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Soybean cash market and forward booking prices in Arkansas for April 28-May 2, 2014
Author: Bob Stark, Agricultural Economist

A 10 cent gain over the weekend propelled the old crop soybean market to an opening statewide average of $15.05 on Monday and the market continued climbing through Wednesday. Price then took a major plunge on Thursday falling 57 to 62 cents. Old crop beans stabilized Friday to a $14.71 closing statewide average, 24 cents under the previous Friday mark (Figure 1). Twelve regular markets generally continued to submit old crop price quotes each day although Helena had Wednesday-Thursday reports and Augusta did not submit on Friday. The latter action may have boosted the Friday closing average since Augusta is normally a lower state market in price. High individual market daily quote was $15.56 on Wednesday at West Memphis. Low quote of the period was $14.47 at Augusta on Thursday. Closing quotes on Friday across reporting markets ranged from a $14.54 low at both Augusta and Jonesboro to a high of $14.89 at West Memphis with Blytheville and Osceola following closely at $14.88. The end-of-week quotes placed the market price range at 35 cents, a 12 cent narrowing from the prior week.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (April 28-May 2, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (April 28-May 2, 2014)

The 2014 New Crop Soybean Booking price followed a less volatile path than the old crop market. Price fell only 1 cent over the weekend to a Monday statewide average of $12.39. The market moved to a higher level on Tuesday and Wednesday before falling to a lower level that it generally maintained through Thursday and Friday (Figure 2). Price averaged $12.22 statewide on Friday, an 18 cent decline from the prior Friday closing average. High individual market quote of the week was $12.59 at Helena on Tuesday with Pendleton and Old Town/Elaine at $12.58. The low individual market quote for the week was at Augusta with $11.95 on Friday. All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread extended from a high of $12.34 at Helena to the low of $11.95 at Augusta. These quotes left the closing market spread at 39 cents for the second straight week.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (April 28-May 2, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (April 28-May 2, 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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