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21
Apr
2014
Soybean cash market and forward booking prices in Arkansas for April 14-18, 2014
Author: Bob Stark, Agricultural Economist

The abbreviated past week of trading began with a surge that carried through midweek before suffering a “correction” on Thursday that surrendered some of the gains (Figure 1). Price rose 13 cents over the weekend to a Monday statewide average of $14.76 and climbed through the $15.00 price ceiling to a $15.17 peak on Wednesday before retreating on Thursday to $15.11. The closing statewide average still represented a 48 cent overall gain from the previous Friday closing price. Twelve of the fourteen regular markets submitted old crop price quotes each day of this past week. High individual market daily quote was $15.39 on Wednesday at Little Rock. Low quote of the period was $14.58 at Augusta on Monday. Des Arc and Jonesboro followed closely at $14.59 each. Closing quotes on Thursday across all reporting markets ranged from a $14.91 low at Augusta to a high of $15.34 at Little Rock. These end-of-week quotes left the market price range at 43 cents, a widening of 4 cents from the previous week.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (April 14-18, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (April 14-18, 2014)

The 2014 New Crop Soybean Booking price posted steady, daily gains each day of the shortened week and reached its peak on Thursday. The market gained 6 cents over the weekend and eventually hit its peak of $12.39 on Thursday (Figure 2). The closing price represented a solid 24 cents gain from the prior Friday close. High individual market quote of the week was $12.50 at West Memphis and Helena on Thursday. Prices of $12.49 were also reported that day from Pendleton and Old Town/Elaine. The low individual market quote for the short week was at Augusta with $11.94 on Monday. It also had the dubious honor of being the only daily market report under $12.00 for any day of the past week. All fourteen regular markets continue to provide quotes during the past week. The end-of-week price spread extended from the high of $12.50 at West Memphis and Helena to a low of $12.13 at Augusta. These quotes put the market spread at 37 cents, a 2 cent narrowing compared to the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (April 14-18, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (April 14-18, 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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