UACES Facebook Arkansas Soybean 2021 Crop Cash and 2022 New Crop Booking Market Reports (January 17 - 21, 2022)
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Arkansas Soybean 2021 Crop Cash and 2022 New Crop Booking Market Reports (January 17 - 21, 2022)

by Brian Deaton, Associate Professor and Extension Economist, and Jeremy Ross, Professor and Extension Agronomist - Soybean - January 24, 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 posted a 12 cent loss over the past weekend to open at $13.70 on Tuesday.  The USDA-AMS did not publish a market report on Monday nor on the previous Friday.  The statewide daily average traded higher through the week to close on $14.19 on Friday (Figure 1).  Friday’s price was 37 cents above the previous week’s closing price.  The highest daily market price quote for the week was $14.61 at West Memphis on Thursday.  The low daily individual market quote of the week was $13.37 at Jonesboro on Tuesday.  Ten market locations provided daily price quotes on each day of the past week.  Friday’s price range across all five individual markets was 59 cents, down from the previous week’s closing range of 64 cents.

Arkansas Soybean 2021 Crop Current Cash Market Prices (January 17 - 21, 2022)Figure 1. Arkansas Soybean 2021 Crop Current Cash Market Prices (January 17 - 21, 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 week, the market opened on Tuesday with a 21 cent loss over the weekend to open at $12.77.  The statewide daily average then traded higher through the rest of the week (Figure 2).  The ending statewide daily average on Friday stood at $13.12, a gain of 14 cents from the previous week’s closing price.  The USDA-AMS did not publish a market report on Monday nor on the previous Friday.  The highest daily market price quote for the past week was $13.41 at both Elaine and Helena on Friday.  The low daily individual market quote of the week was $12.46 at Wynne on Tuesday.  Eleven market locations provided daily price quotes on each day of the past week.  Friday’s price range across all four markets was 55 cents, slightly lower than the previous week's closing range of 60 cents.

Arkansas No. 1 Soybean 2022 October - November New Crop Booking Price (January 17 - 21, 2022)Figure 2.  Arkansas No. 1 Soybean 2022, October - November New Crop Booking Price (January 17 - 21, 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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