This week marked the transition of quotes for cash market soybeans. Quotes on the old 2013 crop and labeled No. 1 Yellow Soybeans Cash ended on Tuesday. The final 2013 crop statewide daily average on that day was $9.05, the lowest such average since AMS began publishing 2013 quotes on December 16, 2013. The late start for quotations had been due to the government shutdown that began in that November. Quotes previously labeled No. 1 Yellow Soybeans New Crop and represented the 2014 crop have now become the No. 1 Yellow Soybeans Cash prices and no New Crop quotes are currently being reported.
The weekend preceding this past week of new crop cash soybean market trading saw an 8 cent gain in price to the Monday opening average of $9.15, but the market then generally moved lower through the remaining trading days to reach a new daily average low for the season (Figure 1). The cash market closed on Friday with a daily average of $8.91, a 16 cent loss from the previous Friday closing price. High individual daily market quote for the week was $9.30 at Osceola on Thursday. The low was $8.67 on Friday at Augusta. Price quotes for the week were received from thirteen markets with only Helena absent. The Friday closing price ranged from the $8.67 low at Augusta to a high of $9.12 at West Memphis. These end-of-week quotes put the market price range at 45 cents, a 15 cent expansion from the previous week.
(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.)