A 16 cent weekend gain pushed the 2013 soybean cash market above the $14.00 level to open the past week at a Monday statewide average of $14.09. Market price posted steady gains most of the week with only a Thursday “correction” that was fully recovered on Friday to a closing statewide average of $14.34 (Figure 1). The close left the market 41 cents above the prior Friday average. Thirteen of the fourteen regular markets were submitting quotes during the week with only Pine Bluff absent. High individual market daily quote was $14.57 on Wednesday at West Memphis. Low quote of the period was $13.86 at Augusta on Monday. Closing quotes across all reporting markets ranged from a $14.13 low at Augusta to a $14.54 high at Old Town/Elaine. The end-of -week quotes left the market price range at 41 cents, a narrowing of 10 cents from the previous week ending spread.
The New Crop Soybean Market Price on early bookings of the 2014 crop tracked the old crop market by gaining 6 cents over the weekend to a statewide average on Monday of $11.65. Price moved gradually higher until the Thursday “correction” in price, but regained its losses on Friday to post a new season high (Figure 2). Price closed at $11.75 on Friday, a 16 cent gain over the previous Friday ending price. High individual market quote of the week was $11.94 at Old Town/Elaine on Friday. Low individual market for the period was at Des Arc with $11.36 on Thursday. Like the cash market, fourteen state market locations submitted 2014 crop booking quotes during the week with only Pine Bluff absent. The end-of-week price spread extended from the high of $11.94 at Old Town/Elaine to a low of $11.49 at Des Arc. These quotes left the market spread at 45 cents, a 4 cent expansion from 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.)