Forward booking prices for 2011 crop beans had losses similar to the cash market as they first lost 6 cents over the weekend to open at $13.39 and then posted losses each trading day toward a Friday closing mark of $12.79 (Figure 2). The closing price for the week was a 66 cent drop from the prior Friday closing mark. West Memphis had the highest individual market quote of the week at $13.61 on Monday. No other markets exceeded $13.55 on any day. The lowest price of the week was $12.57 at Augusta on Friday. West Memphis, at $13.06, was the only market in the state remaining above $13.00 to close the week. The price margin between cash market old crop beans and new crop booking prices narrowed to 42 cents, a 14 cent decrease from the previous week interval.
(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
