By Bob Stark, Agricultural Economist
The Arkansas 2015 soybean crop cash market had an extended weekend due to the Martin Luther King holiday on the past Monday. The extra day off allowed a 5 cent improvement over the weekend and the market opened on Tuesday at a statewide average of $8.92. Price fell sharply by 10 cents on Wednesday before stabilizing through the remainder of the week. The closing statewide average on Friday was $8.86, an overall loss from the previous Friday closing mark of only 1 cent (Figure 1). High daily individual market price of the past trading week was $9.19 reported on Tuesday at West Memphis, Helena, and Osceola. Low market quote for the week was found at Wynne with the market at $8.54 on Wednesday. Only 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 $8.57 low at Wynne to a $9.17 high at Helena. The ending quotes represented a range of 60 cents, two cents wider than the previous week.
The 2016 New Crop Soybean Cash Market Booking price continued to be less volatile than the old crop cash market. Bookings gained 3 cents over the extended MLK holiday weekend and opened the past week at a Tuesday statewide average of $8.76, 15 cents over the previous Monday average. The market weakened somewhat on Wednesday, but traded within a 6 cents range throughout the shortened week before closing on Friday at a closing price of $8.72, a 1 cent decline from the previous Friday close (Figure 2). High market price of the past week was reported on Thursday with Helena at $8.97. The individual market daily low of the week occurred on Thursday as Augusta reported an $8.37 average. End-of-week individual market quotes on Friday ranged from a low of $8.39 at Augusta to a high of $8.94 at Helena. These ending quotes put the closing spread at 55 cents across all reporting markets in the state, 5 cents wider than 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.)