By Bob Stark, Agricultural Economist
The 2014 Arkansas Cash Soybean market fell 15 cents over the weekend and opened this past Monday with a statewide average price of $10.07. Only three markets continued to provide quotes in Arkansas after Monday: Wynne, Old Town/Elaine, and Stuttgart. The market initially moved higher early in the week before plateauing and declining sharply to close out the week. The movements left the statewide average at $9.98 on Friday, the first time below the $10.00 level since June 24 (Figure 1). High individual daily market quote of the past week was $10.41 at Old Town/Elaine on Wednesday. Low daily quote of the week occurred on Monday with Pine Bluff reporting a price of $9.76 before ceasing its reporting. The Friday reported closing prices ranged from a $9.82 low at Wynne to a high of $10.11 at Old Town/Elaine. This range of 29 cents is unchanged from the previous week, but may not be accurate since only three markets provided price quotes last Friday.
The 2015 soybean crop booking market lost 7 cents over the weekend break and opened trading on Monday at $9.79. New crop market price strengthened somewhat on Tuesday, but then entered into a week-long decline similar to the old crop market. 2015 new crop market beans ended the week at a statewide average of $9.49, an overall 37 cent decline from the previous week close (Figure 2).
High individual market quote for the week was $10.15 at Helena on Tuesday. Low market quote for the week occurred on Friday with Augusta at $9.29. All of the fourteen regular state markets continued to provide new crop quotes. End-of-the-week quotes saw all of the markets below the $10.00 level. Closing day prices to end the week ranged from the $9.29 low at Augusta to a high of $9.75 at Helena. The ending quotes represent a range of 46 cents, a 9 cent narrowing 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.)