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

The old crop cash soybean market declined for the third straight week losing 7 cents over the weekend to a statewide average of $12.64 and continuing with losses almost every day of the trading week (Figure 1).  A one cent gain on Wednesday represented the only day without a decline.  Market price ended the week on Friday with a closing statewide average of $12.27, a 44 cent loss from the previous end of week trading mark.  Reporting in the old crop market became more representative of the overall state market as Old Town/Elaine and Wynne joined the three markets of the past week in providing quotes. High individual daily market quote for the past week was $12.67 on both Monday and Wednesday at West Memphis.  The low was $12.05 on Thursday at both Wynne and Old Town/Elaine.  Closing quotes on Friday ranged from the $12.43 high at Blytheville and Osceola to the low of $12.07 at Wynne and Old Town/Elaine.  These end-of-week quotes put the market price range at 36 cents, 9 cents wider than the previous week.  Readers should again recognize that limited market quotes make this range change questionable.

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

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

The 2014 New Crop Soybean Booking market once again had a more consistent week of trading than the old crop market.  Old crop price began the week at a statewide average of $10.88, an 11 cent increase from the previous Friday close.  New crop beans then stayed within a 16 cent price range through the entire week and closed with a statewide average of $10.88 on Friday, an 11 cent overall gain from the previous Friday average (Figure 2).  High individual market quote of the week was $11.22 reported by Old Town/Elaine on Wednesday.  The low individual market quote for the sixth consecutive week was at Augusta with $10.61 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 $11.05 at West Memphis and Old Town/Elaine to the $10.61 low at Augusta.  These quotes left the closing market spread at 44 cents, a 4 cent increase from the immediately previous week closing price range.

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

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