This week marked the first full week of quotes for cash market soybeans that were previously labeled No. 1 Yellow Soybeans New Crop, represented the 2014 crop, and have now become the No. 1 Yellow Soybeans Cash prices.
Price surged 32 cents higher over the weekend preceding this past week of trading. The market posted a statewide average of $9.23 on Monday and was basically unchanged until Thursday when an 8 cent increase was seen. The optimism faded quickly with a 16 cent Friday loss that left the market at $9.17 (Figure 1). The closing mark still represented a 26 cent overall gain from the previous Friday closing price. High individual daily market quote for the week was $9.69 at Osceola on Thursday. The low was $8.83 on Friday at Wynne. Price quotes for the week were received from thirteen markets as Helena remained absent. The Friday closing price ranged from the $8.83 low at Wynne to a high of $9.50 at Osceola. These end-of-week quotes put the market price range at 67 cents, a 22 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.)