down	58 1/4	at	1193 3/4
	Mar '09	down	57 3/4	at	1206 3/4
	May '09	down	57	at	1215 1/2
	Nov '09	down	59 1/4	at	1168 1/4
	Today's Arkansas LDP rate for soybeans is:				0¢

Soybean Comment
Soybeans finished this short week of trading at $1.50 lower. Much of the decline can be attributed to futures declined and the dollar continued to strengthen. This week’s export numbers indicate the stronger dollar is cutting in to demand. End of the year marketing tally also suggests an upward adjustment 20-25 million bushels in ending stocks is likely. Technically, November is testing key support around $41.73. The next major support is at $10.60. Corn was also lower for the week with overall losses of 35 cents. A retest of support at the recent low of $5.05 is likely.

Wheat
Cash bid for September at Memphis  531 1/2 to 540 1/2;

Bids to farmers at Local Elevators	552;
River Elevators	552-557;

Chicago Futures:	Dec	down	25 1/2	at	751 1/2
	Mar '09	down	26	at	774 3/4
	May '09	down	27	at	788 1/2
	Jul '09	down	26 1/2	at	801 3/4
	Sep '09	down	25 3/4	at	818 1/2
	Today's Arkansas LDP rate for wheat is:				0¢

Grain Sorghum
Cash bid for September at Memphis  837 to - - -;

Bids to farmers at River Elevators	721-838;
Today's Arkansas LDP rate for sorghum is:	0¢

Corn

Cash bid for	September at Memphis   510 1/2 to 513 1/2;
	new crop at Memphis   n/a to - - -;
Bids to farmers at River Elevators	483 to 507

Chicago Futures:	Dec	down	17 3/4	at	531 1/2
	Mar '09	down	16	at	567 1/4
	May '09	down	16	at	579 1/4
	Dec '09	down	15	at	585
	Today's Arkansas LDP rate for corn is:				0¢

Grain Comment
Wheat futures gapped to new lows for the move. Weaker crude oil prices and the stronger dollar, however, are limiting the upside potential. Exports for last week were above trade expectations at 16 million bushels, but that is not an impressive total. The very wide Gulf basis has indicated for some time that U.S. wheat was overpriced on the global market, and the improving dollar has not helped that situation.

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Cotton & Rice  Date: September 05, 2008

Cotton

Spot Price, Grade 41 Staple 34:	Memphis down 272 at  5876
	Greenwood down  272 at 5876

New York Futures:	Oct	down	228	at	6370
	Dec	down	253	at	6593
	Mar '09	down	265	at	7034
	May '09	down	121	at	7400
	Jul '09	down	248	at	7509
This week's LDP rate for cotton is					0 cents
	The estimate for next week is				0 cents

Cotton Comment
December cotton dipped below recent support just under 67 cents and closed sharply lower. This suggests further declines are possible despite the impacts of recent weather. Hurricane Gustav added to potential crop problems in the Midsouth. Earlier rains from Hurricane Faye hit the crop with a period of rain, lower temperatures and prolonged cloudy conditions. Gustav will add to potential yield and quality concerns. Longer term, any cut in this year’s production will tighten stocks next year.

Rice

Long Grain Cash Bid for	n/a	- - -	to	- - -
	n/a	- - -	to	- - -

Chicago Futures:	Nov	up	14	at	1910
	Jan '09	up	14	at	1940
	Mar '09	up	14	at	1970
	May '09	up	16	at	1998
	- - -		- - -	at	- - -
Today's Arkansas LDP rate for long grain rice is					0¢
medium grain rice is					0¢

Rice Comment
Rice was the only grain with positive numbers for today and for the week. A firmer undertone in the international market and concern about the impact of Hurricane Gustav on the Midsouth crop provided support. Vietnam has raised their Minimum Export Price back to $650 per tonne as export shipments against prior sales continue at a strong pace. In Thailand, the Government Intervention Program is providing support around $700 per tonne. Overall market conditions are rather quiet. That is also the case here as buyers await the new crop. Current support for November futures starts around $17.60, the next upside objective is $19.22 and then $19.94.

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Cattle & Hogs  Date: September 05, 2008

Cattle
As reported by Federal-State Market News, receipts were 3,165 head at sales in Arkansas this week.  Compared with last week, feeder steers n/a .

Steers:
Medium & Large Frame n/a	- - -	to	- - - lbs.	- - -	to	- - -
	- - -	to	- - - lbs.	- - -	to	- - -
	- - -	to	- - - lbs.	- - -	to	- - -
Medium & Large Frame n/a	- - -	to	- - - lbs.	- - -	to	- - -
Heifers:
Medium & Large Frame n/a	- - -	to	- - - lbs.	- - -	to	- - -
Medium & Large Frame n/a	- - -	to	- - - lbs.	- - -	to	- - -

Slaughter Cows, Boners n/a   to   - - -
Light Weight n/a to - - -
Bulls, Yield Grade   n/a   - - -   to   - - - lbs.   - - -   to   - - -
Midwest Steers   were $2 higher   at   99   to   - - -
Panhandle Steers   were $2 higher   at   99   to   - - -

Oklahoma City Feeders
Steers	500	to	550 lbs.	113	to	117.50
	600	to	650 lbs.	109.78	to	120.50
Heifers	500	to	550 lbs.	100	to	109.75
	600	to	650 lbs.	96	to	111.25

Chicago Futures:

Live Cattle:	Dec	down	35	at	10495
	Feb	down	30	at	10580
Feeders:	Nov	up	25	at	11022
	Jan	up	40	at	11027

Cattle Comment
Cattle futures were mixed. Fund liquidation has driven the market lower in recent days. Sharp losses in corn are sparking worries about large feedlot placements this fall.

Hogs
Peoria: were     steady   at   45.5   to   46

Chicago Futures:	Dec	down	22	at	6817
	Feb	down	10	at	7612

Sheep
St. Paul sheep shorn slaughter lambs   at   n/a   to   - - -

Hogs Comment
Hogs were mostly lower. October hogs have seen weakness after failing to break through resistance at the top of the recent chart gap of $70.50. Upside potential is limited by heavy supplies of pork and weak wholesale values.

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Poultry  Date: September 05, 2008

Eggs

New York:	Ex. Lg. 131-135; Lg. 129-133; Med. 95-99;
Chicago:	Ex. Lg. 121-129; Lg. 119-127; Med. 86-94;

Eastern Region Turkeys

Hens:	8-16 lbs.	97-100
Toms:	16-24 lbs.	97-100

Delmarva Broilers
U.S. Grade A
Trade sentiment was about steady. Demand entering the weekend was light to fair with interest not meeting expectations. Supplies of all sizes were more than sufficient and often discounted to help move. In productions areas, live supplies were moderate at mostly desirable weights.