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24
Jan
2014
Soybean cash market and forward booking prices in Arkansas for Jan. 20-24, 2014
Author: Bob Stark, Agricultural Economist

The past week was shortened as the market observed the Martin Luther King holiday on Monday.  The extended weekend resulted in a 45 cent loss from Friday’s closing average to the Tuesday statewide average of $13.13.  Market price remained slightly weaker each day before making a recovery on Friday to a closing day average of $13.15 (Figure 1).  The closing average resulted in an overall loss of 43 cents from the previous Friday closing average.  Only nine markets submitted quotes of the fourteen possible state locations.  High individual market daily quote was $13.48 on both Tuesday and Wednesday at West Memphis.  Low quote of the period was $12.85 at both Jonesboro and Des Arc on Thursday.  Closing quotes across all reporting markets ranged from a $12.93 low at both Jonesboro and Des Arc to a $13.42 high at West Memphis.  These end-of -week quotes left the market price range at 49 cents, a narrowing of 18 cents from the previous week ending spread.

Fig. 1 - AR 2012 Crop Soybean Cash Market Prices (Jan. 20-24, 2014)

Fig. 1 – AR 2012 Crop Soybean Cash Market Prices (Jan. 20-24, 2014)

New Crop Soybean Market trading quotes for the shortened past week were more stable than the old crop market.  The new crop market lost 21 cents over the extended weekend and opened on Tuesday with a statewide average of $11.08.  Daily average price was unchanged for three of the four trading days with only a slight Wednesday upward move that immediately disappeared on Thursday (Figure 2).  Price closed the week at $11.08 on Friday, 21 cents under the previous Friday ending price.  High individual market quote of the week was $11.35 at West Memphis on Wednesday.  Low individual market for the period was at Des Arc with $10.79 on Tuesday, Thursday, and Friday.  Only nine of the fourteen state market locations submitted quotes just like the old crop market.  Four of the nine reporting markets were below $11.00 at the end of the week.  The end-of-week price spread extended from a high of $11.31 at West Memphis to the low of $10.79 at Des Arc.  These quotes left the market spread at 52 cents, a narrowing of 6 cents from the previous week price range.

Fig. 2 - AR 2013 New Crop Soybean Market Prices (Jan. 20-24, 2014)

Fig. 2 – AR 2013 New Crop Soybean Market Prices (Jan. 20-24, 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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