An 11 cent loss over the weekend put the old crop soybean market at an opening statewide average of $14.60 on Monday and the market continued falling through Wednesday, a reverse pattern from the previous week. But price stabilized and proceeded to rise each of the remaining trading days to a daily high for the week of $14.84 on Friday (Figure 1). The Friday average left the market with an overall 13 cent gain for the week over the previous Friday closing price. Eleven markets submitted quotes most weekdays although Wynne did not submit a quote on Friday. High individual market daily quote was $15.07 on Friday at West Memphis. Blytheville and Osceola followed closely at $15.06 on the same day. Low quote of the period was $14.19 at both Jonesboro and Des Arc on Wednesday. Closing quotes on Friday across reporting markets ranged from a $14.60 low at both Des Arc and Jonesboro to the $15.07 high at West Memphis. The end-of-week quotes placed the market price range at 47 cents, a 12 cent widening that exactly reversed the narrowing from the prior week.
The 41 cent daily average variation in the old crop market was not matched in the 2014 New Crop Soybean Booking market as price moved only within a 10 cent high to low range. Unlike the old crop weekend decline, new crop price actually rose 5 cents over the weekend to a Monday statewide average of $12.27. The market hit a low of $12.17 on Wednesday, but gained most of its losses back to finish at $12.25, just 2 cents under the Monday daily average and a net 3 cents above the previous Friday closing price (Figure 2). High individual market quote of the week was $12.39 at Helena on Monday. The low individual market quote for the week was at Augusta with $11.89 on Wednesday. All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread extended from a high of $12.37 at Helena to a low of $11.98 at Augusta. These quotes left the closing market spread at 39 cents for the third straight week.
(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.)