By Bob Stark, Agricultural Economist
Arkansas 2015 soybean crop cash market trading had a rough start to the past week as price fell 24 cents over the weekend to open on Monday at a statewide average of $8.90. Price trended lower through most of the week to a Friday closing average of $8.78, a loss of 36 cents from the previous Friday mark (Figure 1). High daily individual market price of the trading week was $9.12 reported by four markets on Monday: Blytheville, Helena, Old Town/Elaine, and Osceola. Low market quote for the week was found at Wynne with the market at $8.48 on Friday. Pine Bluff was the only state market failing to submit quotes during the past week. End-of-the-week quotes saw closing day prices ranging from the $8.48 low at Wynne to a high of $9.01 at Blytheville and Helena. These two markets were the only ones ending the week at or above $9.00. The ending quotes represented a range of 53 cents, unchanged from the previous trading week ending range.
The 2016 New Crop Soybean Cash Market Booking price continued to mirror the cash market movement pattern. Bookings opened on Monday at a statewide average of $8.89, a 23 cent decline over the weekend. The market traded slightly weaker through the week with no more than a 7 cent change between days until falling 9 cents to a Friday closing level of $8.77, a 35 cent loss from the previous Friday closing mark (Figure 2). High market price of the week was reported on Thursday as Helena provided a $9.04 quote. This local market quote was suspicious, being up 8 cents on Wednesday and falling back down 14 cents to $8.90 on Friday. The next highest individual market quote was $9.01 on Monday at both Helena and Old Town/Elaine. The individual market daily low of the week occurred on Friday with Des Arc at $8.60. End-of-week individual market quotes ranged from the $8.60 low at Des Arc to a high of $8.90 at Helena, West Memphis, and Old Town/Elaine. These ending quotes left the closing spread at 30 cents across all reporting markets in the state, unchanged from the previous Friday 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.)