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30
Nov
2012
Soybean cash market and forward booking prices in Arkansas for Nov. 26-30, 2012
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market started the past week after Thanksgiving with a 17 cent over-the-weekend gain after moving 26 cents higher during the shortened Thanksgiving trading week.  The Monday statewide average was $14.38 and another 24 cents were tacked on Tuesday before the market stabilized during mid-week trading.  The Friday average fell to $14.55, but still represented a gain of 34 cents from the last trading day before Thanksgiving (Figure 1).  Helena posted the highest individual market price of the week with $14.96 on Thursday.  West Memphis, Blytheville, and Old Town/Elaine all followed closely that day at $14.93.  Daily individual low for the week was $13.95 at Augusta on Monday with $13.98 reported that same day at Jonesboro.  Individual quotes on the last trading day were all above the $14.00 level and ranged from the low of $14.12 at Jonesboro to a high of $14.89 at Helena and Old Town/Elaine.  The quotes left the closing day price spread at 77 cents.

Stark Fig 1 11-26

Fig. 1

Quotes on the 2012 crop for January 2013 delivery strengthened over both weekends around the Thanksgiving holiday gaining 13 cents in the first weekend and 18 in the second to an opening statewide average of $14.54 on the past Monday.  The market rose another 24 cents on Tuesday across the state before gaining mid-week stability.  Friday saw a slight 8 cent decline to $14.69 for a closing statewide average (Figure 2).  High individual daily market quote for the week was $14.94 on Tuesday at both Old Town/Elaine and West Memphis.  The lowest individual daily average was $14.25 at Augusta on Monday.  The last day of trading quotes ranged from a $14.39 low at Augusta to a high of $14.89 at Old Town/Elaine.  These quotes left the statewide closing day price range at 60 cents, a 15 cent expansion from the November 16 Friday spread.  Only nine of the possible 14 markets are continuing to submit price quotes for January delivery.

Stark Fig 2 11-26

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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