By Bob Stark, Agricultural Economist
A 9 cent weekend decline sent the 2015 soybean crop cash market into a general weakening that extended through the past week. Market price opened on Monday at $8.98 and uneasily held steady into Wednesday before declining daily to a Friday closing average of $8.91 (Figure 2). The closing price represented an overall 16 cent fall from the previous week close. High daily individual market price of the trading week was $9.24 reported by Osceola on Monday. Helena followed closely at $9.23 on the same day. Low market quote for the week occurred on Tuesday with Augusta at $8.61. Tuesday was an uncertain day with USDA-NASS subsequently correcting two individual market quotes on Wednesday. Fourteen state markets provided quotes each trading day. End-of-the-week quotes saw closing day prices ranging from an $8.66 low at Wynne and Augusta to a high of $9.06 at Helena, Old Town/Elaine, and Pine Bluff. Only five individual markets ended the week above the $9.00 level. The ending quotes represented a range of 40 cents, a substantial narrowing of 12 cents from the closing quotes range in the previous week of trading.
(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.)