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29
Mar
2011
2011 New Crop Soybean Booking Prices (March 21 – 25, 2011)
Author: Bob Stark, Agricultural Economist

Forward booking prices for 2011 crop beans showed early promise for the week with a 15 cent weekend gain to open at $13.27 on Monday. Forward beans remained basically steady until a 12 cent Wednesday drop to the $13.14 daily low of the week, but recovered the next two days to close on Friday at $13.31 (Figure 2). The closing price for the week was a 19 cent gain over the prior Friday closing mark. West Memphis had the highest individual market quote of the week at $13.56 on Friday. No other individual market exceeded $13.45 during the entire week. The lowest price of the week was $12.93 at Wynne on Wednesday with Augusta posting $12.95. These two location quotes were the only market reports in the state under the $13.00 level during the week. The price margin premium on cash market old crop beans over new crop booking prices narrowed for the third straight week, falling dramatically from a 35 cent interval to only 14 cents, a 21 cent decrease from the previous week interval and primarily due to new crop price gains.

11 New Crop Soybean Booking Prices (3-21 to 3-25, 2011)

(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)


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