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09
Feb
2015
Arkansas soybean market report for February 2-6, 2015
Author: Bob Stark, Agricultural Economist

The 2014 crop AR cash soybeans market lost 6 cents over the weekend before entering into a week of inconsistent trading. The statewide average on Monday was $9.67 to open the week of trading. Market price regained all of its weekend loss and more with a 26 cent gain on Tuesday. The market followed that recovery with a 10 cent gain on Thursday sandwiched between losses on Wednesday and Friday. The closing statewide average on Friday was $9.84, an overall 11 cent gain from the prior week closing mark (Figure 1). High individual daily market quote of the past week was $10.17 at West Memphis and Old Town/Elaine on Tuesday. Low daily quote for the week occurred on Monday with Wynne at $9.45. Reporting was also inconsistent with the number of daily market reports ranging from 10 to 12. Friday closing prices ranged from a $9.59 low at Wynne to a high of $10.09 at Osceola. These end-of-week quotes left the market price range at exactly 50 cents, a 5 cent narrowing from the previous week ending range.

Fig. 1.  AR 2014 Crop Soybean Cash Market Prices (Feb. 2-6, 2015)

Fig. 1. AR 2014 Crop Soybean Cash Market Prices (Feb. 2-6, 2015)

The 2015 soybean crop market showed the same inconsistency of the 2014 crop without the weekend loss. Price held steady over the weekend at $9.34 before posting a strong gain on Tuesday to a weekly high of $9.55. The market then bounced up and down similar to the old crop trading. The lone bright spot was that the Tuesday gains were generally maintained through the close of trading for the week. The Friday closing average was $9.48, a 14 cent improvement from the previous end of week quote. High individual market quote for the past week was $9.71 reported at West Memphis, Osceola and Old Town/Elaine on Tuesday. Low market quote for the week occurred on Monday with $9.15 at Augusta, Wynne, and Des Arc. Thirteen markets continue to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.30 at Augusta, Des Arc, and Wynne to a high of $9.65 at both Osceola and Old Town/Elaine. These ending quotes represented a range of 35 cents, 1 cent narrower than the range of the previous week closing quotes.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (Feb. 2-6, 2015)

Fig. 2. AR 2015 New Crop Soybean Market Prices (Feb. 2-6, 2015)

(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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