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20
Mar
2015
Arkansas soybean market report for March 16-20, 2015
Author: Bob Stark, Agricultural Economist

A 4 cent weekend loss seemed to put the 2014 Arkansas Cash Soybean market into an unsettled state as it opened on Monday with a $9.77 statewide average and then had trend reversals each trading day of the week. The market finally finished strong on Friday with a $9.81 closing statewide average to finish unchanged compared to the previous Friday closing average (Figure 1). High individual daily market quote of the past week was $9.99 on Friday at Blytheville, West Memphis, and Old Town/Elaine. This week was the first since early October 2014 that did not have at least one location reporting a daily quote above the $10.00 level sometime during the week. Low daily quote for the week occurred on Tuesday with Wynne at $9.36. Thirteen markets provided price quotes each day of the past week. Friday closing prices ranged from a $9.55 low at Wynne to the $9.99 high at Blytheville, West Memphis, and Old Town/Elaine. These end-of-week quotes left the market price range at 44 cents, unchanged from the previous week interval.

Fig. 1.  AR 2014 Crop Soybean Cash Market Prices (March 16-20, 2015)

Fig. 1. AR 2014 Crop Soybean Cash Market Prices (March 16-20, 2015)

The 2015 soybean crop market had half of the weekend loss suffered by the 2014 crop market with only a 2 cent decline. The market opened on Monday at a crop statewide average of $9.37. Like the old crop, new crop price could not establish a trend and moved in opposite directions each successive day of the week (Figure 2). The Friday closing average was $9.41, a 2 cent improvement from the previous end of week quote. High individual market quote for the past week was $9.56 at West Memphis on Friday. Low market quote for the week occurred on Tuesday with $9.08 at Augusta. Both Wynne and Des Arc followed closely at $9.10. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.16 at Augusta to the high of $9.56 at West Memphis. These ending quotes represented a range of 40 cents, a widening of 8 cents from the previous week closing quotes range.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (March 16-20, 2015)

Fig. 2. AR 2015 New Crop Soybean Market Prices (March 16-20, 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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