By Bob Stark, Agricultural Economist
The 2015 soybean crop cash market suffered a 9 cent weekend decline for the second straight week and proceeded to trade in a narrow range through the past week. Market price opened on Monday at $8.82 and showed promise with a 7 cent improvement on Tuesday, but fell 10 cents on Wednesday on the way to a Friday closing average of $8.83, an overall 8 cents decline from the previous Friday close (Figure 2). High daily individual market price of the trading week was $9.11 reported by Helena on Tuesday. Low market quote for the week occurred on Thursday with Wynne at $8.49. Fourteen state markets provided quotes each trading day. End-of-the-week quotes saw closing day prices ranging from an $8.54 low at Wynne to a high of $9.06 at Old Town/Elaine. Only three individual markets ended the week above the $9.00 level: Old Town/Elaine, West Memphis, and Osceola. The ending quotes represented a range of 52 cents, a 12 cent expansion of the range. The current week ending represented an exact reversal of the 12 cent narrowing that had been seen in the previous week of trading for the closing quotes range.
(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.)