The past week of trading in old crop cash soybeans showed promise with a 6 cent gain, but price then moved lower to mid-week before making a weak recovery to end the week. The Monday statewide average was $10.89 and represented the highest daily average price of the entire week. Price fell to a weekly low of $10.71 on Wednesday before recovering to a Friday statewide average of $10.78, an overall 5 cent fall from the previous Friday closing price (Figure 1). High individual daily market quote for the past week was $11.62 at West Memphis on Friday. The low was $10.38 on both Wednesday and Thursday at Augusta. Price reports for the week solidified somewhat with seven markets providing quotes each day. Friday closing price ranged from a $10.42 low at Augusta to the high of $11.62 at West Memphis. These end-of-week quotes put the market price range at $1.20, a 35 cent widening from the previous week. It should be noted that the West Memphis market increased 19 cents from its Monday average to its Friday average. All other reporting markets showed a price decline for the same period.
The 2014 New Crop Soybean Booking market moved similar this week to the old crop. Price fell 5 cents over the weekend to a statewide average of $10.62 on Monday and then declined steadily through Wednesday before making a mild recovery for the rest of the trading week. The market closed on Friday with a statewide average of $10.46, an 11 cent decrease from the previous Friday close (Figure 2). High individual market quote of the week was $10.83 reported by Helena on Monday. The low individual market quote was $10.18 from both Wynne and Des Arc on Wednesday and Thursday. All fourteen regular markets provided quotes each day during the past week. The end-of-week price spread ranged from a high of $10.62 at West Memphis, Helena, and Old Town/Elaine to a low of $10.22 at Des Arc and Wynne. These quotes left the closing market spread at 40 cents, 5 cents narrower than 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.)