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17
Feb
2014
Arkansas soybean cash market and forward booking prices in Arkansas for Feb. 10-14, 2014
Author: Bob Stark, Agricultural Economist

The 2013 soybean crop market lost 6 cents over the weekend break and opened on this past Monday at $13.45.  Price moved slightly higher through the week in a very erratic manner before closing Friday with a statewide average of $13.59 (Figure 1).  The close left the market a net 8 cents above the prior Friday average.  Five of the fourteen regular markets stopped submitting quotes during the week.  High individual market daily quote was $13.89 on Thursday at West Memphis.  Low quote of the period was $13.22 at Augusta on Monday.  All market quotes fell within the $13.00-14.00 range during the past week.  Closing quotes across all reporting markets ranged from a $13.41 low at both Des Arc and Jonesboro to a $13.83 high at West Memphis.  These end-of -week quotes left the market price range at 42 cents, a widening of 3 cents from the previous week ending spread.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (Feb. 10-14, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (Feb. 10-14, 2014)

New Crop Soybean Market Prices representing early bookings of the 2014 crop lost 5 cents over the weekend to a statewide average on Monday of $11.22 and, like the cash market, generally moved higher in an erratic manner (Figure 2).  Price closed at $11.34 on Friday, a 7 cent gain over the previous Friday ending price.  High individual market quote of the week was $11.55 at West Memphis on Thursday.  Low individual market for the period was at Des Arc with $10.96 on Monday.  Des Arc also had the only other sub-$11.00 daily quote of the week with $10.99 on Wednesday.  Again like the cash market, five state market locations ceased submitting 2014 crop booking quotes during the week.  All of the nine reporting markets were above $11.00 at the end of the week.  The end-of-week price spread extended from a high of $11.52 at West Memphis to a low of $11.11 at Des Arc.  These quotes left the market spread at 41 cents, 2 cents less than the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (Feb. 10-14, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (Feb. 10-14, 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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