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01
Jun
2012
Soybean cash market and forward booking prices in Arkansas for May 28-June 1
Author: Bob Stark, Agricultural Economist

The Memorial Day holiday weekend boosted the 2011 soybean crop market with a 5 cent gain to a Monday opening average of $13.79, but price turned lower like the previous week before stabilizing over the last two trading days (Figure 1).  The statewide average daily price fell to a low of $13.32 on Thursday before rising on Friday to close at $13.35, a 39 cent decline overall from the prior week closing average.  Only one of the fourteen reporting markets ended the week above $13.50.  West Memphis had the highest individual market price of the week at $14.04 on Tuesday.  Daily individual market low for the week was $13.08 at Augusta on Thursday.  Last day individual quotes across all state markets ranged from $13.12 at Augusta to $13.59 reported at Old Town/Elaine.  The closing price spread for the state narrowed two cents from the previous Friday to 47 cents.

AR 2011 Crop Soybean Cash Market Prices (May 28-June 1, 2012)

Fig. 1

New Crop Booking Prices on the 2012 soybean crop gained 5 cents over the holiday weekend and opened the week with a Tuesday statewide average of $12.97, but market price weakened steadily through the remainder of the week (Figure 2).  The new crop market finished at a weekly low of $12.60 on Friday, an overall 32 cent loss from the previous week closing price.  High individual daily market quote for the week was at Old Town/Elaine with $13.14 on Tuesday.  The lowest individual daily average during the week was $12.37 submitted on Friday at Jonesboro.  The fourteen reporting markets ended the week again with a range of 41 cents from the $12.37 low at Jonesboro to a high of $12.78 at Old Town/Elaine.  The closing price range was unchanged for the third consecutive week.

AR 2012 New Crop Soybean Booking Prices (May 28-June 1, 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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