The Memorial Day extended weekend slapped a 27 cent loss on old crop soybeans as the market posted a $14.87 statewide average on the Tuesday opening day of trading. Price recovered moderately on Wednesday and Thursday before giving much of that gain back on Friday and closing with a $14.91 statewide average (Figure 1). The Friday average left the market with an overall 23 cent loss for the short week compared to the previous Friday closing price. Eleven of the fourteen major state markets are submitting quotes each weekday. High individual market daily quote was $15.33 on Wednesday at West Memphis. Low quote of the period was $14.62 at both Jonesboro and Des Arc on Tuesday. Closing quotes on Friday across reporting markets ranged from a $14.66 low at both Des Arc and Jonesboro to a $15.26 high at West Memphis. Blytheville and Osceola, at $15.17, were the only other markets finishing the week above the $15.00 level. These end-of-week quotes placed the market price range at 60 cents, a 2 cent narrowing from the prior week spread.
The 2014 New Crop Soybean Booking market equaled old crop trading with a 27 cent loss over the extended holiday weekend. Statewide market average on Tuesday was $12.40. Price regained some of its losses on Wednesday and Thursday, but then lost all of the weekly gains to finish at $12.35, a 32 cent overall loss from the previous Friday closing average (Figure 2). High individual market quote of the week was $12.59 at West Memphis, Helena, and Old Town/Elaine on Thursday. The low individual market quote for the week was at Augusta with $12.10 on Friday. All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread ranged from a high of $12.49 at West Memphis, Helena, and Old Town/Elaine to the $12.10 low at Augusta. These quotes left the closing market spread at 39 cents, one cent narrower than the gap of the previous 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.)