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

The old crop cash soybean market continued its second week of decline.  A 6 cent loss over the weekend put the past Monday statewide average at $13.48, 44 cents under the previous Monday.  Market price fell each trading day of the past week and entered the sub-$13.00 level for only the second day this year.  The market ended the week on Friday with a closing statewide average of $12.71, an 83 cent loss from the previous end of week trading mark (Figure 1).  Reporting in the old crop market remains very uncertain as only three markets are providing quotes.  High individual market daily quote for the past week was $13.66 on Monday and occurred at West Memphis.  The low was $12.62 on Friday at both Blytheville and Osceola.  Closing quotes on Friday ranged from the $12.62 low at Blytheville and Osceola to the West Memphis high of $12.89.  These end-of-week quotes put the market price range at 27 cents, 30 cents narrower than the previous week.  Readers should note that the lack of market quotes makes this range change questionable.

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

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

The 2014 New Crop Soybean Booking market had a more consistent week of trading after the extended Fourth of July weekend.  Old crop market price began the week at a statewide average of $11.27, an 8 cent decline from the previous Thursday close.  New crop beans fell by 9 to 18 cents each day of the past week and closed with a statewide average of $10.77 on Friday, a 58 cent overall loss from the previous Thursday average (Figure 2).  High individual market quote of the week was $11.41 at West Memphis, Helena, and Old Town/Elaine on Monday.  The low individual market quote for the fifth consecutive week was at Augusta with only $10.51 on Friday, 4 cents less than the Des Arc average.  All fourteen regular markets continued to provide quotes during the past week.  The end-of-week price spread ranged from a high of $10.91 at West Memphis to the $10.51 low at Augusta.  The Old Town/Elaine and Helena markets were just off the top price at $10.90.  These quotes left the closing market spread at 40 cents, a 1 cent increase from the immediately previous week closing price range.

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

Fig. 2 – AR 2014 New Crop Soybean Market Prices (July 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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