A 4 cent weekend decline in the old crop cash soybean market put market price at a statewide average of $14.17 to open trading for the week. Price fluctuated throughout the week with two days of gains and three of losses before finishing on Friday with a closing statewide average of $14.11, an 10 cent decline from the previous Friday closing mark (Figure 1). Ten of the fourteen major state markets continue to submit quotes each weekday after Pine Bluff dropped out on Friday. High individual market daily quote for the past week was $14.42 on Monday at West Memphis. Low quote of the period was $13.71 at both Jonesboro and Des Arc on Tuesday. Closing quotes on Friday across the twelve reporting markets ranged from a $13.89 low at both Des Arc and Jonesboro to a $14.36 high at West Memphis. These end-of-week quotes left the market price range at 47 cents, unchanged from the prior week spread.
The 2014 New Crop Soybean Booking market showed more strength than the old crop market. Despite a 4 cent loss over the weekend, the new crop market posted gains each remaining day of trading before closing on Friday with a statewide average of $12.33, a 10 cent overall gain from the previous Friday average (Figure 2). High individual market quote of the week was $12.49 at West Memphis on Friday. The low individual market quote for the second consecutive week was at Augusta with $11.88 on Tuesday. Augusta and Des Arc were the only state markets with sub-$12.00 daily price quotes, each having three such days during the week. All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread ranged from the high of $12.49 at West Memphis to a $12.08 low at Augusta. These quotes left the closing market spread at 41 cents, a 2 cent expansion from the previous closing 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.)