The past trading week in old crop cash soybeans opened with the market not well tested. Average price indicated a 68 cent weekend decline to the $10.96 Monday statewide average. The market declined further on Tuesday before posting gains on each of the remaining three trading days. The Friday statewide average was $11.26, a $1.38 cent fall from the previous Friday closing price (Figure 1). High individual daily market quote for the past week was $12.49 at West Memphis on Friday. This quote was the only one reported from that location and the market uncertainty was well illustrated by the next highest individual daily quote being $11.15 at both Pine Bluff and Old Town/Elaine, also on that Friday. The low was $10.59 on Tuesday at Augusta. Price reports for the week remained inconsistent with seven markets providing quotes at one time or another, but only three providing quotes on all five days. Friday closing price ranged from a $10.85 low at Augusta to the $11.15 Old Town/Elaine and Pine Bluff high. These end-of-week quotes put the market price range at 30 cents, a 6 cent narrowing from the previous week.
The 2014 New Crop Soybean Booking market again moved opposite to the old crop with a 19 cent increase over the weekend. But new crop price then followed the path of old crop beans, posting a loss on Tuesday before moving generally higher for the rest of the trading week. The market closed on Friday with a statewide average of $10.91, a 24 cent increase from the previous Friday close (Figure 2). High individual market quote of the week was $11.10 reported by Helena on Friday. The low individual market quote was $10.46 from Des Arc on Tuesday. All fourteen regular markets provided quotes during the past week. The end-of-week price spread ranged from the Helena high of $11.10 to a low of $10.65 at Des Arc. These quotes left the closing market spread at 45 cents, a 3 cent decrease 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.)