By Bob Stark, Agricultural Economist
The Arkansas 2015 soybean crop cash market slipped 4 cents over the past weekend before regaining traction to post a solid gain for the trading week. The market opened on Monday at a statewide average of $8.69 and posted higher quotes through Thursday before declining slightly on Friday. The closing statewide average on Friday was $8.87, a 15 cent gain from the previous Friday closing mark (Figure 1). High daily individual market price of the past trading week was $9.22 reported on Thursday at West Memphis with Osceola following closely at $9.21. Low market quote for the week was found at Wynne with the market at $8.41 on Monday. Blytheville continued missing from old crop cash quotes among the fourteen state markets. End-of-the-week quotes saw closing day prices ranging from an $8.59 low at Wynne to a $9.17 high at West Memphis. The ending quotes represented a range of 58 cents, three cents wider than the previous week.
The 2016 New Crop Soybean Cash Market Booking price continued to move in a flatter manner than the old crop cash market level. Bookings lost 5 cents over the weekend and then opened the past week at a Monday statewide average of $8.61, two cents less than the previous Monday average. The market posted moderate gains throughout the week before retreating on Friday to a closing price of $8.73, a 7 cent improvement over the previous Friday close (Figure 2). High market price of the past week was reported on Thursday with both Old Town/Elaine and Helena at $8.95. The individual market daily low of the week occurred on Monday as Augusta reported an $8.29 average. End-of-week individual market quotes on Friday ranged from a low of $8.40 at Augusta to a high of $8.90 at both Old Town/Elaine and Helena. These ending quotes put the closing spread at 50 cents across all reporting markets in the state, unchanged from the previous week closing range. Twelve markets currently are providing new crop booking quotes as Pine Bluff resumed quotes during the past 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.)