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29
Mar
2013
Soybean cash market and forward booking prices in Arkansas for March 25-29, 2013
Author: Bob Stark, Agricultural Economist

The Arkansas 2012 cash soybean market lost 4 cents over the weekend break and opened trading on Monday at $14.47.  An early week rally moved the market 17 cents higher to a weekly peak of $14.64 on Wednesday before a major correction on Thursday drove the statewide average price down to $14.16 on Thursday as the market closed early for Good Friday.  The closing price represented an overall 35 cent net loss from the previous Friday closing average (Figure 1).  Highest individual daily market price for the week was $14.89 at Old Town/Elaine on Wednesday.  None of the nine state markets providing old crop price quotes were able to exceed the $15.00 level and two actually closed the week under $14.00.  Low individual daily price of the week was $13.88 on Thursday at Jonesboro with Des Arc at $13.90.  Individual market quotes on the last trading day ranged from the low of $13.88 at Jonesboro to a high of $14.40 at Old Town/Elaine.  The closing day price spread remained at 52 cents for the second straight week.

Graph of AR 2012 Crop Soybean Cash Market Prices (March 25-29, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (March 25-29, 2013)

The 2013 New Crop Booking Price market had a similar price track as Old Crop Beans for the shortened Good Friday week, but suffered a smaller Thursday loss to end the week.  New Crop beans lost 4 cents on Monday over the previous Friday close, but posted modest gains through Wednesday to a peak of $12.76 before suffering a major loss on Thursday to a closing mark of $12.50.  The closing quote left the market with a 12 cent net loss for the week compared to the closing price reported last Friday (Figure 2).  High individual daily market average for the week again reached an even $13.00 with Helena claiming the top spot on Wednesday.  The low market of the week was reported from Jonesboro for the eighth straight week.  This time, the price was $12.22 and shared with Augusta on Thursday.  The last day of trading quotes found all fourteen state markets below the $12.75 level.  Reported market prices ranged from the $12.22 low at both Jonesboro and Augusta to a high of $12.74 at Helena.  These quotes moved the statewide closing day price range 3 cents narrower at 52 cents compared to the previous end-week.

Graph of AR 2013 New Crop Soybean Booking Prices (March 25-29, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (March 25-29, 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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