The 2014 crop AR cash soybean market began the past week of trading with an 8 cent weekend gain to open on Monday with a statewide average of $10.54. Price added 6 more cents on Tuesday before encountering a Wednesday correction that ate away all of the weekend and early week gains. Price climbed higher over the remaining two days of trading and closed on Friday at $10.57, an 11 cent gain from the prior week closing mark (Figure 1). Interestingly, the previous week of trading had lost exactly 11 cents overall from its pre-Thanksgiving closing price. High individual daily market quote of the past week was $10.99 at West Memphis on Tuesday. Low daily quote for the week occurred on Wednesday as Wynne fell to $10.17. All individual reporting markets posted daily individual averages above $10.00 and below $11.00 each day this week. The Friday closing prices ranged from a low of $10.32 at Wynne to a high of $10.89 at West Memphis. These end-of-week quotes left the market price range at 57 cents, an 8 cent contraction from the previous week ending range.
The 2015 soybean crop market traded in a much narrower range than the 2014 crop cash market this past week. Price rose 2 cents over the weekend to a Monday statewide average of an even $10.00. A small gain on Tuesday was fully offset by a Wednesday loss before the market put together consecutive gains on Thursday and Friday to end the week higher overall. The Friday closing average was $10.05, a 7 cent improvement from the previous end of week quote. High individual market quote for the week was $10.20 reported at Old Town/Elaine on both Tuesday and Friday. Osceola and West Memphis also closed the week at $10.20. The low for this week was $9.75 at both Augusta and Des Arc on Wednesday. Thirteen markets continue to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.85 at Des Arc to the high of $10.20 at Old Town/Elaine, Osceola, and West Memphis. These quotes represented a range of 35 cents, a widening of 5 cents from the previous week closing quotes.
(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.)