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11
Mar
2013
Soybean cash market and forward booking prices in Arkansas for March 4-8, 2012
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market turned around its previous week pattern by gaining 22 cents over the weekend to an opening statewide average of $14.90 on Monday.  The market continued to post daily gains through Thursday before declining on Friday to a closing statewide average of $14.98, a 30 cent improvement over the previous Friday closing average (Figure 1).  Highest individual daily market price for the week was $15.84 at Little Rock on Thursday.  Most daily quotes remained under $15.45.  The low individual daily price was $14.45 on Monday at Jonesboro with Des Arc at $14.47 on the same day.  Six of the fourteen reporting markets ended the week above the $15.00 level.  Individual market quotes on the last trading day ranged from a low of $14.54 at Jonesboro to a high of $15.42 at Blytheville, Helena, and Osceola, three completely different locations from the three posting the previous week ending high.  The closing day price spread of 88 cents represented a widening of 20 cents from the previous Friday interval.

Graph of AR 2012 Crop Soybean Cash Market Prices for March 4-8, 2013

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices for March 4-8, 2013

The 2013 New Crop Booking Price market pattern was one of the more curious of the season.  The market opened on Monday at a $12.67 statewide average, 8 cents over the previous Friday close.  Price slowly moved higher to a Wednesday peak of $12.77 before slowly moving back down to finish at $12.66, one cent under the Monday average and 7 cents above the previous Friday closing mark.  High individual daily market average for the week was $13.04 at Old Town/Elaine on Wednesday.  Only five other daily market quotes were submitted above $13.00 during the week.  The low market of the week was reported from Jonesboro for the fifth straight week.  This time, the price was $12.38 on Friday.  The last day of trading quotes found all fourteen state markets well below the $13.00 level.  Reported market prices ranged from a $12.38 low at Jonesboro to a high of $12.93 at Old Town/Elaine.  These quotes moved the statewide closing day price range to 55 cents, 2 cents narrower than the previous end-of-week gap.

Graph of AR 2013 New Crop Soybean Booking Prices for March 4-8, 2013

FIg. 2 – AR 2013 New Crop Soybean Booking Prices for March 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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