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30
Mar
2015
Arkansas soybean market report for March 23-27, 2015
Author: Bob Stark, Agricultural Economist

Going down! The past weekend saw the 2014 Arkansas Cash Soybean market rose 9 cents to open on Monday with a $9.90 statewide average. But hopes of continued market gains were quickly dashed as price fell each successive trading day of the week. The market closed on Friday at a $9.74 closing statewide average, a 7 cent decline from the previous Friday closing average (Figure 1). High individual daily market quote of the past week was $10.10 on Monday at West Memphis. Blytheville and Old Town/Elaine followed closely at $10.09. Low daily quote of the week occurred on Friday with Wynne at $9.48. Thirteen markets provided price quotes each day of the past week. Friday closing prices ranged from the $9.48 low at Wynne to a $9.92 high at Blytheville, Osceola, West Memphis, and Old Town/Elaine. These end-of-week quotes left the market price range at 44 cents for the third straight week.

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

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

The 2015 soybean crop market matched the 9 cent weekend gain of the 2014 crop market, but then suffered a similar decline trend that extended through each successive trading day (Figure 2). The market opened on Monday at a crop statewide average of $9.50. Price declines of 2 to 6 cents occurred each day to a Friday closing average of $9.35, a 6 cent reduction from the previous end of week quote. High individual market quote for the past week was $9.65 at West Memphis on Monday. Low market quote for the week occurred on Friday with $9.19 at Augusta, Wynne, and Des Arc. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the $9.19 low at Augusta, Wynne, and Des Arc to a high of $9.49 at West Memphis and Osceola. These ending quotes represented a range of only 30 cents, a narrowing of 10 cents from the previous week closing quotes range.

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

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