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19
Apr
2013
Soybean cash market and forward booking prices in Arkansas for April 15-19, 2013
Author: Bob Stark, Agricultural Economist

A 17 cent weekend loss proved to be no obstacle to the Arkansas 2012 cash soybean market this past week as the market opened at $14.05 and posted daily gains before peaking on Thursday to a Friday close of $14.40 (Figure 1).  The closing average daily price left the market 18 cents above the previous Friday closing level.  Market reports are being received at all fourteen regular markets for old crop prices.  Highest individual daily market price for the week by a wide margin was $14.78 at West Memphis on Friday.  Low individual daily price of the week was $13.68 on Monday at Jonesboro with Des Arc at $13.70.  Individual market quotes on the last trading day showed all fourteen markets above the $14.00 level, the first such Friday close since March 22.  Prices ranged from a low of $14.01 at Jonesboro to the $14.78 at West Memphis.  The closing day price spread represented an expansion of 15 cents over the previous week gap and now stands at 77 cents.

Fig. 1 - AR 2012 Crop Soybean Cash Market Prices (April 15-19, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (April 15-19, 2013)

New crop beans were much weaker in price over the past week and traded within a 15 cent price range.  The 2013 New Crop Booking Price market lost 24 cents over the weekend to open at $12.06, recovered 12 cents on Tuesday to a midweek plateau, and held its gains until a Friday decline (Figure 2).  New Crop beans closed on Friday at $12.10, a fall of 20 cents from the previous Friday close.  High individual daily market average for the week was $12.44 at Old Town/Elaine on Thursday with Helena following closely at $12.43.  The low market of the week was reported from Jonesboro for the eleventh straight week.  The price this time was $11.77 on Monday with Augusta at $11.79.  The last day of trading quotes across all fourteen state markets found four markets under the $12.00 level.  Ending prices for the week ranged from an $11.83 low at Jonesboro to a high of $12.33 at Old Town/Elaine.  Helena finished at $12.32.  These quotes left the statewide closing day price range at 50 cents, a 4 cent contraction from the previous end-week gap.

Fig. 2 - AR 2013 New Crop Soybean Booking Prices in Arkansas (April 15-19, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices in Arkansas (April 15-19, 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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