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18
Feb
2013
Soybean cash market and forward booking prices in Arkansas for Feb.
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market opened trading on Monday with a statewide average of $14.46, 25 cents under the previous Friday close.  Price decline further on Tuesday and remained basically stagnant through the remaining trading days to a Friday statewide average of $14.39, a decline of 32 cents from the previous Friday closing average (Figure 1).  Highest individual daily market price for the week was $14.70 at both Blytheville and Osceola on Monday.  All fourteen markets submitted individual daily market quotes each day of the week.  The low individual daily price was $13.95 on Thursday at Augusta.  Augusta also had the only other sub-$14.00 daily average of the week with $13.98 on Tuesday.  Individual market quotes on the last trading day ranged from the low of $14.02 at Augusta to a high of $14.65 at West Memphis.  None of the fourteen markets finished above the $15.00 level for the second straight week.  The closing day price spread returned to 63 cents, a widening of 2 cents compared to the previous Friday.

Graph of AR 2013 Crop Soybean Cash Market Prices (Feb. 11-15, 2013)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (Feb. 11-15, 2013)

The 2013 New Crop Booking Price market absorbed a 13 cent loss over the weekend and opened on Monday at a $12.68 statewide average.  A small gain on Tuesday was quickly conceded and the market moved lower each remaining day of trading to a Friday closing average of $12.61 (Figure 2).  The Friday closing statewide average represented a 20 cent loss from the prior Friday closing mark.  High individual daily market average for the week was $13.01 at Helena, West Memphis, and Old Town/Elaine on Tuesday, the only daily individual market quotes above the $13.00 level for the week.  Lowest individual daily quote was $12.32 reported at Jonesboro on Friday.  All fourteen state markets continued to provide New Crop Booking quotes.  The last day of trading quotes found all fourteen state markets below the $13.00 level.  Reported market prices ranged from the $12.32 low at Jonesboro to a high of $12.87 at West Memphis, Helena and Old Town/Elaine.  These quotes kept the statewide closing day price range at 55 cents, exactly equal to the previous end-of-week gap.

Graph of AR 2013 New Crop Soybean Booking Prices (Feb. 11-15, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (Feb. 11-15, 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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