By Bob Stark, Agricultural Economist
Any enthusiasm from a 3 cent price improvement over the weekend trading break was quickly dashed for the Arkansas 2015 soybean crop cash market as price went through a free-fall that extended throughout the trading week. The market opened on Monday with a statewide average price of $8.84. Each trading day quote represented a 2 to 12 cent loss as the market fell to a Friday closing statewide average of $8.53, an overall loss of 28 cents from the previous Friday closing mark (Figure 1). High daily individual market price of the past trading week was reported on Monday with Helena at $9.03. Low market quote for the week was found at Augusta with a market quote of $8.32 on Friday. End-of-the-week quotes saw closing day prices ranging from the $8.32 low at Augusta to an $8.70 high at Helena. The ending quotes represented a range of 38 cents as the market range continued to narrow, this time 5 cents from the previous week closing spread.
The 2016 New Crop Soybean Cash Market Booking price matched the 3 cent weekend gain of the old crop market and opened the past week at a Monday statewide average of $8.81. But price quickly entered a daily downward slide as it fell four of five trading days. The lone day of gain was Wednesday as the market climbed one cent. The daily quotes represented losses of 7 to 10 cents. Price finally went steady on Friday with a closing statewide average of $8.65. That closing price left the market with an overall 13 cent loss from the previous Friday close (Figure 2). High market price of the past week was reported on Monday with Helena at $9.02. That Helena market quote was the only individual market daily quote of the entire week to meet or exceed $9.00. Individual market daily low of the week was reported on Friday with Augusta at $8.36. Pine Bluff did not provide a Friday quote. End-of-week individual market quotes on Friday ranged from the low of $8.36 at Augusta to a high of $8.83 at Helena. The ending quotes put the closing spread at 47 cents across all reporting markets in the state, 3 cents narrower than the previous week closing 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.)