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24
Aug
2012
Soybean cash market and forward booking prices in Arkansas for Aug. 20-24, 2012
Author: Bob Stark, Agricultural Economist

The 2011 soybean crop market enjoyed a 38 cent improvement over the weekend and opened on Monday with an average of $16.96.  Price moved sharply higher on Tuesday, gaining 47 cents more before generally going steady for the remainder of the week to a Friday closing statewide average of $17.46, an 88 cent improvement from the prior Friday closing average and the highest daily average since July 20 (Figure 1).  Helena had the highest individual market price of the week at $17.59 on Friday.  Daily individual market low for the week was $16.67 at Augusta on Monday.  Last day individual quotes across the eight reporting state markets ranged from $17.59 at Helena to $17.18 at Augusta.  Those quotes put the closing day price spread for the state at 41 cents, an 8 cent narrowing from the previous Friday range.

Fig. 1

Fig. 1

The New Crop Booking Prices movements on the 2012 soybean crop again closely followed the path of the old crop market.  The new crop booking price again duplicated the 38 cent weekend movement of the old crop, an increase, and opened at a statewide average of $16.83 on Monday.  The New Crop daily average advanced another 49 cents on Tuesday before going generally steady for the remainder of the week to a Friday closing average of $17.34, an 89 cent gain from the previous week closing price and the highest daily quote of the year (Figure 2).  High individual daily market quote for the week was $17.56 at West Memphis on Tuesday.  The lowest individual daily average during the week was $16.60 at Augusta on Monday.  The closing day market price low was $17.10 at Wynne with both Jonesboro and Augusta at $17.11.  The closing day high was the $17.54 at Helena.  West Memphis followed closely at $17.53.  The range of last day prices remained at 44 cents, unchanged from the previous Friday spread.

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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