Forward booking prices for 2011 crop beans did not experience the sharply lower movement of the cash market over the weekend prior to this past week. Over the past weekend, the forward market lost 13 cents to open at $13.51 on Monday. New crop bean prices moved lower through midweek before recovering all of its losses and more on Thursday. Trading dived sharply again on Friday to close out the week at $13.27, a 37 cent overall fall from the previous Friday closing price. West Memphis again posted the top daily price of the week with $13.80 on Thursday. Old Town/Elaine trailed by a single cent at $13.79, and Helena at $13.74 was the only other market that broke the $13.70 level during the week. The lowest price of the week was $12.89 at Wynne on Wednesday. All markets ended the week above the $13.00 level. The price margin between cash market old crop beans and new crop booking prices continued to decrease falling from 38 cents to 28 cents, a 10 cent shrink and the third straight week where the gap narrowed.
(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
No comments:
Post a Comment