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05
Oct
2012
Soybean cash market and forward booking prices in Arkansas for Oct. 1-5, 2012
Author: Bob Stark, Agricultural Economist

The market price reporting period for the 2011 soybean crop has ended and quotes on the 2012 crop for January 2013 delivery have begun.  Cash market price quotes in this edition for the 2012 crop pick up from the new crop soybean booking prices previously reported.  Compared to the booking price average from last Friday, 2012 crop cash markets opened 40 cents lower on Monday with a $15.42 statewide average.  An additional 28 cent decline on Tuesday was sustained through Wednesday before the market essentially recovered all of its losses on Thursday and held steady through Friday (Figure 1).  The closing mark on Friday was $15.40, a 42 cent decline from the previous Friday close, but only 2 cents under the Monday statewide average.  Old Town/Elaine had the highest individual market price of the week at $15.65 on Monday.  Daily individual market low for the week was $14.84 at Jonesboro on Tuesday.  Last day individual quotes were obtained from all fourteen state markets and ranged from $15.12 at Wynne to $15.62 at West Memphis. Those quotes put the closing day price spread for the state at 50 cents, a 9 cent widening from the previous Friday range.

Fig. 1

The new quotes of the week were on the 2012 crop for January 2013 delivery. The Monday statewide average for this market was $15.65 with all fourteen markets submitting price quotes (Figure 2). The market moved sharply lower on Tuesday with a 29 cent loss that held through Wednesday before the market regained strength to recover part of the losses and hold steady to the recovery through the Friday closing average. The reported statewide average on Friday was $15.55, an even 10 cents under its Monday opening average. High individual daily market quote for the week was $15.99 at Helena on Monday with Old Town/Elaine at $15.98. The lowest individual daily average was $14.90 at Jonesboro on Wednesday. Last day individual market quotes ranged from a low at Jonesboro of $15.09 to a high of $15.87 at Helena. Old Town/Elaine followed closely at $15.86. The closing quotes represented a 78 cent range of prices across the state. No comparison could be made since this was the first week of reporting for the January 2013 delivery market.

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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