The 2014 Arkansas Cash Soybean market still seemed uncertain about the USDA crop reports of the previous week. Old crop price for Arkansas is very uncertain since at most three markets are now providing price quotes. The limited number of reporting markets hit on Thursday of the previous week and continued through the immediate past trading week.
The extra-long Fourth of July weekend saw the reporting markets’ average fall 22 cents to a $10.36 Monday statewide average. The market continued sharply lower on Tuesday, falling another 31 cents, before starting a climb that extended through the remaining trading days of the week. Statewide average market price for the three reporting markets was $10.45 on Friday. This average would suggest a 13 cent overall drop from the previous Thursday closing price (Figure 1). High individual daily market quote of the past week was $10.52 at Old Town/Elaine on Friday.
Low daily quote of the week occurred on Tuesday as Little Rock reported a price of an even $10.00. The Friday closing price ranged from $10.40 at Little Rock to the $10.52 weekly high at Old Town/Elaine. A week versus week closing range comparison could not be made since only one market had provided a price quote on Thursday, the last trading day of the previous week.
The 2015 soybean crop booking market had a similar price movement patter to the old crop market, but with a smaller degree of change. The market suffered a 17 cent loss over the weekend to open trading on Monday at $9.97. New crop market price continued lower on both Tuesday and Wednesday before reversing course with two days of equally amazing gains.
The new crop market ended the week at a statewide average of $10.01, a 13 cent decline from the previous week close (Figure 2). High individual market quote for the week was $10.32 at Helena on Friday. Low market quote for the week occurred on Wednesday with Augusta at $9.50. All of the fourteen regular state markets continued to provide new crop quotes. End-of-the-week quotes saw half of the markets below the $10.00 level.
Closing day prices ranged from a $9.77 low at Augusta to the weekly high of $10.32 at Helena. The ending quotes represent a range of 55 cents, an expansion of 2 cents from the closing quotes range of the previous week.
(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.)