UACES Facebook Arkansas Soybean 2021 Crop Cash and 2022 New Crop Booking Market Reports (January 10 - 14, 2022)
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Arkansas Soybean 2021 Crop Cash and 2022 New Crop Booking Market Reports (January 10 - 14, 2022)

by Brian Deaton, Associate Professor and Extension Economist, and Jeremy Ross, Professor and Extension Agronomist - Soybean - January 17, 2022

These reports comprise a weekly newsletter focusing on Arkansas soybean market economics. We look at cash market and forward pricing quotes from selected markets as reported to the USDA Agricultural Marketing Service in Arkansas.

2021 Crop Soybean Cash Market

The Arkansas 2021 Crop Soybean Cash Market fell over the weekend, rose through Wednesday, and then sold off on Thursday (Figure 1).  The statewide daily average dropped 28 cents over the past weekend to open on Monday at $13.83.  Price rose to the high of the week at $14.02 on Wednesday and closed on Thursday at $13.82, an overall loss of 29 cents from the previous week's closing price.  The USDA-AMS did not publish a market report on Friday.  The high individual daily market quote of the past week was $14.49 on Wednesday at both Osceola and West Memphis.  The low individual daily market quote was $13.50 at Wynne on Monday.  The Thursday closing day statewide range stood at 64 cents, down from the previous week's closing range of 70 cents.  Nine major individual markets provided quotes this week.

Arkansas Soybean 2021 Crop Current Cash Market Prices (January 10 - 14, 2022)Figure 1.  Arkansas Soybean 2021 Crop Current Cash Market Prices (January 10 - 14, 2022)

 

2022 New Crop Soybean Booking Market

USDA Agricultural Marketing Service began reporting booking prices for the 2022 Arkansas No. 1 Yellow Soybean market on November 15 for 2022 October - November delivery.  This past week, the market opened on Monday at $12.94 with a loss of 21 cents over the weekend.  Price then drifted sideways to slightly higher during the week (Figure 2).  The closing statewide average price on Thursday stood at $12.98, an overall loss of 17 cents from the previous week's closing price.  The highest daily market price quote for the week was $13.35 at both Old Town/Elaine and Helena on Wednesday.  The low daily individual market quote of the week was $12.62 at Wynne on Tuesday.  Eleven market locations provided daily price quotes on each day of the past week.  The Thursday price range across all eleven markets spanned 60 cents, down slightly from the previous week’s range of 63 cents.  Closing prices for the entire week ranged from the high of $13.35 at both Old Town/Elaine and Helena to a low of $12.62 at Wynne.

Arkansas No. 1 Soybean 2022 October - November New Crop Booking Price (January 10 - 14, 2022)Figure 2.  Arkansas No. 1 Soybean 2022 October - November New Crop Booking Price (January 10 - 14, 2022)

 

(Market average prices stated in this report are unweighted averages of the state markets surveyed by USDA-AMS.  Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)

 

 

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