Forward booking prices for 2011 crop beans again saw a stronger movement than the cash market. Over the past weekend, the forward market lost only 3 cents to open at $13.52 on Monday (Figure 2). New crop beans price improved through midweek, reaching a high point of $13.84 on Wednesday. The new crop booking market then went down through the remainder of the week to close on Friday at $13.64, a 9 cent overall gain from the previous Friday closing price. West Memphis again posted the top daily price of the week with $14.03 on Wednesday. Also on Wednesday, Old Town/Elaine, at $14.02, and Helena at $14.00 were the only other markets that broke the $14.00 level during the week. The lowest price of the week was $13.26 at Wynne on Monday. The price margin between cash market old crop beans and new crop booking prices decreased sharply from 66 cents to 38 cents, a narrowing of 28 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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