A 7 cent weekend drop in the 2014 crop AR cash soybean market was quickly overcome as the market saw a 20 cent improvement from Monday to Tuesday, held steady on Wednesday, and surged again up 30 cents on Thursday before suffering an 18 cent downward correction on Friday. The market opened the week with a statewide average of $9.55 on Monday. Price then proceeded to move above the $10.00 level on Thursday, the first time reaching that level since September 8. The Friday correction dropped the statewide average to $9.87 on Friday, but the closing price still represented an overall 25 cent gain from the previous Friday closing mark (Figure 1). High individual daily market quote for the week was $10.33 at Osceola on Thursday. Six of the thirteen reporting markets exceeded $10.00 on that day and four ended the week above $10.00. The low for the week occurred on Monday with $9.19 reported at Wynne. The Friday closing price ranged from a low of $9.63 at Wynne to a high of $10.18 at Osceola. These end-of-week quotes put the market price range at 55 cents, a 10 cent contraction 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.)