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17
Mar
2014
Soybean cash market and forward booking prices in Arkansas for March 10-14, 2014
Author: Bob Stark, Agricultural Economist

A 39 cent weekend decline in the 2013 Crop Soybean Cash Market seemed to set a tone for the entire week as price generally declined toward its weekly low price on Friday  Figure 1).  Monday trading averaged $14.30 statewide and the market moved steadily lower through Wednesday.  A modest rally on Thursday was quickly lost on Friday as price fell to a closing statewide average of $13.98, a 71 cent loss from the prior Friday average.  Eleven of the fourteen regular markets continue to submit old crop price quotes.  High individual market daily quote was $14.46 on Monday at West Memphis.  Low quote of the period was $13.80 at both Des Arc and Jonesboro on Wednesday.  Closing quotes across all reporting markets ranged from a $13.82 low at both Des Arc and Jonesboro to a $14.14 high at Old Town/Elaine.  End-of -week quotes left the market price range at 32 cents, a narrowing of 6 cents from the previous week ending spread and a total narrowing of 19 cents over the past three weeks.

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

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

2014 New Crop Soybean Booking prices showed more strength than the old crop cash market.  The market lost only 10 cents over the weekend to a Monday statewide average of $11.83.  Price actually moved higher on Tuesday before giving back all of the gain on Wednesday and then trading within a 5 cent range for the remainder of the week (Figure 2).  Price closed at $11.80 on Friday, a 13 cent loss from the previous Friday ending price.  High individual market quote of the week was $12.10 at Old Town/Elaine on Tuesday, one of only six individual market quotes above $12.00 during the week.  Low individual market for the period was at Des Arc with $11.58 on Friday.  Eleven of the fourteen state market locations submitted 2014 crop booking quotes during the week.  The end-of-week price spread extended from a high of $11.90 at Pendleton, Blytheville, Old Town/Elaine, and Osceola to the low of $11.58 at Des Arc.  These quotes left the market spread at 32 cents, a 6 cent narrowing from the previous week price range.

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

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