The old crop cash soybean market fell 35 cents over the previous weekend break to a Monday, June 30, statewide average of $13.92. Market price seemed to have stabilized on Tuesday, but then moved sharply lower on both Wednesday and Thursday.
The market ended the shortened trading week on Thursday for 4th of July holiday with a closing statewide average of $13.54, a 73 cent loss from the previous Friday closing mark (Figure 1). Reporting was very uncertain through the week as the number of markets providing quotes fell from nine on Monday and Tuesday to only four on Wednesday and Thursday.
Indicative of this uncertainty was that the high individual market daily quote and low quote for the past week both occurred at West Memphis. The high was $14.21 on Monday and the low was $13.09 on Thursday.
Closing quotes on Thursday across the four reporting markets ranged from the $13.09 low at West Memphis to a $13.76 high at Wynne. These end-of-week quotes left the market price range at 57 cents, 10 cents wider than the previous week.
The lack of market quotes makes the range change questionable.
The 2014 New Crop Soybean Booking market suffered a far bleaker weekend than the old crop market prior to this week of trading. Price fell 71 cents to an $11.59 statewide average on Monday.
New crop beans moved steadily lower throughout the holiday-shortened week and closed with a statewide average of $11.35 on Thursday, a 95 cent overall loss from the previous Friday average (Figure 2). High individual market quote of the week was $11.72 at West Memphis, Helena, and Old Town/Elaine on Monday, the first weekly high under $12.00 since the end of February. The low individual market quote for the fourth consecutive week was at Augusta with only $11.10 on Thursday.
All fourteen regular markets continued to provide quotes during the past week. The end-of-week price spread ranged from a high of $11.49 at West Memphis, Old Town/Elaine, and Helena to the $11.10 low at Augusta. These quotes left the closing market spread at 39 cents, unchanged from the immediately previous week closing price 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.)
