Forward booking prices for 2011 crop beans saw an even stronger movement than the cash market over the past weekend, gaining 22 cents to open at $13.30 on Monday (Figure 2). New crop beans also saw price improvements through midweek as they reached a high point of $13.61 on Wednesday. The new crop booking market then went stagnant through the remainder of the week before closing on Friday at $13.55, a 47 cent overall gain from the previous Friday closing price. West Memphis again posted the top daily price of the week with $13.81 on Wednesday. Old Town/Elaine was a single cent behind at $13.80 on the same day. The lowest price of the week was $13.01 at Wynne on Monday as all daily market quotes were above $13.00 and within an 80 cent interval. The price margin between cash market old crop beans and new crop booking prices decreased from 73 cents to 66 cents, a narrowing of 7 cents.
(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.)
Provided by:
Bob Stark, Agricultural Economist
Southeast Research & Extension Center
University of Arkansas at Monticello
stark@uamont.edu - (870) 460-1091
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