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07
Jun
2013
Soybean cash market and forward booking prices in Arkansas for June 3-7, 2013
Author: Bob Stark, Agricultural Economist

The biggest excitement this week for the Arkansas 2012 cash soybean market was the 20 cent weekend gain to a Monday opening average of $15.58.  The remaining week of trading saw little market movement as price traded within an 8 cent range and mostly drifted lower (Figure 1).  The Friday closing statewide average was $15.50, retaining 12 cents of the previous weekend gain.  Despite the late weakness, the overall gain extended the market streak of weekly gains to eight over the past nine weeks of trading.  Highest individual daily market price reported over the past week was $15.76 at West Memphis on Monday with Blytheville, Helena, and Osceola all at $15.74.  Low individual daily price of the period was $15.22 on Friday at Augusta.  Individual market quotes on the last trading day found all markets trading in the lower portion of the $15.00 level.  Prices ranged from the $15.22 low at Augusta to $15.64 at Blytheville, Helena, and Osceola.  The closing day price spread was 42 cents, a 4 cent narrowing from the previous Friday closing margin.

Fig. 1 - AR 2012 Crop Soybean Cash Market Prices (June 3-7, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (June 3-7, 2013)

Unlike the steadiness of the Old Crop Soybean Market, new crop beans had considerable movement during the past week.  The market enjoyed a 22 cent gain over the weekend to post a $13.27 statewide average on Monday.  Price then proceeded to fall to a low average of $13.01 on Wednesday before recovering all of its losses to finish on Friday at $13.31, an overall 26 cent gain over the previous Friday close (Figure 2).  High individual daily market average for the week was $13.51 at Helena on Friday with West Memphis at $13.50.  The low daily market price of the period was reported on Wednesday with $12.75 at both Augusta and Des Arc.  The last day of trading quotes across state markets found all fourteen markets above the $13.00 level.  Ending prices for the week ranged from a $13.05 low at both Augusta and Des Arc to the $13.51 high at Helena.  These quotes left the statewide closing day price range at 46 cents, unchanged from the end-week gap of the past two weeks.

Fig. 2 - AR 2013 New Crop Soybean Booking Prices (June 3-7, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (June 3-7, 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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