The past week of trading in old crop cash soybeans began with great promise as the market gained 17 cents to open with a Monday statewide average of $12.80.
But the market then suffered small but steady losses on each trading day of the week, finishing on Friday with a statewide average of only $12.64, a 1 cent gain from the previous Friday closing price (Figure 1).
High individual daily market quote for the past week was $13.03 on Monday at Blytheville. The low was $12.45 on Friday at West Memphis. Price reports for the week were inconsistent with six markets providing quotes at one time or another, but only two of the six providing quotes on all five days.
Closing quotes on Friday ranged from the $12.45 low at West Memphis to a high of $12.81 at Blytheville. These end-of-week quotes set the market price range at 36 cents, unchanged for the third consecutive week.
Readers should still recognize that limited market quotes make this range measure questionable and market averages subject to distribution flaws.
The 2014 New Crop Soybean Booking market exceeded the old crop market with a 24 cent increase over the weekend. But new crop price followed the path of old crop beans, posting small losses on almost every trading day enroute to a Friday closing statewide average of $10.67, a 23 cent decrease from the previous Friday close (Figure 2).
High individual market quote of the week was $11.33 reported by West Memphis on Monday. The low individual market quote was $10.39 from Des Arc on Friday. All fourteen regular markets provided quotes during the past week. The end-of-week price spread ranged from a high of $10.87 at Blytheville, Helena, and Osceola to the $10.39 low at Des Arc. These quotes left the closing market spread at 48 cents, a 3 cent increase 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.)