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04
May
2015
Arkansas soybean market report for April 27-May 1, 2015
Author: Bob Stark, Agricultural Economist

The weekend prior to this past trading week saw the 2014 Arkansas Cash Soybean market gain 4 cents to produce a Monday opening statewide average of $9.81. Price rose through the first half of the week and flirted with the $10.00 level reaching a peak daily average of $9.97 on Wednesday. The promising opening was lost equally quick as the market fell 10 cents each remaining trading day to a Friday statewide average of $9.77, unchanged from the previous Friday closing price (Figure 1). High individual daily market quote of the past week was 13 cents stronger than the previous week with $10.19 on Wednesday at Old Town/Elaine. Low daily quote of the week occurred on Friday with Wynne reporting $9.50. Twelve markets continued to provide price quotes each day of the past week with Helena and Pine Bluff remaining absent. Friday closing prices to end the week ranged from the $9.50 low at Wynne to a $9.99 high at Old Town/Elaine. These end-of-week quotes left the market price range at 49 cents, a 5 cent expansion from the previous week closing range.

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

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

The 2015 soybean crop booking market was steady over the weekend preceding the past trading week and slowly gained momentum to a midweek high statewide average on Wednesday of $9.50 before declining sharply to close out the week (Figure 2). Price fell on Friday to a statewide closing average of $9.30, a 9 cent decline from the previous end of week quote. High individual market quote for the immediate past week was $9.70 at West Memphis on Wednesday. Low market quote for the week occurred on Friday with $9.11 reported at both Wynne and Des Arc. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the $9.11 low at Wynne and Des Arc to a high of $9.49 at West Memphis. These ending quotes represented a range of 38 cents, 4 cents wider than the previous week closing quotes range.

Fig. 2.  AR 2015 New Crop Soybean Market Prices (April 27-May 1, 2015)

Fig. 2. AR 2015 New Crop Soybean Market Prices (April 27-May 1, 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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