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13
Jul
2012
Soybean cash market and forward booking prices in Arkansas for July 9-13, 2012
Author: Bob Stark, Agricultural Economist

A huge 41 cent weekend increase from the previous Friday close sent the 2011 soybean crop market over the $16.00 mark with a Monday statewide opening average of $16.09.  The market then turned lower for most of the week before rallying on Friday to close at $15.98, a 30 cent overall improvement for the week (Figure 1).  Seven of the fourteen reporting markets ended the week above the $16.00 level.  Helena had the highest individual market price of the week at $16.40 on Monday with Blytheville and Osceola at $16.38.  Daily individual market low for the week was $15.31 reported at Jonesboro on Wednesday.  Last day individual quotes across all state markets ranged from $15.54 at Jonesboro to the $16.28 reported at Helena.  The closing day price spread for the state was 74 cents, a second week of 4 cent widening from the previous Friday range.

AR 2011 Crop Soybean Cash Market Prices (July 9-13, 2012)

Fig. 1

New Crop Booking Prices on the 2012 soybean crop posted a 42 cent improvement over the weekend followed by a slump through midweek, but recovered more strongly than the old crop market to post an overall gain for the in-week trading (Figure 2).  New Crop opened at $15.53 on Monday.  Prices declined to a daily low of $15.29 on Wednesday before a two day rally to close the week at $15.59, a 48 cent improvement from the previous week closing price.  High individual daily market quote for the week was $15.76 at Helena on Friday.  The lowest individual daily average during the week was $15.07 submitted on Wednesday at Jonesboro.  As these prices imply, all markets remained above the $15.00 level throughout the past week.  The fourteen reporting markets also all ended the week at or above $15.00 for the first time in the season.  The closing day range of market prices was 39 cents from a $15.37 low at both Wynne and Jonesboro to the high of $15.76 at Helena, a 2 cent wider gap than the previous week.

AR 2012 New Crop Soybean Booking Prices (July 9-13, 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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