By Bob Stark, Agricultural Economist
A 1 cent weekend gain for the Arkansas 2015 soybean crop cash market did not generate a strong trend at any time over the entire week. The Monday opening day average was unchanged at $8.67 from the opening price on the previous Monday. Price then never moved beyond a 7 cent span and closed on Friday at $8.65, a 1 cent decline from the previous Friday mark (Figure 1). High daily individual market price of the past trading week was $8.96 reported by Helena on Tuesday. Low market quote for the week was found at Wynne with the market at $8.35 on both Wednesday and Friday. Pine Bluff was the only state market that did not submit a quote throughout the week. End-of-the-week quotes saw closing day prices ranging from the $8.35 low at Wynne to a high of $8.90 at Helena. The ending quotes represented a range of 55 cents, unchanged from the previous trading week Friday quotes.
The past week saw the initiation of 2016 New Crop Booking Soybean Market quotes. Bookings opened on Monday at a statewide average of $8.67 and traded within a narrow 5 cent range throughout the entire week. The market peaked on Tuesday at $8.69 and fell to its low on Wednesday with a statewide average of $8.64. The Friday closing average of $8.66 exactly matched the 2015 Cash Market closing price (Figure 2). High individual market quote for the week was $8.87 at Helena on Tuesday. The low individual quote of $8.47 was found at Des Arc on Wednesday. End-of-week individual market quotes ranged from a low of $8.49 at Des Arc to a high of $8.84 at Helena. These ending quotes indicated a closing spread of 35 cents across all reporting markets in the state.
(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.)