Find It Here
Twitter update
Subscribe

Subscribe to Post Updates from Arkansas Row Crops


 

RSS AgNews
Quick Links
Agricultural Programs
19
Sep
2011
Soybean Notes Economics Section – Sept. 16, 2011
Author: Bob Stark, Agricultural Economist

SOYBEAN NOTES is a weekly newsletter focusing on all aspects of Arkansas soybean news.  This market economics component looks at cash market & forward pricing quotes from selected markets as reported to National Agricultural Statistics Service in Arkansas.

Sometimes in a trading week a trend is difficult to identify. The past week was clearly a “down” one. The 2010 soybean crop lost 28 cents over the weekend to post a $13.56 Monday statewide average (Figure 1). Market price lowered each day of the past week to a daily closing average of $13.00 on Friday. The closing day average was 84 cents under the previous Friday average trading price. Highest reported individual market daily average for the week was $13.61 at Helena, Old Town/Elaine, and Osceola on Monday.  Lowest individual market daily average fell under $13.00 as Augusta averaged $12.83 on Friday.  Osceola and Blytheville also ended the week under $13.00.  Last trading day quotes for the seven Arkansas markets still providing old crop quotes was $12.83 to $13.11. The overall closing price range widened by eight cents from the previous week gap.

Forward booking prices for 2011 crop beans fell even more than the old crop bean market losing 32 cents over the weekend to a Monday trading average of $13.53 (Figure 2). The new crop market moved lower each day of the past week, falling to a Friday closing average of $13.02. The closing day average represented an 83 cent decline from the previous Friday closing price. Old Town/Elaine and Osceola submitted the highest individual market quotes for the week, reporting $13.66 on Monday with several other markets also above the $13.60 level. Prices then continued to decline each day. Four markets finished the week under $13.00 with Jonesboro having the lowest daily average of the week at $12.82 on Friday. The price margin premium on cash market old crop beans over new crop booking prices had reversed in the previous trading week with new crop holding a one cent advantage. The relationship continued this week with the old crop at $13.00 and the new crop at $13.02, another one cent change.

 

(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.)


Save pagePDF pageEmail pagePrint page
«
»