Going down! The past weekend saw the 2014 Arkansas Cash Soybean market rose 9 cents to open on Monday with a $9.90 statewide average. But hopes of continued market gains were quickly dashed as price fell each successive trading day of the week. The market closed on Friday at a $9.74 closing statewide average, a 7 cent decline from the previous Friday closing average (Figure 1). High individual daily market quote of the past week was $10.10 on Monday at West Memphis. Blytheville and Old Town/Elaine followed closely at $10.09. Low daily quote of the week occurred on Friday with Wynne at $9.48. Thirteen markets provided price quotes each day of the past week. Friday closing prices ranged from the $9.48 low at Wynne to a $9.92 high at Blytheville, Osceola, West Memphis, and Old Town/Elaine. These end-of-week quotes left the market price range at 44 cents for the third straight week.
The 2015 soybean crop market matched the 9 cent weekend gain of the 2014 crop market, but then suffered a similar decline trend that extended through each successive trading day (Figure 2). The market opened on Monday at a crop statewide average of $9.50. Price declines of 2 to 6 cents occurred each day to a Friday closing average of $9.35, a 6 cent reduction from the previous end of week quote. High individual market quote for the past week was $9.65 at West Memphis on Monday. Low market quote for the week occurred on Friday with $9.19 at Augusta, Wynne, and Des Arc. Fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the $9.19 low at Augusta, Wynne, and Des Arc to a high of $9.49 at West Memphis and Osceola. These ending quotes represented a range of only 30 cents, a narrowing of 10 cents from the previous week closing quotes range.
(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.)