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14
Jan
2014
Soybean cash market and forward booking prices in Arkansas for Jan. 6-10, 2014
Author: Bob Stark, Agricultural Economist

The 2012 old crop cash market gained 7 cents over the weekend and opened on Monday at $13.17.  Despite the strong weekend gain, the market never fully got momentum at any time during the week and closed on Friday at a statewide average of $13.18, just 8 cents above the previous Friday closing average (Figure 1).  Throughout the week, the market posted daily averages within a 10 cent range with basically steady trading.  The high individual market daily quote was $13.58 on Friday at West Memphis with Old Town/Elaine one cent lower.  Low quote of the period was $12.61 at Jonesboro on Wednesday.  Closing quotes across all reporting markets ranged from a $12.71 low at Jonesboro to the $13.58 high at West Memphis.  These end-of -week quotes left the market price range at 87 cents, an expansion of 9 cents from the previous week ending spread.

AR 2012 Crop Soybean Cash Market Prices (Jan. 6-10, 2014)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (Jan. 6-10, 2014)

New Crop Soybean Market trading quotes for the past week showed a vastly different pattern from the old crop market.  The new crop market lost 4 cents over the weekend, opened on Monday with a statewide average of $11.30, and posted continually lower price quotes each day of the past week.  Price closed the week at $11.03 on Friday, 31 cents under the previous Friday ending price.  High individual market quote of the week was $11.54 at Helena on Monday.  Low individual market for the period was Des Arc with $10.70 on Friday.  Six of the fourteen reporting locations were below $11.00 at the end of the week.  The end-of-week price spread extended from a high of $11.28 at Helena to the low of $10.70 at Des Arc.  These quotes left the market spread at 58 cents, the second straight week with a 2 cent narrowing of the ending price range.

Fig. 2 - AR 2013 New Crop Soybean Market Prices (Jan. 6-10, 2014)

Fig. 2 – AR 2013 New Crop Soybean Market Prices (Jan. 6-10, 2014)

(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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