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07
Feb
2014
Soybean cash market and forward booking prices in Arkansas for Feb. 3-7, 2014
Author: Bob Stark, Agricultural Economist

The 2013 soybean crop market gained 7 cents over the weekend break and opened on this past Monday at $13.16.  Price rose every trading day and closed on Friday with a statewide average of $13.51 (Figure 1).  The close left the market 42 cents above the prior Friday average.  All fourteen regular markets are submitting quotes from across the state.  High individual market daily quote was $13.67 on Friday at Old Town/Elaine.  Low quote of the period was $12.89 at Augusta on Monday.  That quote held the dubious distinction of being the only individual daily market quote under $13.00 received during the past week.  Closing quotes across all reporting markets ranged from a $13.28 low at Augusta to the $13.67 high at Old Town/Elaine.  These end-of -week quotes left the market price range at only 39 cents, a narrowing of 3 cents from the previous week ending spread.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (Feb. 3-7, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (Feb. 3-7, 2014)

New Crop Soybean Market Prices represent early bookings of the 2014 crop.  Like the cash market, this early bookings market had a weekend gain, rising 4 cents to a statewide average on Monday of $11.11 and posting gains every trading day of the past week (Figure 2).  Price closed at the weekly high of $11.27 on Friday, 10 cents over the previous Friday ending price.  High individual market quote of the week was $11.45 at Helena on Friday.  Low individual market for the period was at Des Arc with $10.79 on Monday.  All fourteen state market locations are submitting 2014 crop booking quotes after five markets joined in on Wednesday of the previous week.  All of the fifteen reporting markets were above $11.00 at the end of the week.  The end-of-week price spread extended from the high of $11.45 at Helena to a low of $11.02 at Des Arc.  These quotes left the market spread at 43 cents, ten cents less than the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (Feb. 3-7, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (Feb. 3-7, 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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