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10
Sep
2012
Soybean cash market and forward booking prices in Arkansas for September 3-7, 2012
Author: Bob Stark, Agricultural Economist

The 2011 soybean crop market price fell 19 cents over August 25-26 and opened on Monday, August 27, at $17.27.  The next week saw the market moving mostly upward to an effective top of $17.67 that held over the weekend prior to Labor Day before entering a sharply downward week following Labor Day to a statewide average low of $17.17 on the last trading day (Figure 1).  The closing average represented a 29 cent decline from the August 24 Friday closing average.  During the two week period, Helena had the highest individual market price of the week at $17.83 on Tuesday following Labor Day.  Daily individual market low for the week was $16.93 at Augusta on the last Friday.  Last day individual quotes across the eight reporting state markets ranged from $17.30 at Helena to the $16.93 at Augusta.  Those quotes put the closing day price spread for the state at 37 cents, a 4 cent narrowing from the two-week previous Friday range.

Fig. 1 - AR 2011 Crop Soybean Cash Market Prices (September 3-7, 2012)

Fig. 1

The old crop pattern of a week up and a week down also appeared in the new crop booking price.  A 14 cent loss over the August 25-26 weekend was followed by a climb to $17.65 on the Tuesday following Labor Day.  The new crop market then proceeded to lose 44 cents to a closing Friday average of $17.21, a 13 cent fall from the August 24 Friday closing price (Figure 2).  High individual daily market quote for the two-week period was $17.82 at Helena on Tuesday following Labor Day.  The lowest individual daily average during the week was $16.93 at Augusta on Monday, August 27.  The closing day market price low was $16.94 at Augusta.  The closing day high was the $17.37 at Helena.  The range of last day prices narrowed 1 cent to 43 cents, compared to the August 24 Friday spread.

Fig. 2 - AR 2012 New Crop Soybean Booking Prices (Sept. 3-7, 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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