By Bob Stark, Agricultural Economist
The past week of trading started uneasily with a 9 cent weekend loss that put the Arkansas 2015 soybean crop cash market opening on Monday at a statewide average of $8.85. Price recovered somewhat on Tuesday before entering a decline through the remaining trading days to a Friday statewide average close of $8.70, and overall loss of 24 cents from the previous Friday closing mark (Figure 1). High daily individual market price of the past trading week was $9.11 reported on Tuesday at both Old Town/Elaine and Osceola. Low market quote for the week was found at Augusta with a market quote of $8.43 on Friday. End-of-the-week quotes saw closing day prices ranging from the $8.43 low at Augusta to an $8.92 high at Helena. The ending quotes represented a range of only 49 cents, seven cents narrower than the previous week.
The 2016 New Crop Soybean Cash Market Booking price fell 3 cents over the weekend and opened the past week at a Monday statewide average of $8.79, a penny higher than the previous Monday. The market posted a 7 cent gain on Tuesday before entering a daily downward slide that continued to the Friday closing price of $8.71, an 11 cent decline from the previous Friday close (Figure 2). High market price of the past week was reported on Tuesday with Helena at $9.04. Individual market daily low of the week occurred on Friday as Augusta fell to an $8.38 average. End-of-week individual market quotes on Friday ranged from the low of $8.38 at Augusta to a high of $8.90 at Helena. These ending quotes put the closing spread at 52 cents across all reporting markets in the state, 2 cents wider than the previous week closing range. All fourteen regular soybean markets provided new crop booking quotes as of the end of 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.)