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02
May
2011
Soybean Cash Market & Forward Booking Prices in Arkansas – April 25-29, 2011
Author: Bob Stark, Agricultural Economist

Arkansas cash market trading of the 2010 crop opened strongly with a 10 cent rise over the weekend to a Monday opening price of $13.76 (Figure 1). Trading quickly slid lower throughout the week before making a sharp recovery on Friday. Price bottomed at $13.36 on Thursday before rising 43 cents on Friday to close at $13.79, a gain of 13 cents from the previous week close. High individual market daily average for the current week was $14.04 on Friday at both Blytheville and Osceola, the first and only daily prices above $14.00 after three full weeks of sub-$!4.00 trading. West Memphis and Helena were next highest for the week with $13.92 on the same day. The lowest individual market daily average was on Thursday with $13.14 reported at both Jonesboro and Wheatley. The last day of trading found all Arkansas reporting markets between $13.57 and $14.04 to close the week.

Figure 1

 

Figure 2

Forward booking prices for 2011 crop beans did not have the weekend gains of the old crop market opening on Monday as steady with the prior week close of $13.54 (Figure 2). Forward booking price did move lower throughout the week to an eventual Thursday low of $13.09 before rallying on Friday to close the week at $13.45, an overall 9 cents under the previous Friday closing mark. West Memphis topped the individual market quotes at $13.75 on Monday. Lowest daily price quote of the week came on Thursday at Augusta with a price of $12.90. All markets finished the week above $13.26 topped by West Memphis at $13.66. The price margin premium on cash market old crop beans over new crop booking prices expanded further to 34 cents, a 22 cent widening of the interval from the previous weekly closing prices.

(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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