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29
Apr
2014
Soybean cash market and forward booking prices in Arkansas for April 21-25, 2014
Author: Bob Stark, Agricultural Economist

A 15 cent decline over the weekend led the old crop soybean market to an opening statewide average of $14.96 on Monday and set a pattern for the first half of the week. Price fell to a $14.65 average on Wednesday, but then regained much of the weekly loss, closing on Friday at $14.95, a 16 cent drop from the previous Friday mark (Figure 1). Twelve of the fourteen regular markets continue to submit old crop price quotes each day with only Helena and Old Town/Elaine absent. High individual market daily quote was $15.19 on Monday at Little Rock. Low quote of the period was $14.42 at Augusta on Wednesday. Closing quotes on Friday across all reporting markets ranged from a $14.71 low at Augusta to a high of $15.18 at Little Rock. These end-of-week quotes placed the market price range at 47 cents, a widening of 4 cents from the previous week.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (April 21-25, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (April 21-25, 2014)

The 2014 New Crop Soybean Booking price fell 15 cents over the weekend to a Monday statewide average of $12.24.  Price slipped further lower on Tuesday before turning around to post steady, daily gains each remaining day of the week and reach its peak on Friday (Figure 2).  Price averaged $12.40 statewide on Friday, a 1 cent improvement over the Thursday closing average of the prior, shortened trading week.  High individual market quote of the week was $12.51 at Helena on Friday with West Memphis, Pendleton, and Old Town/Elaine all at $12.50.  The low individual market quote for the week was at Augusta with $11.88 on Tuesday.  All fourteen regular markets continued to provide quotes during the past week.  The end-of-week price spread extended from the high of $12.51 at Helena to a low of $12.12 at Augusta.  These quotes put the market spread at 39 cents, a 2 cent widening compared to the previous week price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (April 21-25, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (April 21-25, 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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