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Soybean Cash Market & Forward Booking Prices in Arkansas – May 23-27, 2011
Author: Bob Stark, Agricultural Economist

The last full week of May trading on 2010 crop Arkansas cash market prices saw a 7 cent decline over the weekend to open at $13.60 on Monday followed by a week of strength, but no prominent gains (Figure 1, below).  The statewide average price had some mid-week gains, reaching $13.72 on Wednesday, before declining on Friday to $13.68, a gain of 1 cent from the previous week close.  Highest reported individual market daily average for the current week was $13.98 on Thursday at both Osceola and Blytheville.  No individual market high reached the $14.00 level for the third straight week.  The lowest individual market daily average was on Monday with both Jonesboro and Wheatley at $13.38.  The last day of trading found all Arkansas reporting markets between $13.44 and $13.93 to close the week, exactly the same range as the previous week. AR 2010 Crop Soybean Cash Market Prices (May 23-27, 2011)

Forward booking prices for 2011 crop beans did not suffer a weekend decline similar to the old crop market, opening on Monday at the same $13.22 level where they closed the previous week (Figure 2, below).  Forward booking price rose steadily each successive day for most of the trading week, reaching a high of $13.44 on Thursday, before slipping to $13.40 on Friday.  The closing mark represented an 18 cent improvement from the previous Friday closing mark.  West Memphis topped the individual market quotes at $13.65 on Thursday.  No other market exceeded $13.55.  Lowest daily price quote of the week came on Monday at Augusta with a price of $13.02 with Jonesboro reporting $13.06 on the same day.  The price margin premium on cash market old crop beans over new crop booking prices narrowed dramatically to a difference of 28 cents, a 17 cent decrease in the interval from the previous weekly closing prices.AR 2011 New Crop Soybean Booking Prices (May 23-27, 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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