The 1 cent weekend gain posted by the 2014 Arkansas Cash Soybean market turned into a solid rally that extended through most of the abbreviated pre-Easter trading week. Price opened on Monday with a $9.75 statewide average. The good start continued through Wednesday as price rose each trading day before suffering a partial correction on the last day of trading, Thursday, to a $9.89 closing statewide average, a 15 cent improvement from the previous Friday closing average (Figure 1). High individual daily market quote of the past week was $10.15 on Wednesday at West Memphis and Old Town/Elaine. Low daily quote of the week occurred on Monday with Wynne at $9.49. Thirteen markets provided price quotes early in the past week before the market thinned as Good Friday/Easter approached. Thursday closing prices to end the week ranged from a $9.66 low at Augusta to a $10.11 high at Old Town/Elaine. These end-of-week quotes left the market price range at 45 cents, a 1 cent wider spread than the prior week closing range.
The 2015 soybean crop market was unchanged over the past weekend and opened trading on Monday at a statewide average of $9.35 (Figure 2). Price gains of 7 cents were achieved on both Tuesday and Wednesday before the market finished the shortened holiday week with a Thursday closing average of $9.60, a 25 cent improvement from the previous end of week quote. High individual market quote for the past week was $9.74 at West Memphis and Osceola on Thursday. Low market quote for the week occurred on Monday with $9.19 at Augusta, Wynne, and Des Arc. All fourteen markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a $9.44 low at Augusta, Wynne, and Des Arc to a high of $9.74 at both West Memphis and Osceola. These ending quotes represented a range of 30 cents, unchanged 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.)