By Bob Stark, Agricultural Economist
The 2015 soybean new crop booking market converted to the cash market last week on October 1, so the past week represents the first full week of 2015 crop cash market prices. The market enjoyed a 9 cent weekend gain and opened on Monday at $8.88, exactly equal to the previous week opening. The market posted modest gains on Tuesday and Wednesday before suffering a 10 cent Thursday decline that a Friday recovery could not fully overcome (Figure 1). Price ended the week at $8.91, a 12 cent improvement from the previous week close. Ironically, the previous week had closed 12 cents lower than its prior Friday average. High daily individual market price of the week was $9.23 reported by Helena on Wednesday. The low market quote for the week occurred on Thursday as both Des Arc and Wynne reported $8.61 quotes. Fourteen state markets generally continued to provide price quotations. The exception was the absence of Blytheville quotes on Wednesday and Thursday before resuming on Friday. End-of-the-week quotes saw closing day prices ranging from an $8.66 low at both Wynne and Des Arc to a high of $9.14 at Helena. Five individual markets ended the week above the $9.00 level. The ending quotes represented a range of 48 cents, a narrowing of 4 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.)