By Bob Stark, Agricultural Economist
Arkansas 2015 soybean crop cash market trading gained 3 cents over the weekend and started the past week on Monday at a statewide average of $8.81, 9 cents under the previous Monday average. Price trended lower through the first part of the week to a Wednesday low of $8.71 before recovering quickly to close on Friday at an average of $8.99, a gain of 21 cents from the previous Friday mark (Figure 1). High daily individual market price of the trading week was $9.22 reported on Friday by Helena and Old Town/Elaine. Low market quote for the week was found at Wynne with the market at $8.40 on Wednesday. Reporting was somewhat irregular with Blytheville dropping out on Thursday and Friday and Pine Bluff entering the reporting on Wednesday and continuing through the remaining days of trade. End-of-the-week quotes saw closing day prices ranging from an $8.69 low at Wynne to the high of $9.22 at Old Town/Elaine and Helena. Six markets ended the week at or above $9.00. The ending quotes represented a range of 53 cents, unchanged from the previous two trading week closes.
The 2016 New Crop Soybean Cash Market Booking price traveled approximately 3 cents under the old crop cash market movement pattern. Bookings opened on Monday at a statewide average of $8.78, a single cent improvement over the weekend but 11 cents under the previous Monday opening price. The market traded weaker through Wednesday to a low mark of $8.67. Price then turned sharply higher to a Friday closing level of $8.95, an 18 cent gain from the previous Friday closing mark (Figure 2). High market price of the week was reported on Friday with Helena at $9.12, one of four markets ending the week above $9.00. The individual market daily low of the week occurred on Wednesday with Des Arc at $8.49. End-of-week individual market quotes ranged from a low of $8.77 at Des Arc to the high of $9.12 at Helena. These ending quotes put the closing spread at 35 cents across all reporting markets in the state, a 5 cent expansion from the previous Friday range. Eleven markets provided new crop booking quotes to end the week with the Wynne, Blytheville, and Augusta markets absent.
(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.)