A 20 cent weekend decline in the old crop cash soybean market was a signal of things to come as trading posted a Monday opening average of $9.57 and moved steadily lower through each trading day. Low point of the week was the daily average of $9.06 on Friday, a 71 cent loss from the previous Friday closing price (Figure 1). The past week also was the first to have no daily averages above $10.00. High individual daily market quote for the week was $9.88 at Pendleton on Monday. The low was $8.85 on Friday at Augusta, the first individual market daily quote to be under $9.00 this marketing season. Price quotes for the week were received from nine markets. The Friday closing price ranged from the $8.85 low at Augusta to a high of $9.15 at West Memphis. These end-of-week quotes put the market price range at 30 cents, exactly half of the 60 cent span seen just the previous week.
The 2014 New Crop Soybean Booking market followed the old crop market early in the week and lost 18 cents over the weekend. Price opened at a statewide average of $9.40 on Monday. The market moved moderately lower through the first half of the week and then rapidly declined after Wednesday. The Friday statewide closing average was $9.07, another new seasonal low daily average (Figure 2). The new crop market closing represented a 51 cent decrease from the previous Friday close and finished the first week with any individual market daily quotes under $9.00. High individual market quote of the week was $9.68 reported by both Blytheville and Osceola on Monday. The low individual market quote was $8.70 from Wynne on Friday. All fourteen regular markets provided quotes each day during the past week. The end-of-week price spread ranged from a high of $9.30 at Osceola to the $8.70 low at Wynne. These quotes left the closing market spread at 60 cents, a 15 cent narrowing from the immediately previous week Friday closing 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.)