By Bob Stark, Extension Economist
The extended Labor Day weekend generated a 4 cent gain for 2014 Arkansas Cash Soybeans and the market opened at a statewide average of $8.87 on Tuesday. A 6 cent decline on Wednesday was almost fully recovered the next day and the market closed the past trading week with a Friday statewide average price of $8.88, a 5 cent overall gain from the previous Friday closing mark (Figure 1). Seven markets provided old crop quotes for most of the week with the Pendleton market reentering the report on Thursday and Friday. High individual daily market quote of the past week was $9.06 at West Memphis on Friday. Low daily quote of the week occurred on Wednesday as both Pine Bluff and Augusta reported a price of $8.57. The Friday reported closing prices ranged from an $8.64 low at Pine Bluff to the high of $9.06 at West Memphis. The closing range of 42 cents was 4 cents narrower than the previous week.
The 2015 soybean crop booking market moved very similar to the old crop market after making a much larger weekend gain. New beans gained 8 cents over the weekend and opened on Tuesday at $8.78, 7 cents under the previous week opening. The market lost the 7 cents on Wednesday and then traded within a 3 cent range for the remainder of the week. Price ended the week at $8.74, a 4 cent increase from the previous week close (Figure 2). High daily individual market price of the week was $9.09 reported by Old Town/Elaine on Tuesday. The same location had a Wednesday market quote of $9.02, the only individual daily quotes at or above $9.00 for the entire week. Low market quote for the week occurred on Wednesday with Wynne at $8.42 as the high/low difference for the week shrank. Fourteen state markets continue to provide new crop quotes. End-of-the-week quotes saw closing day prices ranging from an $8.44 low at Wynne to a high of $8.99 at Helena. No markets closed the week at or above $9.00. The ending quotes represented a range of 55 cents, a 10 cent narrowing from the closing quotes range of the previous week. Interestingly, the current week price range narrowing exactly offset the expansion 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.)