The markets quotes discussed in this weekly report represent a change in reporting as per the AMS market descriptions. Cash prices are for the 2013 soybean crop. Prior January quotes were mistakenly described as continuing 2012 crop cash quotes when AMS had actually switched to the 2013 crop in January. The immediate past week began with a 4 cent weekend gain to a Monday statewide average of $13.19. Market price moved lower each day to its weekly low on Wednesday at $12.95 before turning around and climbing steadily to a Friday closing mark of $13.09 (Figure 1). The close left the market 6 cents below the prior Friday average. Only nine markets are submitting quotes of the fourteen state locations. High individual market daily quote was $13.50 on Monday at West Memphis. Low quote of the period was $12.77 at Jonesboro on Wednesday. Closing quotes across all reporting markets ranged from a $12.91 low at both Jonesboro and Des Arc to a $13.33 high at West Memphis. These end-of -week quotes left the market price range at only 42 cents, a narrowing of 7 cents from the previous week ending spread.
New Crop Soybean Market trading quotes represent early bookings of the 2014 crop. This market lost 7 cents over the extended weekend and opened on Monday with a statewide average of $11.01. Daily average price traded in a narrow 7 cent range for the entire week with only a slight strengthening on Friday (Figure 2). Price closed the week at $11.07 on Friday, 1 cent under the previous Friday ending price. High individual market quote of the week was $11.28 at Helena on Friday. Low individual market for the period was at Des Arc with $10.67 on Thursday. The week began with only nine of the fourteen state market locations submitting quotes, but the remaining five markets joined in on Wednesday and continued their participation through the week. Five of the fifteen reporting markets were below $11.00 at the end of the week. The end-of-week price spread extended from the high of $11.28 at Helena to a low of $10.75 at Des Arc. These quotes left the market spread at 53 cents, one cent wider than the previous week price range.
(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.)