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08
Feb
2013
Soybean cash market and forward booking prices in Arkansas for Feb. 4-8, 2013
Author: Bob Stark, Agricultural Economist

A 15 cent weekend gain propelled the Arkansas 2012 cash soybean market back above the $15.00 mark this week to an eventual $15.14 statewide average on Tuesday before the rally ended and the market went into an accelerating decline through the remaining days of the week (Figure 1).  The closing Friday average of $14.71 represented a 22 cent decline from the prior Friday closing mark.  Highest individual daily market price for the week was $15.34 at both Blytheville and Osceola on Tuesday.  All fourteen markets submitted individual daily market quotes each day of the week.  The low individual daily price was $14.30 on Friday at Augusta.  Individual market quotes on the last trading day ranged from the low of $14.30 at Augusta to a high of $14.91 at both Blytheville and Osceola.  None of the fourteen markets finished the week above the $15.00 level for the first time since January 18.  The closing day price spread contracted slightly to 61 cents from the 63 cent range of the previous Friday, a 2 cent narrowing.

Graph of AR 2012 Crop Soybean Cash Market Prices (Feb. 4-8, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (Feb. 4-8, 2013)

The 2013 New Crop Booking Price market opened on Monday with an 11 cent weekend gain to a $13.43 statewide average and improved to $13.47 on Tuesday before starting an increasingly sharp decline, eventually falling to a Friday closing average of $12.81 (Figure 2).  The Friday closing statewide average represented a 51 cent loss from the prior Friday closing mark.  High individual daily market average for the week was $13.73 at both Helena and Old Town/Elaine on Tuesday.  Lowest individual daily quote was $12.52 reported at Jonesboro on Friday.  All fourteen state markets continued to provide New Crop Booking quotes.  The last day of trading quotes found nine of the fourteen state markets below the $13.00 level.  Reported market prices ranged from the $12.52 low at Jonesboro to the high of $13.07 at West Memphis, Helena and Old Town/Elaine.  These quotes put the statewide closing day price range at 55 cents, 5 cents wider than the previous end-of-week range.

Fig.Graph of AR New Crop Soybean Booking Prices (Feb. 4-8, 2013)

Fig. 2 – AR New Crop Soybean Booking Prices (Feb. 4-8, 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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