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22
Jun
2012
Soybean cash market and forward booking prices in Arkansas for June 18-22, 2012
Author: Bob Stark, Agricultural Economist

The 2011 soybean crop market opened the past week with an 8 cent gain from the previous Friday close at $13.74 and moved sharply higher to a $14.37 average on Wednesday before leveling off in the remaining days (Figure 1).  The statewide average daily price closed on Friday at $14.33, a 67 cent increase from the prior week closing average and the highest closing day average since May 4.  All fourteen reporting markets ended the week above the $14.00 level.  West Memphis had the highest individual market price of the week at $14.75 on Wednesday.  Daily individual market low for the week was $13.43 at Jonesboro on Monday.  Last day individual quotes across all state markets ranged from $14.02 at Jonesboro to the $14.68 reported at both West Memphis and Old Town/Elaine.  The closing day price spread for the state narrowed to 66 cents, 5 cents less than the previous Friday.

AR 2011 Crop Soybean Cash Market Prices (June 18-22, 2012)

Fig. 1

New Crop Booking Price movements on the 2012 soybean crop were more erratic than the old crop market after gaining 25 cents over the weekend to open at $13.42 on Monday.  Prices moved up further on both Tuesday and Wednesday to a mid-week high of $14.01, but then were up and down through the remaining trading days.  The market average on Friday posted a closing average of $13.81 (Figure 2).  The new crop market finish represented an overall 64 cent gain from the previous week closing price.  High individual daily market quote for the week was at $14.16 at both Old Town/Elaine and West Memphis with Helena just one cent lower.  The lowest individual daily average during the week was $13.23 submitted on Monday at Jonesboro with Wynne at $13.24.  The fourteen reporting markets all ended the week at or above $13.00 for the first time since May 11.  The closing day range of market prices was 37 cents from the $13.60 low at Jonesboro to a high of $13.97 at Helena, a change of one cent narrower compared to the previous week.

AR 2012 New Crop Soybean Booking Prices (June 18-22, 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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