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Soybean Cash Market and Forward Booking Prices in Arkansas (December 12-16, 2011)
Author: Bob Stark, Agricultural Economist

Trading in the Arkansas 2011 soybean crop opened with a 5 cent higher average on Monday, survived a midweek drop in price, and rebounded to close the week with overall gains (Figure 1).  The market average on Monday was $11.18 and moved still higher on Tuesday before falling sharply to $11.05 on Wednesday.  The market climbed higher on each of the remaining trading days to a closing statewide daily average of $11.35 on Friday, a 22 cent rise from the previous week closing average.  Highest reported individual market daily average for the week was $11.55 at Old Town/Elaine on Friday with Osceola one cent less and West Memphis and Helena at $11.53.  Individual low for the week was $10.70 on Wednesday in Wynne.  All reporting markets ended the week with Friday averages above $11.00.  Last weekly trading day quotes for all markets ranged from $11.00 to $11.55 per bushel as the gap narrowed another 2 cents from the previous week range.

AR 2011 Crop Soybean Cash Market Prices (Dec. 12-16, 2011)

Fig. 1

Price movements on the 2011 crop for January delivery remained slightly above the cash market price level while the movement path was similar (Figure 2).  The Monday statewide average of $11.25 was 5 cents above the prior Friday closing mark.  The January market had further gains on Tuesday before a sharp Wednesday decline to $11.12.  The market moved higher over the remaining two days of trading to a closing statewide average on Friday of $11.41, a 21 cent rise from the prior Friday mark.  Individual daily market quotes were lead by Old Town/Elaine at $11.57 on Friday with Blytheville, West Memphis, Helena, and Osceola all within 5 cents of the top.  Lowest individual daily average during the week was $10.70 at Wynne on Wednesday.  All markets ended the week at or above $11.00.  The price margin for the January 2012 delivery market over the 2011 crop cash market fell 1 cent to 6 cents, $11.41 to 11.35, the third consecutive week where the January vs. Cash price gap narrowed.

AR 2011 Crop Soybean Booking Prices - Jan. 2012 Delivery (Dec. 12-16, 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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