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27
Feb
2015
Arkansas soybean market report for February 23-27, 2015
Author: Bob Stark, Agricultural Economist

The 2014 Arkansas Cash Soybean market posted a modest 2 cent weekend gain and then trended higher for the remainder of the trading week. The market opened on Monday with a $10.14 statewide average. Despite a Wednesday correction, the market had gains on four trading days of the week and finished on Friday with a $10.45 statewide average. The closing mark left old crop soybeans 33 cents higher than the prior week closing price and solidly in the “above $10.00” trading days (Figure 1). High individual daily market quote of the past week was $10.73 at West Memphis on Friday. Old Town/Elaine and Osceola followed closely at $10.71. Low daily quote for the week occurred on Monday with Wynne at $9.84. The Wynne quote was one of only four individual daily market quotes under $10.00 for the week. Twelve locations continued providing market reports each trading day of the past week. Friday closing prices ranged from a $10.16 low at Wynne to the high of $10.73 at West Memphis. These end-of-week quotes left the market price range at 57 cents, a decrease of 3 cents from the previous week interval.

Fig. 1.  AR 2014 Crop Soybean Cash Market Prices (Feb. 23-27, 2015)

Fig. 1. AR 2014 Crop Soybean Cash Market Prices (Feb. 23-27, 2015)

The 2015 soybean crop market did not post the size of weekly gains found in the 2014 crop market and the mainly steady condition over the weekend was an early indication. Statewide trading on Monday placed the statewide average at $9.68, unchanged from the previous Friday closing average. Price moved generally higher through the week with only a mild correction on Wednesday. The Friday closing average was $9.86, an 18 cent improvement from the previous end of week quote. High individual market quote for the past week was only $10.03, reported at Osceola on both Thursday and Friday. These quotes were the only individual daily market quotes for the week that exceeded $10.00 in the state. Low market quote for the week occurred on Monday with $9.50 at both Des Arc and Wynne. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.68 at both Des Arc and Wynne to the high of $10.03 at Osceola. These ending quotes represented a range of 35 cents, an expansion of 3 cents from the range of the previous week closing quotes.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (Feb. 23-27, 2015)

Fig. 2. AR 2015 New Crop Soybean Market Prices (Feb. 23-27, 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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