Arkansas Soybeans: Cash Market Closes with Gain

    The shortened Thanksgiving week of trading for the 2014 crop AR cash soybean market began with a 4 cent weekend loss, recovered nicely on Tuesday, and then closed with a comfortable weekly gain on Wednesday.

    The Monday statewide average was $10.44 and a 17 cent Tuesday gain took the market to its short week high. The strength disappeared slightly on Wednesday as the market retreated to $10.57, but it still represented a 9 cent improvement over the prior Friday closing mark (Figure 1).

    High individual daily market quote for the week was $10.93 at West Memphis on Tuesday with Old Town/Elaine at $10.91. Low daily quote for the week occurred on Monday with $10.19 reported at Wynne. No individual markets fell below $10.00 or rose above $11.00 during the short week. The Friday closing price ranged from a low of $10.32 at Wynne to a high of $10.92 at West Memphis.

    These end-of-week quotes left the market price range at 60 cents, a 5 cent expansion from the range of the previous two weeks.

    Fig. 1.  AR 2014 New Crop Soybean Market Prices - Nov. 24-28, 2014

    The Agricultural Marketing Service began recording its first quotes on the 2015 soybean crop on November 17. This shortened trading week saw the market lose 9 cents over the weekend to a $9.93 statewide average on Monday and then regain its losses and more on Tuesday before settling at a statewide average of $10.05 on Wednesday to end the week. High individual market quote for the week was $10.24 reported at Old Town/Elaine on Wednesday. The low for this week was $9.75 at both Augusta and Des Arc on Monday.

    Thirteen markets are providing new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.87 at Augusta to a high of $10.22 at Old Town/Elaine. These quotes represented a range of 35 cents, a 5 cent narrowing from the previous Friday closing quotes.

    Fig. 2.  AR 2015 New Crop Soybean Market Prices - Nov. 24-28, 2014

    (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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