The 2014 crop AR cash soybean market surged upward 29 cents over last weekend and then followed an upward trend throughout the past week of trading. The market opened the week with a statewide average of $10.16 on Monday. Price then remained steady on Tuesday before climbing sharply to a weekly high of $10.52 on Wednesday. Much of the gain on that day was given back on Thursday as the market lost 22 cents, but a strong Friday rally recovered all of the losses and again left the market at $10.52, its highest daily statewide average since mid-August (Figure 1). The Friday closing price represented an overall 65 cent gain from the previous Friday closing mark. High individual daily market quote for the week was $10.83 at Osceola on Wednesday. The low for the week occurred on Monday with $9.91 reported at Wynne, one of only three individual daily market quotes under $10.00 during the week. The Friday closing price ranged from a low of $10.32 at Wynne to a high of $10.80 at West Memphis. These end-of-week quotes put the market price range at 48 cents, a 7 cent contraction from the previous week gap.
(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.)