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06
Jun
2011
Soybean Cash Market & Forward Booking Prices in Arkansas – May 30-June 3, 2011
Author: Bob Stark, Agricultural Economist

The extended Memorial Day weekend cost the 2010 crop Arkansas cash market price 3 cents from the previous Friday close as the market opened at $13.65 on Tuesday (Figure 1, below).  The statewide average price posted sizeable gains each remaining day of the week to a Friday closing mark of $14.09, a gain of 41 cents from the previous week close.  The closing price level was the first to exceed $14.00 since March 4.  Highest reported individual market daily average for the current week was $14.32 on Friday at both Osceola and Blytheville.  The only other individual market near that level was West Memphis at $14.29.  Lowest individual market daily average was on Tuesday with both Jonesboro and Wheatley at $13.40.  Des Arc reported $13.44 on the same day.  The last day of trading found all Arkansas reporting markets between $13.91 and $14.32 to close the week, an 8 cent narrower range than the previous week.

AR 2010 Crop Soybean Cash Market Prices - May 30-June 3, 2011

Forward booking prices for 2011 crop beans lost 5 cents over the extended Memorial Day weekend, opening on Tuesday at $13.35 (Figure 2, below).  Forward booking price rose steadily each successive day for the entire remaining trading week, reaching a high of $13.68 on Friday.  The closing mark represented a 28 cent improvement from the previous Friday closing mark.  West Memphis topped the individual market quotes at $13.82 on Friday with Helena at $13.80.  Lowest daily price quote of the week came on Tuesday at Augusta with a price of $13.15.  Jonesboro was the only individual market price close to the low, reporting $13.19 on the same day.  The price margin premium on cash market old crop beans over new crop booking prices expanded to 41 cents, a 13 cent increase in the interval from the previous weekly closing prices.

AR 2011 New Crop Soybean Booking Prices - May 30-June 3, 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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