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25
Jan
2013
Soybean cash market and forward booking prices in Arkansas for Jan. 21-25, 2013
Author: Bob Stark, Agricultural Economist

A 22 cent gain over the extended weekend that included the Martin Luther King holiday put the Arkansas 2012 cash soybean market at a Tuesday statewide average of $14.76.  The market sagged somewhat lower over the midweek trading days before rallying to a closing Friday average of $14.69 (Figure 1).  The closing average left the market with an overall gain of 15 cents from the prior Friday closing mark.  Highest individual daily market price for the abbreviated week was $15.14 at West Memphis on Friday.  Only seven individual daily market quotes exceeded $15.00 during the week.   The low individual daily price was $14.22 on Thursday at Augusta.  Five of the fourteen state markets had not been providing quotes in the previous week, but all resumed in this week except Blytheville.  Individual market quotes on the last trading day ranged from a low of $14.28 at Augusta to the high of $15.14 at West Memphis.  The closing day price spread spanned an 86 cent range, up 9 cents from the prior week closing range.

Graph of AR 2012 Crop Soybean Cash Market Prices (Jan. 21-25, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (Jan. 21-25, 2013)

The 2013 New Crop Booking Price market saw even less variability than the old crop cash market during the shortened week.  The statewide average began at $13.03 on Monday, up 25 cents from the prior Friday closing mark and the first time that this statewide average had exceeded the $13.00 level.  New Crop price fell back 7 cents on Wednesday and had little movement through the remaining trading days with Friday at $12.97, a 19 cent improvement from the prior Friday close (Figure 2).  High individual daily market average for the week was $13.28 at both Helena and Old Town/Elaine on Tuesday.  Lowest individual daily quote was $12.63 reported at Wynne on Friday.  All fourteen state markets continued to provide New Crop Booking quotes.  The last day of trading quotes ranged from the $12.63 low at Wynne to the high of $13.25 at Helena.  West Memphis and Old Town/Elaine followed closely at $13.23.  These quotes put the statewide closing day price range at 60 cents, 10 cents wider than the previous end-of-week range.

Graph of AR 2013 New Crop Soybean Booking Prices (Jan. 21-25, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (Jan. 21-25, 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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