A 12 cent weekend decline led to daily declines through Wednesday in old crop cash soybeans before price stabilized for the remaining days of trading. The Monday statewide average was $11.16 and price fell to a weekly low of $10.80 on Wednesday. The stabilizing of market price led to a Friday statewide average of $10.83, a 45 cent fall from the previous Friday closing price (Figure 1). High individual daily market quote for the past week was $12.28 at West Memphis on Monday, the only daily market quote from any market that exceeded the $12.00 level. The low was $10.47 on Wednesday at Augusta. Price reports for the week remained inconsistent with six markets providing quotes each day and Old Town/Elaine reporting only on Monday through Wednesday. Friday closing price ranged from a $10.52 low at Augusta to a high of $11.37 at West Memphis. These end-of-week quotes put the market price range at 85 cents, a 55 cent widening from the previous week.
The 2014 New Crop Soybean Booking market moved similar this week to the old crop with a 12 cent decrease over the weekend. New crop price had a statewide average of $10.79 on Monday and then continued to decline through Wednesday before going fairly steady for the rest of the trading week. The market closed on Friday with a statewide average of $10.57, a 34 cent decrease from the previous Friday close (Figure 2). High individual market quote of the week was $10.98 reported by Helena on Monday. The low individual market quote was $10.27 from Des Arc on Wednesday. All fourteen regular markets provided quotes each day during the past week. The end-of-week price spread ranged from a high of $10.77 at Helena to a low of $10.32 at Des Arc. These quotes left the closing market spread at 45 cents, unchanged 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.)