The Presidents’ Day holiday provided a long weekend adjustment period prior to the past trading week. The market took advantage of the period to get a 17 cent price increase and open on Tuesday with a $10.19 statewide average. The market lost 12 of those cents on Tuesday and had price fluctuations over the remainder of the week before closing with a $10.12 statewide average on Friday. The closing mark left old crop soybeans 10 cents higher than the prior week closing price and continued the “above $10.00” trading days (Figure 1). High individual daily market quote of the past week was $10.47 at Old Town/Elaine on Thursday. Low daily quote for the week occurred on Wednesday with Wynne at $9.81. Twelve locations continued providing market reports each trading day of the past week. Friday closing prices ranged from a $9.84 low at Wynne to a high of $10.44 at West Memphis. These end-of-week quotes left the market price range at 60 cents, an increase of 10 cents from the previous week interval.
The 2015 soybean crop market was slightly less volatile than the 2014 crop and only posted a 15 cent gain over the extended weekend. Statewide trading on Monday placed the statewide average at $9.77. Price declined 10 cents on Tuesday and bounced within an 8 cent interval over the remaining days of trading in the week. The Friday closing average was $9.68, a 6 cent improvement from the previous end of week quote. High individual market quote for the past week was $10.11 reported at Helena on Tuesday. The same location reported a $10.02 quote on Wednesday, the only other daily quote at or above $10.00 this week in the state. Low market quote for the week occurred on Wednesday with $9.47 at Augusta, Wynne, and Des Arc. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.50 at Augusta, Des Arc, and Wynne to a high of $9.82 at Osceola. These ending quotes represented a range of only 32 cents, 23 cents narrower than the range of the previous week closing quotes. The retraction basically offset a previous week expansion that seemed to be associated with the reentry of Helena to the reporting market locations.
(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.)