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27
Jan
2012
Soybean Cash Market and Forward Booking Prices in Arkansas for January 23-27, 2012
Author: Bob Stark, Agricultural Economist

The Arkansas 2011 soybean crop market resumed full week trading with an uneventful price movement pattern.  Trading opened strong with a $12.24 statewide average on Monday, but stayed within a 10 cent range all week before closing Friday at a $12.28 average (Figure 1).  The closing market average represented a 35 cent improvement from the prior Friday closing mark.  Highest reported individual market daily average during the week was $12.58 at Old Town/Elaine on Thursday.  No other market had a daily quote within 5 cents of this top.  Individual market daily low for the week was $11.88 at Jonesboro on Wednesday.  Jonesboro was the only market with all daily quotes under $12.00 for the week.  Last individual trading day quotes for all markets ranged from $11.93 at Jonesboro to $12.54 per bushel at Old Town/Elaine as the spread increased from 58 cents to 61 cents, the third straight week of increase.

AR 2011 Crop Soybean Cash Market Prices (Jan. 23-27, 2012)

Fig. 1

The New Crop Booking Prices on the 2012 soybean crop showed more strength than the old crop cash market with a strong opening day and steady, modest gains each remaining day of the week (Figure 2).  The market opening day average was $11.85, 24 cents above the previous Friday closing average.  Daily quotes climbed to a weekly high mark of $12.04 on Friday, a 24 cent overall improvement from the previous Friday closing price.  Individual daily market quotes were led by Old Town/Elaine at $12.32 on both Thursday and Friday with West Memphis following closely at $12.30 on Friday.  Despite the overall daily improvement, four of the nine individual reporting markets still had all trading day averages below $12.00 for the week.  Lowest individual daily average during the week was $11.63 at Wynne on Monday with Jonesboro at $11.66.  The price range to end the week for all individual markets reached from $11.80 at Jonesboro to the $12.32 at Old Town/Elaine.  The 52 cent range represented a 7 cent increase from the previous week closing day.

AR 2012 New Crop Soybean Booking Prices (Jan. 23-27, 2012)

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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