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Soybean cash market and forward booking prices in Arkansas for Dec. 17-21, 2012
Author: Bob Stark, Agricultural Economist

Down the drain went the Arkansas 2012 cash soybean market for most of the past week.  The Monday opening statewide average of $15.12 was 1 cent above the previous Friday closing mark, but the market quickly began to fall steadily each trading day.  Only a 12-22 cent rally on Friday broke the downward trend.  The Friday closing average was $14.46, a loss of 65 cents from the previous Friday closing mark (Figure 1).  West Memphis posted the highest individual daily market price of the week at $15.53 on Monday.  The lowest market price of the week was $13.81 at Jonesboro on Thursday with Des Arc following closely at $13.83.  Individual quotes on the last trading day had all fourteen reporting markets at or above $14.00.  Price ranged from the low of $14.03 at Jonesboro to a high of $14.85 at both Blytheville and West Memphis.  The closing day price spread widened 3 cents from the previous week to an 82 cent range.

AR 2012 Crop Soybean Cash Market Prices (Dec. 17-21, 2012)

Fig. 1

Arkansas soybean cash market losses carried over to the 2012 crop for January 2013 delivery market although not as large in size.  The forward booking market opened the week at $15.27, unchanged from the prior Friday average.  The market deteriorated sharply through the week before enjoying a 10-22 cent rally on Friday.  The statewide average for the last trading day was $14.62 in the forward booking market, a 55 cent decline from the previous Friday mark (Figure 2).  High individual daily market quote published by NASS for the week was $15.68 on Thursday at West Memphis.  Given the reported daily trends, that quote might have been an error with $14.68 the more likely price at that location.  The lowest individual daily average was $14.17 at Augusta on Thursday.  The last day of trading quotes ranged from a $14.27 low at Augusta to the high of $14.85 at West Memphis.  These quotes put the statewide closing day price range at 58 cents, an 8 cent widening from the previous Friday spread.

AR Crop Soybean Booking Prices - Jan. 2013 Delivery (Dec. 17-21, 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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