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Bob Stark, agricultural economist, SEREC & UAM School of Agriculture, Monticello, provides a discussion of the Arkansas cash soybean market and a summary of the 2014 crop.
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From the University of Arkansas, Division of Agriculture, Bob Stark, ag economist, and Jeremy Ross, soybean agronomist, publish a weekly newsletter titled Soybean Notes. In his following remarks on Oct. 2, Stark provides a summary of the 2014 crop within his personal marketing period. It begins with early booking prices for the 2014 crop and extends through the post-harvest marketing months until Oct. 1 when USDA switches to the 2015 crop.
The 2014 Arkansas Cash Soybean market lost 12 cents over its last weekend of the market period and opened on the past Monday at an $8.79 statewide average. Price moved higher through the remaining two days of trading and ended the 2014 market period on Wednesday at $9.07, unchanged from the previous Friday closing average. Eight markets were providing old crop quotes when trading ended for the marketing season.
High individual daily market quote of the shortened week was $9.22 at Helena on Wednesday. Low daily quote of the week occurred on Monday as Augusta reported a price of $8.63. The Wednesday reported closing prices to end the season ranged from an $8.81 low at Augusta to the high of $9.22 at Helena. The closing range of 41 cents was 13 cents narrower than the previous week.
The 2015 soybean new crop booking market converted to the cash market on Oct. 1. The market had begun the past week with a 12-cent weekend loss to open on Monday at $8.79, 3 cents above the previous week opening. The market posted gains on Tuesday and Wednesday before entering a decline that carried it right back to its Monday statewide average. Price ended the week at $8.79, a 12- cent decline from the previous week close.
High daily individual market price of the week was $9.17 reported by Helena on Wednesday. The low market quote for the week occurred on Friday with both Des Arc and Wynne at $8.54. Fourteen state markets continue to provide price quotations. Endof- the-week quotes saw closing day prices ranging from the $8.54 low at both Wynne and Des Arc to a high of $9.06 at Helena. The only other individual market above the $9.00 level was Old Town/Elaine at $9.04. The ending quotes represented a range of 52 cents, an expansion of 2 cents from the closing quotes range of the previous week.
Oct. 2 AR cash soybean market
The 2014 Arkansas Cash Soybean market lost 12 cents over its last weekend of the market period and opened on the past Monday at an $8.79 statewide average. Price moved higher through the remaining two days of trading and ended the 2014 market period on Wednesday at $9.07, unchanged from the previous Friday closing average.
Eight markets were providing old crop quotes when trading ended for the marketing season. High individual daily market quote of the shortened week was $9.22 at Helena on Wednesday. Low daily quote of the week occurred on Monday as Augusta reported a price of $8.63. The Wednesday reported closing prices to end the season ranged from an $8.81 low at Augusta to the high of $9.22 at Helena. The closing range of 41 cents was 13 cents narrower than the previous week.
Oct. 20 AR cash soybean market
The 2015 soybean crop cash market gained 28 cents over the extended Columbus Day weekend and opened on Tuesday at $9.19, an improvement of 31 cents from the previous week opening. The market posted a modest gain on Wednesday before declining through the remainder of the week. Price still ended the week at $9.07, a 16-cent improvement from the previous week close.
High daily individual market price of the short week was $9.43 reported by Helena on Wednesday. The low market quote for the week occurred on Friday as Wynne fell to $8.78. Fourteen state markets provided quotes each trading day. End-of-the-week quotes saw closing day prices ranging from the $8.78 low at Wynne to a high of $9.30 at Helena. Ten individual markets ended the week above the $9 level, double the number of the previous week finish. Ending quotes represented a range of 52 cents, regaining the 4 cents lost from the closing quotes range in previous week of trading.