The 2013 soybean crop market lost 6 cents over the weekend break and opened on this past Monday at $13.45. Price moved slightly higher through the week in a very erratic manner before closing Friday with a statewide average of $13.59 (Figure 1). The close left the market a net 8 cents above the prior Friday average. Five of the fourteen regular markets stopped submitting quotes during the week. High individual market daily quote was $13.89 on Thursday at West Memphis. Low quote of the period was $13.22 at Augusta on Monday. All market quotes fell within the $13.00-14.00 range during the past week. Closing quotes across all reporting markets ranged from a $13.41 low at both Des Arc and Jonesboro to a $13.83 high at West Memphis. These end-of -week quotes left the market price range at 42 cents, a widening of 3 cents from the previous week ending spread.
New Crop Soybean Market Prices representing early bookings of the 2014 crop lost 5 cents over the weekend to a statewide average on Monday of $11.22 and, like the cash market, generally moved higher in an erratic manner (Figure 2). Price closed at $11.34 on Friday, a 7 cent gain over the previous Friday ending price. High individual market quote of the week was $11.55 at West Memphis on Thursday. Low individual market for the period was at Des Arc with $10.96 on Monday. Des Arc also had the only other sub-$11.00 daily quote of the week with $10.99 on Wednesday. Again like the cash market, five state market locations ceased submitting 2014 crop booking quotes during the week. All of the nine reporting markets were above $11.00 at the end of the week. The end-of-week price spread extended from a high of $11.52 at West Memphis to a low of $11.11 at Des Arc. These quotes left the market spread at 41 cents, 2 cents less 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.)