By Bob Stark, Extension Agronomist
A 7 cent weekend gain for 2014 Arkansas Cash Soybean market was quickly lost in an 18 cent Tuesday decline before the market began to improve and continued gaining ground through the remainder of the week. The market opened at a statewide average of $8.96 on Monday, 3 cents under the previous Monday open. The Tuesday decline to a statewide average of $8.77 was gradually regained and the market closed the past trading week with a Friday statewide average price of $9.07, an 18 cent overall gain from the previous Friday closing mark and the first weekly close above $9.00 since August 14 (Figure 1). Eight markets again provided old crop quotes for the week. High individual daily market quote of the past week was $9.29 at Helena on Friday. Low daily quote of the week occurred on Tuesday as Augusta reported a price of $8.39. The Friday reported closing prices ranged from an $8.75 low at Augusta to the high of $9.29 at Helena. The closing range of 54 cents was 3 cents wider than the previous week.
The 2015 soybean crop booking market matched the 7 cent weekend gain of the old crop market and opened on Monday at $8.76, 8 cents under the previous week opening. The market lost 14 cents on Tuesday, but then proceeded to climb higher for the remainder of the week. Price ended the week at $8.91, a 22 cent increase from the previous week close (Figure 2). High daily individual market price of the week was $9.19 reported by Helena on Friday. The low market quote for the week occurred on Tuesday with Augusta at $8.38. Fourteen state markets continue to provide new crop quotes. End-of-the-week quotes saw closing day prices ranging from an $8.69 low at both Wynne and Des Arc to the high of $9.19 at Helena. Five locations closed the week with market quotes of $9.00 or higher. The ending quotes represented a range of 50 cents, unchanged 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.)