By Bob Stark, Agricultural Economist
The 2014 Arkansas Cash Soybean market lost 15 cents over the weekend and opened on Monday at a statewide average price of $8.83. Price slowly recovered through the week, overcoming even a Wednesday correction that dropped the market to an $8.74 average. The market closed on Friday at $8.98, unchanged from the previous Friday closing mark (Figure 1). Readers should note that the Helena market resumed providing quotes on Thursday, its first such reporting since September 12, 2014. High individual daily market quote of the past week was $9.21 at Helena on Friday. Low daily quote of the week occurred on Monday as Pine Bluff reported a price of $8.46. The Friday reported closing prices ranged from an $8.63 low at Augusta to the $9.21 high at Helena. The closing range of 58 cents was unchanged from the previous week with seven market participants entering quotes to end the week.
The 2015 soybean crop booking market lost 14 cents over the weekend and opened on Monday at $8.66, 40 cents under the previous week opening. The market then moved mostly higher through the week with a 13 cent downward correction on Wednesday that was fully recovered the following day. Statewide market average on Friday peaked for the week at $8.84, a 4 cent increase from the previous week close (Figure 2).
The market saw the return of Helena price quotes on Thursday after an absence since July 24. High daily individual price of the week was $9.11, reported from Helena on Friday. Low market quote for the week occurred on Wednesday with Wynne at $8.35. Fourteen of the state markets are currently providing new crop quotes. End-of-the-week quotes saw closing day prices ranging from an $8.56 low at Wynne to the high of $9.11 at Helena. Three markets closed the week at or above $9.00. The ending quotes represented a range of 55 cents, a 10 cent widening 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.)