UACES Facebook Arkansas Soybean 2020 Crop Cash Market & 2021 Crop Booking Market Reports
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Arkansas Soybean 2020 Crop Cash Market & 2021 Crop Booking Market Reports

by Bob Stark Professor Emeritus-UAM College of Forestry, Agriculture, and Natural Resources, Monticello and Extension Economist, UA Division of Agriculture and Jeremy Ross Professor and Extension Agronomist – Soybean University of Arkansas Cooperative Extension Service, Little Rock - July 9, 2021

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

 

2020 Crop Soybean Cash Market

 

 

The 2020 crop soybean market suffered a major loss over the past weekend that was extended by the July 4th observance on Monday.  Price reversed direction after the weekend loss and trended higher over the remainder of the week although not fully regaining the weekend loss (Figure 1).  Price fell 61 cents over the extended weekend and opened on Tuesday at a statewide average of $13.58, 12 cents under the previous week opening price.  The market reversed direction on Wednesday with a 23 cent gain and gave back 5 cents on Thursday before having a 33 cent gain on Friday to lift the closing statewide average to $14.09, 10 cents under the previous week closing mark.  The West Memphis market resumed submitting price quotes after being absent since May 28, but Osceola, the sold price quote location for almost two weeks, went missing on Friday.  High daily price for the past week was the $14.09 quote on Friday from West Memphis.  The low daily price of the week was $13.42 reported on Tuesday by Osceola.  No closing price quote range was estimated on Friday due to the single reporting market.

 

2021 Crop Soybean Booking Market

 

 

The Arkansas Soybean 2021 Crop Booking Market followed a similar price movement pattern as old crop soybeans, but without a similar final day price gain.  New crop beans dropped sharply over the extended holiday weekend, made a partial Wednesday recovery, and then basically went steady to finish the week (Figure 2).  New crop booking beans dropped 95 cents over the weekend to open Tuesday at $12.99, a decline of 10 cents from the previous week opening average.  Price rose 27 cents on Wednesday before flattening off with a 7 cent Thursday gain and 7 cent Friday loss.  The market on Friday closed the week at a statewide average of $13.27, an overall loss of 67 cents from the previous week closing average.  The high individual daily market quote of the past week was $13.44 on Friday at West Memphis.  Low individual daily market quote was $12.77 at Jonesboro on Monday.  Closing booking price quotes on Friday ranged from a $13.10 low at Jonesboro to the $13.44 high at West Memphis.  The closing day statewide range stood at 34 cents, 11 cents narrower than the previous week closing range.  Overall market reporting remained solid with eight major individual markets providing quotes each reported trading day and the other three markets submitting quotes on two or three of the four trading days.

 

(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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