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14
Jan
2013
Soybean cash market and forward booking prices in Arkansas for Jan. 1-11, 2013
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market began the new year with a 12 cent hangover loss from its December 31 yearend closing price.  The statewide market average on January 2 was $14.24.  Price fell sharply on the first Friday only to rebound strongly in Monday trading.  But the first full week of trading saw lower prices each subsequent day before reaching a $14.01 closing average to end the week, an overall loss of 35 cents from the December 31 closing average (Figure 1).  Highest individual daily market price for the first 11 days of 2013 was $14.66 at West Memphis on January 2.  The low individual daily price was $13.50 on January 4 at Jonesboro.  Individual market quotes on the last trading day were evenly split with half of the fourteen reporting markets above $14.00 and half below.  Price ranged from the low of $13.56 at Jonesboro with Des Arc at $13.58 and Augusta at $13.59 to a high of $14.43 at West Memphis.  The closing day price spread spanned a 93 cent range, up 11 cents from the yearend closing range.

Graph of AR 2013 New Crop Soybean Booking Prices (Jan. 1-11, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (Jan. 1-11, 2013)

Graph of AR 2012 Crop Soybean Cash Market Prices (Jan. 1-11, 2013)

Fig. 1-AR 2012 Crop Soybean Cash Market Prices (Jan. 1-11, 2013)

January 1 marked the beginning of 2013 New Crop Booking Price quotes.  The market opened on January 2 with a $12.75 per bushel statewide average.  Like the 2012 crop cash market, the New Crop price moved sharply lower on Friday, January 4.  Unlike the old crop cash market, New Crop beans recovered slowly but steadily each day through the middle of the first full week of trading before falling again to end the week (Figure 2).  High individual daily market average for the first eleven days of the year was $12.94 at both West Memphis and Old Town/Elaine on January 2, the first trading day.  Lowest individual daily quote was $12.26 reported by both Jonesboro and Wynne on January 11, the closing Friday.  All fourteen state markets provided New Crop Booking quotes.  The last day of trading quotes ranged from the $12.26 low at Jonesboro and Wynne to a high of $12.71 at West Memphis.  These quotes put the statewide closing day price range at 45 cents.

Graph of AR 2013 New Crop Soybean Booking Prices (Jan. 1-11, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (Jan. 1-11, 2013)

(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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