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04
Mar
2013
Soybean cash market and forward booking prices in Arkansas for March
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market lost 10 cents over the weekend and posted a statewide average of $14.65 on Monday.  The market had further weakness through Tuesday before gaining midweek steam and moving to a Thursday high of $14.84.  Most of the week’s gains and losses were offset on Friday as the market fell to a closing statewide average of $14.68, a 7 cent decline from the previous Friday closing average (Figure 1).  Highest individual daily market price for the week was $15.04 at West Memphis, Little Rock, and Old Town/Elaine on Thursday with Blytheville and Osceola trailing closely at $15.03.  These five markets on Thursday were the only quotes over $15.00 for the entire week.  The low individual daily price was $14.19 on Tuesday at Augusta.  All markets ended the week under the $15.00 level.  Individual market quotes on the last trading day ranged from a low of $14.27 at Jonesboro to a high of $14.95 at West Memphis, Little Rock, and Old Town/Elaine.  The closing day price spread of 68 cents represented a widening of 5 cents from the previous Friday interval.

Figure 1. Arkansas 2012 Crop Soybean Cash Market Prices (Feb. 25-March1, 2013)

Figure 1. Arkansas 2012 Crop Soybean Cash Market Prices (Feb. 25-March1, 2013)

The 2013 New Crop Booking Price market had less volatility than the old crop market. After opening on Monday at a $12.64 statewide average, 1 cent over the previous Friday close, the market lost 8 cents on Tuesday and then traded in a 3 cent interval for the remainder of the week (Figure 2). The Friday closing statewide average was $12.59, a 4 cent decline from the previous Friday closing mark. High individual daily market average for the week was $12.91 at Old Town/Elaine on Monday. The past week was the first since January 11 where no individual market exceeded $13.00. The low market of the week was again reported from Jonesboro with a price of $12.27 on Wednesday. The last day of trading quotes found all fourteen state markets below the $12.90 level. Reported market prices ranged from a $12.31 low at Jonesboro to a high of $12.86 at Old Town/Elaine. These quotes moved the statewide closing day price range to 57 cents, 2 cents wider than the previous end-of-week gap.

Figure 1. Arkansas 2013 New Crop Soybean Booking PRices (Feb. 25-March 1)

Figure 1. Arkansas 2013 New Crop Soybean Booking PRices (Feb. 25-March 1)


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