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29
Oct
2013
Soybean cash market and forward booking prices in Arkansas for Oct. 21-25, 2013
Author: Bob Stark, Agricultural Economist

Market reporting for the Arkansas soybean market returned to normal after parts of three weeks in Federal government/USDA shutdown.  The 2012 cash soybean market built on a 13 cent weekend gain that had it opening at a $13.04 statewide average on Monday and gradually moved higher through the remaining days of the week to a $13.19 statewide average high on Thursday before suffering a 10 cent Friday correction (Figure 1).  The market closed on Friday at $13.09, an 18 cent improvement over the previous Friday closing price.  Twelve major soybean markets submitted price quotes this past week with the high individual market daily quote at $13.41 from West Memphis on Thursday.  Low quote of the week was $12.67 at Des Arc on Tuesday.  Closing quotes on Friday across the twelve reporting markets ranged from a low of $12.75 at Augusta to a high of $13.27 at West Memphis.  Three state markets closed below $13.00.  These end-of-week quotes put the market price range at 52 cents, a 13 cent contraction from the previous end-of-week spread when the USDA market reports were just stabilizing from the shutdown. 

Fig. 1 - AR 2012 Crop Soybean Cash Market Prices for Oct. 21-25, 2013

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices for Oct. 21-25, 2013

New Crop Soybean Market trading moved similar to the old crop market with a 14 cent weekend gain to open at $13.04 on Monday.  Unlike the old crop market, new crop quotes took a slight dip on Tuesday before catching positive momentum that carried it higher through Thursday before a Friday correction (Figure 2).  The market reached a peak of $13.15 on Thursday, 4 cents less than the old crop market, and then suffered a 10 cent loss on Friday to a closing mark of $13.05, remaining 4 cents under the old crop price.  High individual daily market average for the week was $13.41 at West Memphis on Thursday, as nine of the thirteen reporting markets rose above the $13.00 level.  The low daily market price of the period was reported on Tuesday with $12.67 at Des Arc.  Ten markets providing both old crop and new crop booking quotes offered the same price for both crops.  The last day of trading quotes across state markets found ending prices ranging from a $12.75 low at Augusta to a $13.30 high at Old Town/Elaine.  These closing quotes left the statewide closing day price range at 55 cents, a 10 cent decrease from the previous week spread.

Fig. 2 - AR 2013 New Crop Soybean Booking Prices for Oct. 21-25, 2013

Fig. 2 – AR 2013 New Crop Soybean Booking Prices for Oct. 21-25, 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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