By Bob Stark, Agricultural Economist
After holding steady over the weekend, the 2014 Arkansas Cash Soybean market lost 19 cents on Tuesday and never fully recovered through the past trading week. The market opened on Monday at a statewide average price of $8.98 and fell to $8.79 on Tuesday. Price remained within a 4 cent range through Thursday before staging a mild rally on Friday to close at $8.83, a 15 cent decline from the previous Friday closing mark (Figure 1). Seven markets continue to provide old crop quotes. High individual daily market quote of the past week was $9.23 at Helena on Monday. Low daily quote of the week occurred on Thursday as Augusta reported a price of $8.51. The Friday reported closing prices ranged from an $8.56 low at Augusta to a high of $9.02 at Helena, the only market finishing the week above $9.00. The closing range of 46 cents was 12 cents narrower than the previous week.
The 2015 soybean crop booking market moved similar to the old crop market, but with a much smaller recovery on Friday. New beans gained 1 cent over the weekend and opened on Monday at $8.85, 19 cents over the previous week opening. The market then moved lower for most of the week with a low daily average of $8.67 on Wednesday. Price remained within a 5 cent range for each of the last four trading days and ended the week at $8.70, a 14 cent decrease from the previous week close (Figure 2). High daily individual price of the week was $9.13, reported from Helena on Monday. Low market quote for the week occurred on Friday with Wynne at $8.37. Fourteen state markets are currently providing new crop quotes. End-of-the-week quotes saw closing day prices ranging from the $8.37 low at Wynne to a high of $9.02 at Helena. Only two markets closed the week at or above $9.00. The ending quotes represented a range of 65 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.)