Some weakness was indicated in the 2014 Arkansas Cash Soybean market as price fell 2 cents over the weekend break to a Monday opening statewide average of $9.83. Price then dropped hard on Tuesday losing 19 cents before stabilizing with a 4 cent band for the remainder of the week. The Friday closing statewide average to end the week was $9.63, a decline of 22 cents from the previous Friday closing price (Figure 1). High individual daily market quote of the past week was $10.04 at Blytheville, West Memphis, and Osceola on Monday. Low daily quote of the week occurred on Friday with Augusta reporting $9.43. Wynne was just 1 cent higher on the same day. Thirteen markets still provided price quotes each day of the past week with only Helena absent. Friday closing prices to end the week ranged from the $9.43 low at Augusta to a $9.91 high at West Memphis. These end-of-week quotes put the market price range at 48 cents, a 9 cent expansion from the previous week closing range.
The 2015 soybean crop booking market matched the 2 cent weekend loss of the old crop cash market and opened trading on Monday at $9.40. New crop price followed the old crop lower on Tuesday with a 19 cent loss of its own. Price then recovered slightly on Wednesday and remained stable for the rest of the week with averages of $9.25-9.28 for all three remaining trading days (Figure 2). Friday statewide closing average price was $9.25, a 17 cent loss from the previous end of week quote. High individual market quote for the immediate past week was $9.60 at Old Town/Elaine on Monday. Low market quote for the week occurred on Tuesday with $9.01 reported at both Wynne and Des Arc. All fourteen state markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from a $9.05 low at both Wynne and Des Arc to a high of $9.45 at West Memphis and Old Town/Elaine. These ending quotes represent a range of 40 cents, 2 cents wider than 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.)