By Bob Stark, Agricultural Economist
This week for the Arkansas 2015 soybean crop cash market covered only three days of trading due to the Thursday and Friday Thanksgiving holiday. The market gained 6 cents over the weekend, held its gain on Tuesday, and moved sharply higher to close trading on Wednesday. The Monday opening day average was $8.71, up 4 cents from the opening price on the previous Monday. Price remained essentially unchanged the next trading day before posting an 11 cent Wednesday gain to close the pre-holiday trade at $8.82, up 17 cents from the previous Friday mark (Figure 1). High daily individual market price of the short trading week was $9.07 reported by Helena on Wednesday. Low market quote for the week was found at Wynne with the market at $8.41 on both Monday and Tuesday. 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 an $8.52 low at Wynne to the high of $9.07 at Helena. The ending quotes represented a range of 55 cents, unchanged for the second straight week from the previous trading week Friday quotes.
The short trading week saw the 2016 New Crop Booking Soybean Market closely follow the cash market movement pattern. Bookings opened on Monday at a statewide average of $8.73, a full 6 cents higher than the previous Monday, and actually lost 2 cents on Tuesday before finishing strongly with an 11 cent Wednesday gain. High market price of the short week was seen on Wednesday with Helena at $8.99. The individual market daily low of the week occurred on Tuesday with Des Arc at $8.54. The Wednesday closing average of $8.82 again exactly matched the 2015 Cash Market closing price (Figure 2). End-of-week individual market quotes ranged from a low of $8.64 at Des Arc to the high of $8.99 at Helena. These ending quotes represented a closing spread of 35 cents across all reporting markets in the state for the second straight 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.)