The shortened Thanksgiving week of trading for the 2014 crop AR cash soybean market began with a 4 cent weekend loss, recovered nicely on Tuesday, and then closed with a comfortable weekly gain on Wednesday.
The Monday statewide average was $10.44 and a 17 cent Tuesday gain took the market to its short week high. The strength disappeared slightly on Wednesday as the market retreated to $10.57, but it still represented a 9 cent improvement over the prior Friday closing mark (Figure 1).
High individual daily market quote for the week was $10.93 at West Memphis on Tuesday with Old Town/Elaine at $10.91. Low daily quote for the week occurred on Monday with $10.19 reported at Wynne. No individual markets fell below $10.00 or rose above $11.00 during the short week. The Friday closing price ranged from a low of $10.32 at Wynne to a high of $10.92 at West Memphis.
These end-of-week quotes left the market price range at 60 cents, a 5 cent expansion from the range of the previous two weeks.
The Agricultural Marketing Service began recording its first quotes on the 2015 soybean crop on November 17. This shortened trading week saw the market lose 9 cents over the weekend to a $9.93 statewide average on Monday and then regain its losses and more on Tuesday before settling at a statewide average of $10.05 on Wednesday to end the week. High individual market quote for the week was $10.24 reported at Old Town/Elaine on Wednesday. The low for this week was $9.75 at both Augusta and Des Arc on Monday.
Thirteen markets are providing new crop quotes. End-of-the-week quotes saw market prices ranging from a low of $9.87 at Augusta to a high of $10.22 at Old Town/Elaine. These quotes represented a range of 35 cents, a 5 cent narrowing from the previous Friday closing quotes.
(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.)
