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21
Nov
2014
Arkansas soybean market reports – Nov. 21, 2014
Author: Bob Stark, Agricultural Economist

A week of trading for the 2014 crop AR cash soybean market that began with a 13 cent weekend rise showed how price trend can turn around quickly. The Monday statewide average was $10.47, up 13 cents from the previous Friday daily closing average. The strength quickly disappeared as the market moved steadily lower to a Wednesday low mark of $10.14. Just as quickly, the market rebounded on Thursday and Friday to end the week at a statewide closing average of $10.48, an overall gain of 14 cents from the previous Friday closing mark (Figure 1). High individual daily market quote for the week was $10.79 at West Memphis on Friday. Blytheville, at $10.71 on Monday was the only other daily average above $10.70 during the week. Low daily quote for the week occurred on Wednesday with $9.90 reported at Wynne. The Friday closing price ranged from a low of $10.24 at Wynne to the high of $10.79 at West Memphis. These end-of-week quotes left the market price range at 55 cents for the second straight week.

Fig. 1.  AR 2014 New Crop Soybean Market Prices (Nov. 17-21, 2014)

Fig. 1. AR 2014 New Crop Soybean Market Prices (Nov. 17-21, 2014)

The Agricultural Marketing Service began recording its first quotes on the 2015 soybean crop this week. The market posted a $10.10 statewide average on Monday and then fell steadily to a weekly low of $9.77 on Wednesday. Trading reversed direction after Wednesday and rose steadily to a $10.01 statewide average on Friday. No further comparisons could be made as this was the first 2015 crop report.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (Nov. 17-21, 2014)

Fig. 2. AR 2015 New Crop Soybean Market Prices (Nov. 17-21, 2014)

(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.)


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