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28
Apr
2015
Arkansas soybean market report for April 20-24, 2015
Author: Bob Stark, Agricultural Economist

A 9 cent weekend gain in the 2014 Arkansas Cash Soybean market pushed the Monday opening statewide average to $9.85. The promising opening quickly faded as price stayed within a 9 cent range for the remainder of the week, finishing on Friday at a statewide average of $9.77, just a single penny above the previous Friday closing price (Figure 1). High individual daily market quote of the past week was $10.06 on Thursday at West Memphis. Low daily quote of the week occurred on Wednesday with Des Arc reporting $9.08. Twelve markets provided price quotes each day of the past week with Helena and Pine Bluff continuing to be absent. Friday closing prices to end the week ranged from a $9.51 low at Wynne to a $9.95 high at Blytheville, West Memphis, Old Town/Elaine, and Osceola. These end-of-week quotes left the market price range at 44 cents as the market exactly regained the 10 cents of range lost in just the prior week.

Fig. 1.  AR 2014 Crop Soybean Cash Market Prices (April 20, 2015-April 24, 2015)

Fig. 1. AR 2014 Crop Soybean Cash Market Prices (April 20, 2015-April 24, 2015)

The 2015 soybean crop booking market gained just over half of the old crop market surge with a 5 cent weekend rise. Price opened trading on Monday at a statewide average of $9.44, a 19 cent improvement over the previous Monday, but then traded in a narrow 9 cent range throughout the past week (Figure 2). Price closed on Friday at a statewide closing average of $9.39, unchanged from the previous end of week quote. High individual market quote for the immediate past week was $9.66 at West Memphis on Thursday. Low market quote for the week occurred on Friday with $9.23 at Wynne and Des Arc. Augusta was just one cent better at $9.24. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the $9.23 low at Wynne and Des Arc to a high of $9.57 at West Memphis. These ending quotes represented a range of 34 cents, one cent greater than the previous week closing quotes range.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (April 20, 2015-April 24, 2015)

Fig. 2. AR 2015 New Crop Soybean Market Prices (April 20, 2015-April 24, 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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