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Soybean Cash Market and Forward Booking Prices in Arkansas (Dec. 5-9, 2011)
Author: Bob Stark, Agricultural Economist

The first full week of December cash market trading in the Arkansas 2011 crop saw price decline 8 cents over the weekend to a Monday opening average of $11.30 (Figure 1).  The market proceeded to post modest but steady gains through Thursday before making a sharp Friday downturn to a closing statewide daily average of $11.13, a 25 cent decline from the previous week closing average.  Highest reported individual market daily average for the week was $11.60 at West Memphis on Thursday with Helena, Old Town/Elaine, Blytheville, and Osceola all within 3 cents of the top mark.  The individual low for the week was on Friday at $10.77 in Wynne.  Eleven of the fourteen reporting markets ended the week with Friday averages above the $11.00 level.  Last weekly trading day quotes for the fourteen Arkansas markets ranged from $10.77 to $11.34 per bushel as the gap narrowed 13 cents from the previous week.

AR 2011 Crop Soybean Cash Market Prices (Dec. 5-9, 2011)

Fig. 1

Price movements on the 2011 crop for January delivery remained above the cash market price level, but followed a similar movement path (Figure 2).  The Monday statewide average of $11.37 was a 10 cent decline from the prior Friday closing mark.  The January market had gains through Thursday before encountering a sharp decline on Friday.  The closing statewide average on Friday was $11.20, a 27 cent fall from the prior Friday mark.  Individual daily market quotes were lead by West Memphis and Old Town/Elaine at $11.60 on Thursday with Blytheville, Helena, and Osceola within 3 cents of the top.  The lowest individual daily average during the week was $10.77 at Wynne on Friday.  The Wynne market was the only individual market to end the week under $11.00.  The price margin for the January 2012 delivery market over the 2011 crop cash market fell 2 cents to 7 cents, $11.20 to 11.13, the second consecutive week where the January vs. Cash price gap narrowed.

AR 2011 Crop Soybean Booking Prices - Jan. 2012 Delivery (Dec. 5-9, 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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