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13
Mar
2015
Arkansas soybean market reports for March 9-13, 2014
Author: Bob Stark, Agricultural Economist

The 2014 Arkansas Cash Soybean market enjoyed an 8 cent weekend gain, but that was the highlight of the past trading week as price stagnated around the $10.00 level before finally falling lower to close the week. The market opened on Monday with a $10.04 statewide average. A Tuesday decline of 12 cents was partly offset by a gain of 8 cents on Wednesday before entering a decline that left the statewide average on Friday at $9.81. That closing mark left old crop soybeans under the $10.00 level for the second week in a row and represented an overall loss of 15 cents from the closing price of the previous Friday (Figure 1). High individual daily market quote of the past week was $10.23 on Monday at Osceola. Low daily quote for the week occurred on Friday with Wynne at $9.55. The Wynne market resumed reporting on Tuesday of the past week after ceasing reports on Tuesday of the previous week. This week ended with thirteen markets providing price quotes. Friday closing prices ranged from the $9.55 low at Wynne to a high of $9.99 at Blytheville, West Memphis, Old Town/Elaine and Osceola. These end-of-week quotes were the first day without at least one market at $10.00 or above since October 20, 2014. The quotes put the market price range at 44 cents, an expansion of 9 cents from the previous week interval.

Fig. 1.  AR 2014 Crop Soybean Cash Market Prices (March 9-13, 2015)

Fig. 1. AR 2014 Crop Soybean Cash Market Prices (March 9-13, 2015)

The 2015 soybean crop market followed a similar path as the 2014 crop market, but the size of price change was less. The market gained 7 cents over the weekend and opened on Monday at a crop statewide average of $9.59. Price remained within an 8 cent range through Thursday before suffering a decline to close the week (Figure 2). The Friday closing average was $9.39, a 13 cent decline from the previous end of week quote. High individual market quote for the past week was $9.73 at Osceola on Monday. Low market quote for the week occurred on Friday with $9.18 at Augusta. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the low of $9.18 at Augusta to a high of $9.50 at West Memphis. Blytheville and Old Town/Elaine followed closely at $9.48. These ending quotes represented a range of 32 cents, a contraction of 3 cents from the previous week closing quotes range.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (March 9-13, 2015)

Fig. 2. AR 2015 New Crop Soybean Market Prices (March 9-13, 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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