A 39 cent weekend decline in the 2013 Crop Soybean Cash Market seemed to set a tone for the entire week as price generally declined toward its weekly low price on Friday Figure 1). Monday trading averaged $14.30 statewide and the market moved steadily lower through Wednesday. A modest rally on Thursday was quickly lost on Friday as price fell to a closing statewide average of $13.98, a 71 cent loss from the prior Friday average. Eleven of the fourteen regular markets continue to submit old crop price quotes. High individual market daily quote was $14.46 on Monday at West Memphis. Low quote of the period was $13.80 at both Des Arc and Jonesboro on Wednesday. Closing quotes across all reporting markets ranged from a $13.82 low at both Des Arc and Jonesboro to a $14.14 high at Old Town/Elaine. End-of -week quotes left the market price range at 32 cents, a narrowing of 6 cents from the previous week ending spread and a total narrowing of 19 cents over the past three weeks.
2014 New Crop Soybean Booking prices showed more strength than the old crop cash market. The market lost only 10 cents over the weekend to a Monday statewide average of $11.83. Price actually moved higher on Tuesday before giving back all of the gain on Wednesday and then trading within a 5 cent range for the remainder of the week (Figure 2). Price closed at $11.80 on Friday, a 13 cent loss from the previous Friday ending price. High individual market quote of the week was $12.10 at Old Town/Elaine on Tuesday, one of only six individual market quotes above $12.00 during the week. Low individual market for the period was at Des Arc with $11.58 on Friday. Eleven of the fourteen state market locations submitted 2014 crop booking quotes during the week. The end-of-week price spread extended from a high of $11.90 at Pendleton, Blytheville, Old Town/Elaine, and Osceola to the low of $11.58 at Des Arc. These quotes left the market spread at 32 cents, a 6 cent narrowing 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.)