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05
Jul
2013
Soybean cash market and forward booking prices in Arkansas for July 1-5, 2013
Author: Bob Stark, Agricultural Economist

The past soybean trading week was interrupted for the Thursday Fourth of July holiday.  Market price rose 6 cents over the weekend and posted mostly higher daily averages through the broken week (Figure 1).  The Monday opening statewide average was $15.91.  A 2 cent Tuesday decline was more than offset on Wednesday and the market finished with a $16.06 Friday closing statewide average, 21 cents above the previous Friday closing mark.  The statewide daily averages became more suspect throughout the week as the number of reporting markets fell from eight on Monday to only two for the remainder of the week.  Highest individual daily market price reported over the past week was $16.13 at Little Rock on Friday.  Low individual daily price of the period was $15.65 on Monday at Augusta with Pine Bluff at $15.66.  Individual market quotes on the last trading day found only two reporting markets with the low of $15.98 at Wynne and the high of $16.13 at Little Rock, a 15 cent differential compared to the 42 cent previous Friday margin.

Fig. 1 - AR 2012 Crop Soybean Cash Market Prices (July 1-5, 2013)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (July 1-5, 2013)

The New Crop Booking Market lost ground over the weekend and then followed the old crop market for most of the week before tumbling sharply lower on Friday (Figure 2).    Market price lost 9 cents over the weekend, opening at $12.44.  Price rose to a weekly high of $12.52 on Wednesday before falling 23 cents on Friday trade to a closing average daily price of $12.29, 23 cents below the previous Friday close.  All fourteen soybean markets across the state are providing New Crop quotes.  High individual daily market average for the week was $12.71 at West Memphis on Wednesday with Helena at $12.70.  The low daily market price of the period was reported on Friday with $12.01 at Augusta.  Des Arc finished the week at $12.03.  The last day of trading quotes across state markets again found all of the fourteen markets below $13.00 and above $12.00.  Ending prices for the week ranged from the $12.01 low at Augusta to a $12.48 high at West Memphis.  These quotes left the statewide closing day price range at 47 cents, unchanged from the previous week.

Fig. 2 - AR 2013 New Crop Soybean Booking Prices (July 1-5, 2013)

Fig. 2 – AR 2013 New Crop Soybean Booking Prices (July 1-5, 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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