The past week of old crop cash soybean trading in September opened promisingly with an 8 cent weekend gain to a Monday opening average of $10.27. But the market then established a lower trend that was shown most trading days of the week, finally reaching the daily low of the week at $9.77 on Friday, a 42 cent loss from the previous Friday closing price. Thursday and Friday were the first sub-$10.00 daily averages on the 2014 crop (Figure 1). High individual daily market quote for the week was $10.40 at both Old Town/Elaine and Pendleton on Monday. The low was $9.47 on Friday at Augusta. Price quotes for the week were received from nine markets as Helena ceased providing market quotes. Friday closing price ranged from the $9.47 low at Augusta to a high of $10.07 at Pendleton, the only state market exceeding $10.00 besides Stuttgart at $10.02. These end-of-week quotes put the market price range at 60 cents, a 5 cent narrowing from the previous week.
The 2014 New Crop Soybean Booking market was less optimistic than the old crop market and gained only 2 cents over the weekend. Price opened at a statewide average of $9.94 on Monday. The market then moved generally lower throughout each trading day, closing at a new seasonal low daily average of $9.58 on Friday (Figure 2). The new crop market closing represented a 34 cent decrease from the previous Friday close and was the first entire week with quotes under $10.00. High individual market quote of the week was $10.40 reported by Old Town/Elaine on Monday. The low individual market quote was $9.17 from Wynne on Friday. All of the 14 individual markets reported sub-$10.00 averages to close the week compared to only seven on the previous Friday. All fourteen regular markets provided quotes each day during the past week. The end-of-week price spread ranged from a high of $9.92 at Osceola to the $9.17 low at Wynne. These quotes left the closing market spread at 75 cents, a 5 cent narrowing from the immediately previous week Friday 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.)