By Bob Stark, Agricultural Economist
The Arkansas 2015 soybean crop cash market enjoyed a 13 cent gain over the weekend, showed continued strength into midweek trading, and firmly held onto the gains to end the week. The market opened on Monday at $9.90 and posted gains almost every day enroute to the Friday closing mark of $10.12, an overall gain of 35 cents from the previous Friday closing mark (Figure 1). High daily individual market price of the past trading week occurred on Wednesday with Helena at $10.28. Low quote for the week was $9.72 on Monday at Wynne. End-of-the-week quotes saw closing day prices ranging from a $9.93 low at Wynne to a $10.27 high at West Memphis. The ending quotes represented a range of 34 cents, a 4 cent narrowing that exactly reversed the previous week gain. Eleven markets continue to provide old crop price quotes.
The 2016 New Crop Soybean Cash Market Booking price enjoyed a 15 cent weekend gain that retreated slightly midweek before stabilizing to finish the week. The market opened on Monday at a $9.91 statewide average. Price climbed to $10.03 on Tuesday before retreating 5 cents and then resurging to $10.04 to close the week, a 28 cent gain from the previous Friday closing mark (Figure 2). High market price of the past week was $10.21 on Thursday at Helena. The low individual daily quote occurred on Monday with $9.68 at Wynne. Thirteen markets are reporting new crop quotes. End-of-week individual market quotes on Friday ranged from a low of $9.78 at Wynne to a high of $10.20 at Helena. These ending quotes put the closing spread at 42 cents across the reporting markets in the state, an expansion of 5 cents from the previous week 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.)