A 7 cent weekend gain provided optimism for the 2014 Arkansas Cash Soybean market to open the past week of trading. The Monday opening statewide average price stood at $9.47, an improvement of 15 cents from the previous trading week. Old crop price built on the weekend gain on Tuesday before weakening slightly through to the end of the week. Closing statewide average on Friday was $9.46, a 6 cent overall gain from the previous Friday closing price (Figure 1). High individual daily market quote of the past week was $9.82 at both Blytheville and Osceola on Tuesday. Eleven markets provided price quotes for most of the past week as some have stopped providing quotes on old crop beans. Low daily quote of the immediate past week occurred on Thursday with Augusta reporting $9.30. Wynne was just 1 cent higher on both Thursday and Friday. Friday closing prices to end the week ranged from the $9.31 low at Augusta to a $9.75 high at Blytheville. These end-of-week quotes put the market price range at 44 cents, a 14 cent expansion from the previous week closing range.
The 2015 soybean crop booking market matched the old crop with a 7 cent weekend gain of its own to open trading on Monday at $9.11. New crop price moved similarly to old crop with some market strength on Tuesday before entering a fairly steady decline to close out trading. The Friday closing price was $8.96, an 8 cent retreat from the previous Friday closing mark (Figure 2). High individual market quote for the week was $9.35 at Old Town/Elaine on Tuesday. Low market quote for the week occurred on Friday with Wynne falling to $8.74. All fourteen state markets continued to provide new crop quotes. End-of-the-week quotes saw market prices ranging from the $8.74 low at Wynne to a high of $9.14 at Old Town/Elaine. Only five markets closed the week above $9.00. The ending quotes represent a range of 40 cents, a contraction of 3 cents from the closing quotes range of the previous week.
(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.)