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18
Mar
2013
Soybean cash market and forward booking prices for March 15-18, 2013
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market opened 5 cents lower following the weekend with a $14.93 opening statewide average on Monday and then moved steadily lower each trading day of the week.  The market closed Friday with a closing statewide average of $14.37, a 61 cent fall from the previous Friday closing average (Figure 1).  Highest individual daily market price for the week was $15.25 at West Memphis on Monday.  Of equal interest, five markets entirely stopped providing old crop price quotes.  The low individual daily price was $14.09 on Friday at Jonesboro with Des Arc at $14.11 on the same day.  Individual market quotes on the last trading day ranged from the low of $14.09 at Jonesboro to a high of $14.66 at Old Town/Elaine.  The closing day price spread was only 57 cents, a rather severe narrowing of 31 cents from the closing day distribution of the previous week.  The market concluded the week with only nine of the fourteen markets still providing old crop price quotes.

Graph of AR 2012 Crop Soybean Cash Market Prices (March 11-15, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (March 11-15, 2013)

The 2013 New Crop Booking Price market had less weakness than the old crop market during the past week.  New Crop beans actually gained 2 cents on Monday over the previous Friday close before moving 7 cents lower on Wednesday and then remaining fairly steady for the remainder of the week (Figure 2).  The Monday and Tuesday statewide average was $12.68, 2 cents over the previous Friday close.  Price eventually declined to a closing Friday level of $12.59, 9 cents under the Monday average and 7 cents below the previous Friday closing mark.  High individual daily market average for the week was $12.95 at Old Town/Elaine on both Monday and Tuesday.  No daily market quotes were submitted above $13.00 on any day during the week.  The low market of the week was reported from Jonesboro for the sixth straight week.  This time, the price was $12.30 on Thursday.  The last day of trading quotes found all fourteen state markets well below the $13.00 level.  Reported market prices ranged from a $12.31 low at Jonesboro to a high of $12.86 at Old Town/Elaine.  These quotes held the statewide closing day price range unchanged at 55 cents.

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

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (March 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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