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07
Apr
2014
Soybean cash market and forward booking prices in Arkansas for March 31-April 4, 2014
Author: Bob Stark, Agricultural Economist

A 27 cent weekend gain to a $14.74 average on Monday followed by an increase of another 20 cents on Tuesday seemed to set the stage for a strong week in the 2013 Crop Soybean Cash Market, but price quickly fell back 24 cents on Wednesday before stabilizing to end the week (Figure 1).  The statewide average ended the week at $14.78, a most respectable 31 cent improvement from the previous Friday closing price.  Twelve of the fourteen regular markets continued submitting old crop price quotes this past week.  High individual market daily quote was $15.10 on Tuesday at West Memphis.  Low quote of the period was $14.52 at both Pine Bluff and Wynne on Wednesday.  Closing quotes across all reporting markets ranged from a $14.57 low at both Des Arc and Jonesboro to a high of $14.94 at Little Rock, West Memphis, and Old Town/Elaine.  These end-of-week quotes left the market price range at 37 cents for the second straight week.

Fig.1 - AR 2013 Crop Soybean Cash Market Prices (March 31-April 4, 2013)

Fig.1 – AR 2013 Crop Soybean Cash Market Prices (March 31-April 4, 2013)

2014 New Crop Soybean Booking price overcame a slight weekend decline to show more strength over the past week than the old crop cash market.  Price lost 3 cents over the weekend and opened last Monday at a statewide average of $11.92.  A 20 cent surge on Tuesday took price to a $12.12 statewide average before surrendering almost half of the gain on Wednesday.  Price then followed a steady, but upward trend for the remainder of the week before closing at a $12.11 statewide average on Friday (Figure 2).  The closing mark left the market with an overall 16 cent gain for the week compared to the previous Friday closing average.  High individual market quote of the week was $12.29 at Old Town/Elaine on Friday.  Low individual market for the period was at Des Arc with $11.70 on Monday.  The remaining two markets resumed providing quotes during the past week to make fourteen state market locations submitting 2014 crop booking quotes.  The end-of-week price spread extended from the high of $12.29 at Old Town/Elaine to a low of $11.89 at Des Arc.  These quotes put the market spread at 40 cents, an 8 cent widening compared to the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (March 31-April 4, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (March 31-April 4, 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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