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03
Jan
2012
Soybean Cash Market and Forward Booking Prices in Arkansas for December 19-23, 2011
Author: Bob Stark, Agricultural Economist

Trading in the Arkansas 2011 soybean crop prior to Christmas opened with a 7 cent higher average on Monday and steadily climbed higher throughout the week (Figure 1).  The market average on Monday was $11.42 and moved higher on each trading day to a closing statewide daily average of $11.68 on Friday, a 33 cent overall rise from the previous week closing average.  Highest reported individual market daily average during the week was $11.88 at Old Town/Elaine on Friday with West Memphis at $11.87.  Individual low for the week was $11.07 on Monday in Wynne.  All individual daily market quotes during the week exceeded $11.00 and all reporting markets ended the week with Friday averages above $11.33.  Last weekly trading day quotes for all markets ranged from $11.33 to $11.88 per bushel as the gap remained unchanged from the previous week range of 55 cents.

AR 2011 Crop Soybean Cash Market Prices (Dec. 19-23, 2011)

Fig. 1

Price movements on the 2011 crop for January delivery remained slightly above the cash market price level with a parallel movement path (Figure 2).  The Monday statewide average of $11.48 was 7 cents above the prior Friday closing mark.  The January market posted further gains on each succeeding day of the week to a closing statewide average on Friday of $11.74, a 33 cent rise from the prior Friday mark.  Individual daily market quotes were lead by Old Town/Elaine at $11.88 on Friday with Blytheville, West Memphis, Helena, and Osceola all within 3 cents of the top.  Lowest individual daily average during the week was $11.07 at Wynne on Monday.  All markets ended the week at or above $11.73 except for Augusta and Wynne at $11.57 and $11.33 respectively.  The price margin for the January 2012 delivery market over the 2011 crop cash market remained 6 cents, $11.74 to 11.68, for the second consecutive week.

AR 2011 Crop Soybean Booking Prices-January 2012 Delivery (Dec. 19-23, 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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