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09
Mar
2015
Arkansas soybean market reports for March 2-6, 2015
Author: Bob Stark, Agricultural Economist

The 2014 Arkansas Cash Soybean market suffered a 22 cent weekend loss, but that was only an indication of things to come as price fell each remaining day of the trading week. The market opened on Monday with a $10.23 statewide average and then posted losses each trading day before finishing on Friday with a $9.96 statewide average. The closing mark put old crop soybeans under the $10.00 level for the first time since February 12 and represented an overall loss of 49 cents from the closing price of the previous Friday (Figure 1). High individual daily market quote of the past week was $10.54 on Monday at Osceola. Low daily quote for the week occurred on Friday with Jonesboro at $9.80. The week ended with twelve markets providing price quotes. Oddly, Wynne stopped providing quotes after Monday and Old Town/Elaine and Pine Bluff began reporting on Tuesday and continued through the remainder of the week. Friday closing prices ranged from the $9.80 low at Jonesboro to a high of $10.15 at both Old Town/Elaine and Osceola. These end-of-week quotes left the market price range at only 35 cents, a decrease of 22 cents from the previous week interval.

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

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

Less volatility was seen in the 2015 soybean crop market than in the 2014 crop market, but the movement pattern was very similar. Statewide trading on Monday saw the new crop statewide average at $9.74, a 12 cent decline from the previous Friday closing average. Price stayed generally steady through Tuesday before entering into a decline that continued through the close of trading on Friday (Figure 2). The Friday closing average was $9.52, a 34 cent decline from the previous end of week quote. High individual market quote for the past week was $9.90 at Osceola, the first week since the Presidents’ Day holiday that did not have at least one daily quote at or above $10.00. Low market quote for the week occurred on Friday with $9.31 at Augusta. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the low of $9.31 at Augusta to a high of $9.66 at Osceola. Helena and Old Town/Elaine followed closely at $9.65. These ending quotes represented a range of 35 cents, unchanged from the range of the previous week closing quotes.

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

Fig. 2. AR 2015 New Crop Soybean Market Prices (March 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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