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Soybean cash market and forward booking prices in Arkansas for Sept. 15-19, 2014
Author: Bob Stark, Agricultural Economist

The past week of old crop cash soybean trading in September opened promisingly with an 8 cent weekend gain to a Monday opening average of $10.27. But the market then established a lower trend that was shown most trading days of the week, finally reaching the daily low of the week at $9.77 on Friday, a 42 cent loss from the previous Friday closing price. Thursday and Friday were the first sub-$10.00 daily averages on the 2014 crop (Figure 1). High individual daily market quote for the week was $10.40 at both Old Town/Elaine and Pendleton on Monday. The low was $9.47 on Friday at Augusta. Price quotes for the week were received from nine markets as Helena ceased providing market quotes. Friday closing price ranged from the $9.47 low at Augusta to a high of $10.07 at Pendleton, the only state market exceeding $10.00 besides Stuttgart at $10.02. These end-of-week quotes put the market price range at 60 cents, a 5 cent narrowing from the previous week.

Fig. 1 - AR 2013 Crop Soybean Cash Market Prices (Sept. 15-19, 2014)

Fig. 1 – AR 2013 Crop Soybean Cash Market Prices (Sept. 15-19, 2014)

The 2014 New Crop Soybean Booking market was less optimistic than the old crop market and gained only 2 cents over the weekend. Price opened at a statewide average of $9.94 on Monday. The market then moved generally lower throughout each trading day, closing at a new seasonal low daily average of $9.58 on Friday (Figure 2). The new crop market closing represented a 34 cent decrease from the previous Friday close and was the first entire week with quotes under $10.00. High individual market quote of the week was $10.40 reported by Old Town/Elaine on Monday. The low individual market quote was $9.17 from Wynne on Friday. All of the 14 individual markets reported sub-$10.00 averages to close the week compared to only seven on the previous Friday. All fourteen regular markets provided quotes each day during the past week. The end-of-week price spread ranged from a high of $9.92 at Osceola to the $9.17 low at Wynne. These quotes left the closing market spread at 75 cents, a 5 cent narrowing from the immediately previous week Friday closing price range.

Fig. 2 - AR 2014 New Crop Soybean Market Prices (Sept. 15-19, 2014)

Fig. 2 – AR 2014 New Crop Soybean Market Prices (Sept. 15-19, 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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