Arkansas Soybean Update - August 2010
[Title Slide - Arkansas Soybean Update. Your Arkansas Soybean Podcast, University of Arkansas Division of Agriculture, Arkansas Soybean Promotion Board.]
[Narrator - Video showing equipment in a field planting and harvesting]
This year's favorable weather conditions allowed many Arkansas soybean growers to get in the field and plant early. The warm spring and summer has allowed some growers to prepare for an early harvest, one to three weeks ahead of schedule. Growers that are able to harvest early should see better prices at the terminals.
According to Scott Stiles, extension economist-risk management specialist with the University of Arkansas Division of Agriculture, the current soybean supply situation is allowing Mississippi River elevators to offer a basis above the Chicago Board of Trade prices. So far, prices have been as high as fifteen cents above August soybean futures.
If growers deliver their beans by August tenth, they could receive ten dollars and twenty-five cents a bushel. China's large appetite for soybeans is among the factors helping lift prices. Arkansas' early soybeans may fill the market gap until the Midwest bean harvest begins.
[Picture of a flooded soybean field] Some areas have not been so lucky. Mid-July heavy rains damaged or killed a significant number of soybeans in Jackson County and growers have been forced to replant or leave some fields empty.
[Narrator] Your Arkansas Soybean Podcast is a production of the University of Arkansas Division of Agriculture and was funded in part by the Arkansas Soybean Promotion Board. For more information about soybean farming in Arkansas, contact your local county Extension office.
[Title slide - For more information contact your local county Extension office. Your Arkansas Soybean Podcast, University of Arkansas Division of Agriculture, Arkansas Soybean Promotion Board]