A week of trading for the 2014 crop AR cash soybean market that began with a 13 cent weekend rise showed how price trend can turn around quickly. The Monday statewide average was $10.47, up 13 cents from the previous Friday daily closing average. The strength quickly disappeared as the market moved steadily lower to a Wednesday low mark of $10.14. Just as quickly, the market rebounded on Thursday and Friday to end the week at a statewide closing average of $10.48, an overall gain of 14 cents from the previous Friday closing mark (Figure 1). High individual daily market quote for the week was $10.79 at West Memphis on Friday. Blytheville, at $10.71 on Monday was the only other daily average above $10.70 during the week. Low daily quote for the week occurred on Wednesday with $9.90 reported at Wynne. The Friday closing price ranged from a low of $10.24 at Wynne to the high of $10.79 at West Memphis. These end-of-week quotes left the market price range at 55 cents for the second straight week.
The Agricultural Marketing Service began recording its first quotes on the 2015 soybean crop this week. The market posted a $10.10 statewide average on Monday and then fell steadily to a weekly low of $9.77 on Wednesday. Trading reversed direction after Wednesday and rose steadily to a $10.01 statewide average on Friday. No further comparisons could be made as this was the first 2015 crop report.
(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.)