An 8 cent weekend loss set the trend for the old crop cash soybean market as price averaged $10.70 on Monday and moved steadily lower through the week before closing at a Friday statewide average of $10.49, a full 29 cents under the previous Friday closing price and the lowest daily average of 2014 (Figure 1). High individual daily market quote for the past week was $11.83 at West Memphis on Tuesday. The low was $10.24 on Friday at both Pine Bluff and Augusta. Price reports for the week continued to be submitted by seven markets each day. Friday closing price ranged from the $10.24 low at Augusta and Pine Bluff to a high of $10.79 at West Memphis. These end-of-week quotes put the market price range at 55 cents, a 65 cent narrowing from the previous week. It should be recalled that last week the West Memphis market moved opposite from all other reporting markets and the overall range may have been skewed.
The 2014 New Crop Soybean Booking market was basically steady throughout the past week. Price fell 13 cents over the weekend to a statewide average of $10.33 on Monday. The market stayed within a 4 cent range for much of the remaining days before again showing weakness to end the week (Figure 2). The market closed on Friday with a statewide average of $10.27, a 19 cent decrease from the previous Friday close. High individual market quote of the week was $10.54 reported by West Memphis on Monday. The low individual market quote was $10.04 from Des Arc on both Wednesday and Friday. All fourteen regular markets provided quotes each day during the past week. The end-of-week price spread ranged from a high of $10.44 at Pendleton, Helena, and Old Town/Elaine to the low of $10.04 at Des Arc. These quotes left the closing market spread at 40 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.)