The past week of old crop cash soybean trading opened well at $14.99, an 8 cent weekend gain, but then proceeded into a sharp decline throughout the week to a Friday closing average of $14.52, the lowest daily statewide average since May 7 (Figure 1). The Friday average left the market with an overall 39 cent loss for the 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 $15.34 on Monday at West Memphis. Low quote of the period was $14.30 at both Jonesboro and Des Arc on Friday. Closing quotes on Friday across reporting markets ranged from the $14.30 low at both Des Arc and Jonesboro to a $14.82 high at West Memphis. These end-of-week quotes placed the market price range at 52 cents, an 8 cent narrowing from the prior week spread.
The 2014 New Crop Soybean Booking market lost 4 cents over the weekend and opened on Monday with a statewide average of $12.31. Price declined for most of the week before staging a comeback on Friday to a closing average of $12.20, a 15 cent overall decline from the previous Friday average (Figure 2). High individual market quote of the week was $12.45 at West Memphis, Helena, and Old Town/Elaine on Monday. The low individual market quote for the week was at Des Arc with $11.91 on Thursday. All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread ranged from a high of $12.34 at West Memphis, Helena, and Old Town/Elaine to an $11.95 low at Augusta. Des Arc was the only other market ending the week under $12.00 at $11.99. These quotes left the closing market spread at 39 cents, unchanged from 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.)