By Bob Stark, Agricultural Economist
A steady weekend market put the Arkansas 2015 soybean crop cash market on track for a rather uneventful week of trading. The market opened on Monday at a statewide average price of $8.94, unchanged from the previous Friday closing average. Price traded within a six cent range throughout the week before closing on Friday at a statewide average of $8.96, an overall gain of only 2 cents from the previous Friday closing mark (Figure 1). High daily individual market price of the past trading week was reported on Friday with Helena reaching $9.14. Low market quote for the week was $8.64 at Wynne on Tuesday. End-of-the-week quotes saw closing day prices ranging from an $8.70 low at Wynne to the $9.14 high at Helena. The ending quotes represented a range of 44 cents as the market range widened for the second consecutive week by 2 cents from its previous week closing spread.
The 2016 New Crop Soybean Cash Market Booking price posted a 2 cent gain over the weekend and opened the past week and moved above the $9.00 level with a Monday statewide average of $9.01. Price traded within a 10 cent overall range for the week before closing at $9.06 for the Friday statewide average, a 7 cent improvement from the previous Friday close (Figure 2). High market price of the past week was reported on both Thursday and Friday with Helena at $9.24. Ten of the thirteen reporting markets closed the week above $9.00. Individual market daily low of the week was reported on Tuesday with Augusta at $8.63. The Augusta market ceased providing price quotes after Wednesday. End-of-week individual market quotes on Friday ranged from a low of $8.80 at Wynne to the high of $9.24 at Helena. The ending quotes put the closing spread at 44 cents across the reporting markets in the state, 12 cents narrower than the previous week closing range. Loss of the Augusta market quotes likely contributed to this price narrowing.
(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.)