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18
Apr
2016
Arkansas soybean market report for April 11-15, 2016
Author: Bob Stark, Agricultural Economist

By Bob Stark, Agricultural Economist

The past week of trading in the Arkansas 2015 soybean crop cash market began with a 12 cent weekend gain and basically moved higher throughout the whole week.  The market opened on Monday with a $9.21 statewide average and gained 8 to 18 cents each day with the exception of Thursday when the market had an 8 cent downward correction.  Price finished the week on Friday at a statewide average of $9.48, 39 cents above the previous Friday closing mark (Figure 1).  High daily individual market price of the past trading week actually occurred on Wednesday with Helena at $9.66.  Low quote for the week was $9.00 on Monday at Wynne.  End-of-the-week quotes saw closing day prices ranging from a $9.28 low at Wynne to a $9.62 high at Helena.  Old Town/Elaine was close behind at $9.61, the first time that all markets ended above $9.00 since August 10.  The ending quotes represented a range of 34 cents, a 3 cent narrowing from the previous week closing spread.  Eleven markets are currently providing old crop price quotes.

Figure 1.  AR 2015 Crop Soybean Cash Market Prices (April 11-15, 2016)

Figure 1. AR 2015 Crop Soybean Cash Market Prices (April 11-15, 2016)

 

The 2016 New Crop Soybean Cash Market Booking price advantage over old crop beans has shrunk to about 11 cents.  The past weekend saw a 10 cent gain that enabled a $9.34 Monday statewide average.  Price continued higher into midweek before correcting on Thursday and regaining strength to end the week.  The market ended trading on Friday at a statewide average of $9.59, a 35 cent improvement from the previous Friday closing mark (Figure 2).  The $9.72 high market price of the past week was reported twice – on Wednesday at West Memphis and Helena and again on Friday at Old Town/Elaine and Helena.  All thirteen reporting markets closed the week above $9.00 for the third straight week.  Augusta market quotes remain absent.  Individual market daily low of the week was $9.11, reported on Monday at Wynne.  End-of-week individual market quotes on Friday ranged from a low of $9.37 at Wynne to the high of $9.72 at Old Town/Elaine and Helena.  These ending quotes put the closing spread at 35 cents across the reporting markets in the state, 2 cents narrower than the previous week closing range.

Figure 2.  AR 2016 New Crop Soybean Cash Market Prices (April 11-15, 2016)

Figure 2. AR 2016 New Crop Soybean Cash Market Prices (April 11-15, 2016)

(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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