The old crop cash soybean market declined for the third straight week losing 7 cents over the weekend to a statewide average of $12.64 and continuing with losses almost every day of the trading week (Figure 1). A one cent gain on Wednesday represented the only day without a decline. Market price ended the week on Friday with a closing statewide average of $12.27, a 44 cent loss from the previous end of week trading mark. Reporting in the old crop market became more representative of the overall state market as Old Town/Elaine and Wynne joined the three markets of the past week in providing quotes. High individual daily market quote for the past week was $12.67 on both Monday and Wednesday at West Memphis. The low was $12.05 on Thursday at both Wynne and Old Town/Elaine. Closing quotes on Friday ranged from the $12.43 high at Blytheville and Osceola to the low of $12.07 at Wynne and Old Town/Elaine. These end-of-week quotes put the market price range at 36 cents, 9 cents wider than the previous week. Readers should again recognize that limited market quotes make this range change questionable.
The 2014 New Crop Soybean Booking market once again had a more consistent week of trading than the old crop market. Old crop price began the week at a statewide average of $10.88, an 11 cent increase from the previous Friday close. New crop beans then stayed within a 16 cent price range through the entire week and closed with a statewide average of $10.88 on Friday, an 11 cent overall gain from the previous Friday average (Figure 2). High individual market quote of the week was $11.22 reported by Old Town/Elaine on Wednesday. The low individual market quote for the sixth consecutive week was at Augusta with $10.61 on Friday, 4 cents less than the Des Arc average. All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread ranged from a high of $11.05 at West Memphis and Old Town/Elaine to the $10.61 low at Augusta. These quotes left the closing market spread at 44 cents, a 4 cent increase from the immediately previous week 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.)