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

The past trading week started with caution as market price fell 11 cents over the weekend to open at a statewide average of $14.23 on Monday.  Market price then proceeded to post steady gains each day to a Friday closing statewide average of $14.69 (Figure 1).  The close left the market 35 cents above the prior Friday average.  Thirteen of the fourteen regular markets were submitting quotes to start the week, but some markets dropped out leaving only eleven still reporting on Friday.  High individual market daily quote was $14.89 on Friday at West Memphis.  Low quote of the period was $14.06 at Augusta on Monday.  Augusta stopped reporting quotes on Thursday.  Closing quotes across all reporting markets ranged from a $14.51 low at both Des Arc and Jonesboro to the $14.89 high at West Memphis.  End-of -week quotes left the market price range at 38 cents, a narrowing of 3 cents from the previous week ending spread.  Observers should note that Augusta is frequently a low quote and was not represented for the last two days.

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

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

A modest 2 cent weekend gain in the New Crop Soybean Market Price on early bookings of the 2014 crop put the statewide average on Monday at $11.77 and price moved gradually higher throughout the week (Figure 2).  Price closed at $11.93 on Friday, an 18 cent gain over the previous Friday ending price.  High individual market quote of the week was $12.08 at Helena on Friday with $12.07 at Old Town/Elaine as individual daily prices soared above the $12.00 level for the first time this season.  Low individual market for the period was at Des Arc with $11.52 on Monday.  Thirteen of the fourteen state market locations submitted 2014 crop booking quotes during the week with only Pine Bluff absent.  The end-of-week price spread extended from the high of $12.08 at Helena to a low of $11.70 at both Augusta and Des Arc.  These quotes left the market spread at 38 cents, a 7 cent narrowing from the previous week price range.

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

Fig. 2 – AR 2014 New Crop Soybean Market Prices (March 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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