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14
Apr
2014
Soybean cash market and forward booking prices in Arkansas for April 7-11, 2014
Author: Bob Stark, Agricultural Economist

The past week of trading was literally a “hump” week as the market lost 12 cents over the weekend to a Monday statewide average of $14.66 and climbed to a $14.96 peak on Wednesday before giving back all of the gains a Friday closing average of $14.63 (Figure 1).  The closing statewide average represented a 15 cent overall loss from the previous Friday closing price.  Twelve of the fourteen regular markets submitted old crop price quotes each day of this past week plus intermittent quotes from Old Town/Elaine.  High individual market daily quote was $15.15 on Wednesday at West Memphis.  Low quote of the period was $14.44 at Augusta on Friday.  Closing quotes across all reporting markets ranged from the $14.44 low at Augusta to a high of $14.83 at West Memphis.  These end-of-week quotes left the market price range at 39 cents, a widening of 2 cents from the previous week.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (April 7-11, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (April 7-11, 2014)

2014 New Crop Soybean Booking price movements were less pronounced than old crop.  The market remained steady over the weekend before rising to a peak of $12.29 on Wednesday and then falling back to a Friday closing mark of $12.15, a 4 cent gain in price compared to the previous Friday close (Figure 2).  High individual market quote of the week was $12.43 at Old Town/Elaine on Wednesday.  Low individual market for the period was at Augusta with $11.86 on Monday.  All fourteen regular markets continue to provide quotes during the past week.  The end-of-week price spread extended from a high of $12.28 at West Memphis and Helena to a low of $11.89 at Augusta.  These quotes put the market spread at 39 cents, a 1 cent narrowing compared to the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (April 7-11, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (April 7-11, 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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