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Agricultural Programs
03
Aug
2012
Soybean cash market and forward booking prices in Arkansas for July 30 – August 3, 2012
Author: Bob Stark, Agricultural Economist

The 2011 soybean crop market enjoyed a 42 cent improvement from the weekend as it posted a $17.07 statewide average on Monday.  The gain was quickly washed away as the market moved steadily lower each trading day of the week before mounting a slight rally on Friday for a closing statewide average of $16.48 (Figure 1).  The closing mark represented a 17 cent decline from the previous Friday closing mark.  Perhaps greater concern was shown as no trading day had quotes from all fourteen established markets and the week closed with only eight reporting markets on Friday.  Little Rock had the highest individual market price of the week at $17.46 on Monday.  Daily individual market low for the week was $16.20 at Augusta on Thursday.  Last day individual quotes across the eight reporting state markets ranged from $16.69 at West Memphis to $16.32 at Augusta.  The closing day price spread for the state was 63 cents, a 2 cent expansion from the previous Friday range.

Fig. 1

Fig. 1

New Crop Booking Prices on the 2012 soybean crop matched the old crop 42 cent gain over the weekend to open with a statewide average of $16.48 on Monday.  New Crop daily averages moved lower through Thursday before rallying 12 cents to a Friday closing average of $16.31, a 25 cent gain from the previous week closing price (Figure 2).  High individual daily market quote for the week was $16.65 at Helena on Monday.  The lowest individual daily average during the week was $15.95 at Wynne on Thursday, the only individual market report under $16.00 during the week.  Unlike the old crop market, all locations provided reports each day.  The closing day market prices varied from a $16.07 low at Wynne to a $16.45 high at Helena.  Closely following the high market were Old Town/Elaine at $16.44 and West Memphis at $16.43.  The range of last day prices narrowed to 38 cents, a 5 cent decrease from the previous Friday quotes.

Fig. 2

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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