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24
Mar
2014
Soybean cash market and forward booking prices in Arkansas for March 17-21, 2014
Author: Bob Stark, Agricultural Economist

A modest 2 cent weekend gain in the 2013 Crop Soybean Cash Market put the Monday statewide average at an even $14.00.  Price then rose strongly throughout most of the week before suffering a major correction lower on Friday (Figure 1).  The peak of the week occurred at $14.42 on Thursday before falling to a $14.19 closing statewide average on Friday, an overall gain of 21 cents from the prior Friday average.  Eleven of the fourteen regular markets continue to submit old crop price quotes.  High individual market daily quote was $14.58 on Thursday at West Memphis.  Low quote of the period was $13.85 at both Jonesboro and Des Arc on Monday.  Closing quotes across all reporting markets ranged from a $14.02 low at both Des Arc and Jonesboro to a $14.29 high at West Memphis, Old Town/Elaine, and Little Rock.  End-of -week quotes left the market price range at 27 cents, a narrowing of 5 cents from the previous week ending spread and a total narrowing of 24 cents over the past three weeks.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (March 17-21, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (March 17-21, 2014)

2014 New Crop Soybean Booking price gained only 1 cent over the weekend to a Monday statewide average of $11.81.  Price moved higher to a Wednesday peak of $11.95 before giving most of the gains back and finishing with an $11.82 statewide average on Friday.  The Friday closing mark left the market with a 2 cent gain for the week (Figure 2).  High individual market quote of the week was $12.06 at both Old Town/Elaine and Pendleton on Wednesday.  Low individual market for the period was at Des Arc with $11.59 on Monday.  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 $11.92 at Pendleton and Old Town/Elaine to a low of $11.60 at Des Arc.  These quotes left the market spread at 32 cents, unchanged from the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (March 17-21, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (March 17-21, 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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