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23
May
2015
Arkansas soybean market report for May 18-22, 2015
Author: Bob Stark, Agricultural Economist

The 2014 Arkansas Cash Soybean market moved one cent higher over the weekend break to a Monday opening statewide average of $9.64. New crop price then had a steady daily decline throughout the trading week to a Friday closing statewide average of $9.33, a decline of 30 cents from the previous Friday closing price (Figure 1). High individual daily market quote of the past week was $9.90 at Blytheville and West Memphis on Monday. This high represented the first week without a $10.00 individual daily market quote since the April 18-19 weekend. Low daily quote of the immediate past week occurred on Friday with Augusta reporting $9.14. Wynne was just 1 cent higher on the same day. Thirteen markets still provided price quotes each day of the past week with only Helena absent. Friday closing prices to end the week ranged from the $9.14 low at Augusta to a $9.59 high at West Memphis. These end-of-week quotes put the market price range at 45 cents, a 3 cent contraction from the previous week closing range.

Fig. 1.  AR 2014 Crop Soybean Cash Market Prices (May 18-22, 2015)

Fig. 1. AR 2014 Crop Soybean Cash Market Prices (May 18-22, 2015)

The 2015 soybean crop booking market matched the 1 cent weekend loss of the old crop cash market and opened trading on Monday at $9.26. New crop price fell further on Tuesday to a level that persisted through midweek before weakening additionally on Friday to end the trading week. Price closed on Friday at $8.98, the first daily statewide average under $9.00 for the new crop market (Figure 2). The Friday statewide closing average price was 27 cents less than the previous end of week quote. High individual market quote for the immediate past week was $9.45 at both West Memphis and Old Town/Elaine on Monday. Low market quote for the week occurred on Friday with $8.77 reported at both Wynne and Des Arc. All fourteen state markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the $8.77 low at both Wynne and Des Arc to a high of $9.17 at West Memphis and Old Town/Elaine. These ending quotes represent a range of 40 cents, unchanged from the previous week closing quotes range.

FIg. 2.  AR 2015 New Crop Soybean Market Prices (May 18-22, 2015)

FIg. 2. AR 2015 New Crop Soybean Market Prices (May 18-22, 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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