By Bob Stark, Agricultural Economist
The 2014 Arkansas Cash Soybean market lost 12 cents over its last weekend of the market period and opened on the past Monday at an $8.79 statewide average. Price moved higher through the remaining two days of trading and ended the 2014 market period on Wednesday at $9.07, unchanged from the previous Friday closing average (Figure 1). Eight markets were providing old crop quotes when trading ended for the marketing season. High individual daily market quote of the shortened week was $9.22 at Helena on Wednesday. Low daily quote of the week occurred on Monday as Augusta reported a price of $8.63. The Wednesday reported closing prices to end the season ranged from an $8.81 low at Augusta to the high of $9.22 at Helena. The closing range of 41 cents was 13 cents narrower than the previous week.
A summary of the 2014 crop marketing season showed that trading began on January 2, 2014 with a statewide average price of $11.33 and moved higher through the first half of that year before beginning a general decline (Figure 1A). Highest daily average for the market was $12.71 observed on May 22, 2014. Lowest daily average was $8.74 on August 26, 2015. Overall statewide average across all reporting individual daily market quotes was $10.61 for the season.
The 2015 soybean new crop booking market converted to the cash market on October 1 of the past week. The market had begun the past week with a 12 cent weekend loss to open on Monday at $8.79, 3 cents above the previous week opening. The market posted gains on Tuesday and Wednesday before entering a decline that carried it right back to its Monday statewide average (Figure 2). Price ended the week at $8.79, a 12 cent decline from the previous week close. High daily individual market price of the week was $9.17 reported by Helena on Wednesday. The low market quote for the week occurred on Friday with both Des Arc and Wynne at $8.54. Fourteen state markets continue to provide price quotations. End-of-the-week quotes saw closing day prices ranging from the $8.54 low at both Wynne and Des Arc to a high of $9.06 at Helena. The only other individual market above the $9.00 level was Old Town/Elaine at $9.04. The ending quotes represented a range of 52 cents, an expansion of 2 cents 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.)