Soybean Market Prices - August 2012
[University of Arkansas Division of Agriculture Research and Extension University of Arkansas System. Arkansas Soybean Promotion Board. Dr. C. Robert Stark, Jr., Professor of Agricultural Economics, School of Agriculture, University of Arkansas at Monticello.]
[Dr. Stark] I’m Dr. Bob Stark. I’m located at Monticello, Arkansas. I am an agricultural economist with the UAM School of Agriculture and the Southeast Research and Extension Center.
One of the key elements this year in 2012 are the extreme prices that we are seeing in the soybean market. Both the old crop market, which is the 2011 crop that’s being marketed and the 2012 new crop that is just approaching harvest. [Video shows a soybean field and a soybean plants with pods.]
We’re seeing record highs in both prices. Seventeen fifty eight July 20th, the old crop beans peaked out, which is double what we see in many years. We saw sixteen dollar plus beans, sixteen ninety four I believe it was the same day in booking of new crop beans, and these are just record highs and they face some real marketing challenges for our producers. [Line chart showing Arkansas 2011 Crop Soybean Market Price from January 3, 2012 - July 27, 2012. Line chart showing Arkansas 2012 New Crop Soybean Booking Prices from January 3, 2012 - July 27, 2012.]
Producers that are interested in seeing market prices and market price trends can look at the Arkansas crops blog on the Arkansas Extension website. [Video shows a soybean field. To access crops blog go to www.arkansas-crops.com.] Each week I have a summary of the movements that have occurred during that week, the highs, the lows, analysis, both on the old crop beans that are currently being cleaned up and the new crop beans that are being booked ahead. [Screen shot of crops blog with Soybean Cash Market and Forward Booking Prices in Arkansas for July 23-27, 2012 article.]
So both those are available, past weeks are also available on that website. But certainly you can look at that and see the most recent week of the movements. Those are typically distributed on Friday afternoons, late Friday afternoon and so they would be available immediately to our producers. [University of Arkansas Division of Agriculture Research and Extension University of Arkansas System, Arkansas Soybean Promotion Board. www.uaex.edu.]