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04
Nov
2011
Soybean Cash Market and Forward Booking Prices in Arkansas – Oct. 31-Nov. 4, 2011
Author: Bob Stark, Agricultural Economist

The 2011 soybean crop statewide average price fell 9 cents over the weekend to a Monday average of $12.03 (Figure 1).  A continued price decline was seen on Tuesday before the market began climbing to a weekly high of $12.18 on Thursday.  A decline on Friday left the statewide average at $12.12 per bushel, unchanged from the previous Friday average trading price.  Highest reported individual market daily average for the uneven week was $12.37 at both Pendleton and Old Town/Elaine on Thursday.  Wynne reported the weekly low with $11.49 on both Tuesday and Wednesday.  Twelve of the fourteen reporting markets were above $12.00 to close the week with Jonesboro just under at $11.97.  Last weekly trading day quotes for the fourteen Arkansas markets ranged from $11.67 to $12.31 per bushel as the gap widened by 5 cents.

AR 2011 Crop Soybean Cash Market Prices - Oct. 31-Nov. 4, 2011

Fig. 1

The new market price quotations on the 2011 crop for January delivery opened Monday with a statewide daily average of $12.23, a 9 cent loss from the previous Friday closing mark.  January delivery beans had similar losses to the cash market early in the week, but failed to make a comparable rally with the Friday closing average at $12.25, a 7 cent loss for the week compared to the prior Friday mark (Figure 2).  The individual daily market quotes were topped by West Memphis and Old Town/Elaine at $12.47 on Thursday.  The lowest individual daily average during the week was $11.55 reported on both Tuesday and Wednesday at Wynne.  The Wynne market again finished the week as the only market under $12.00 with an $11.73 daily average on Friday.  The price margin for the January 2012 delivery market over the 2011 crop cash market continued to fall, shrinking to 13 cents after a gap of 20 cents last week.

2011 Crop Soybean Booking Prices - January 2012 Delivery - Oct. 31-Nov. 4, 2011

Fig. 2

(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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