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23
Jul
2012
Soybean cash market and forward booking prices for July 16-20, 2012
Author: Bob Stark, Agricultural Economist

Powered by a 38 cent weekend increase from the previous Friday close, the 2011 soybean crop market opened on Monday with a statewide opening average of $16.36.  The market then surged higher each trading day of the week to a Friday closing mark of $17.58, a $1.60 cent overall improvement for the week (Figure 1).  All fourteen reporting markets ended the week above the $17.00 level.  Helena had the highest individual market price of the week at $17.90 on Friday with Blytheville and Osceola at $17.88.  Daily individual market low for the week was $15.92 reported at Jonesboro on Monday.  Last day individual quotes across all state markets ranged from $17.06 at Old Town/Elaine to the $17.90 reported at Helena.  The closing day price spread for the state was 84 cents, a 10 cent expansion from the previous Friday range.

AR 2011 Crop Soybean Cash Market Prices (July16-20, 2012)

Fig. 1

New Crop Booking Prices on the 2012 soybean crop posted a 37 cent improvement over the weekend to open with a statewide average of $15.96 on Monday.  New Crop initially hesitated to follow the old crop surge, holding steady on Tuesday, but then followed a straight-line climb for the remainder of the week (Figure 2).  Price finished the week at $16.92 on Friday, a $1.32 gain from the previous week closing price.  High individual daily market quote for the week was $17.09 at Helena on Friday.  West Memphis was right behind at $17.08.  The lowest individual daily average during the week was $15.74 on both Monday and Tuesday at Jonesboro.  Wynne was at $15.75 both days.  Five of the fourteen reporting markets ended the week above $17.00.  Despite the steep gains during the past week, the closing day range of market prices remained at 39 cents for the second straight week.  The $16.70 low at Jonesboro and the high of $17.09 at Helena formed the extremes of the range.

AR 2012 New Crop Soybean Booking Prices (July 16-20, 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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