By Bob Stark, Agricultural Economist
The Arkansas 2015 soybean crop cash market suffered a loss for the third straight week. A 15 cent loss was the size this past week and put the Monday opening price at $10.39. The market remained virtually unchanged on Tuesday before enjoying a 31 cent gain on Wednesday. Price retreated 5 cents on Thursday before gaining 6 cents on Friday to close at $10.70, an overall 16 cent gain from the previous Friday closing mark (Figure 1). High daily individual market price of the past week occurred again on Friday with Osceola at $10.90. Low quote for the week was $10.10 on Tuesday at Wynne. End-of-the-week quotes saw most markets remaining in the upper portion of the $10.00 level with closing day prices ranging from a $10.42 low at Wynne to the $10.90 high at Osceola. The ending quotes represented a range of 48 cents, a 4 cent widening from the previous week. Twelve markets continue providing old crop quotes.
The gap of the 2016 New Crop Soybean Cash Market Booking price under old crop beans widened over the past trading week moving from 9 cents to 15 cents. New beans lost 12 cents over the weekend and opened on Monday at $10.33. A 6 cent loss on Tuesday was more than recovered on Wednesday as price surged upward 26 cents. A 4 cent decline on Thursday and 6 cent Friday gain put the closing price at $10.55, a 10 cent improvement over the previous Friday closing mark (Figure 2). High market price of the past week was $10.76 on Friday at Helena. The low individual daily quote and only sub-$10 daily quote occurred on Tuesday with $9.99 at Wynne. Thirteen markets provided daily price quotes throughout the period. End-of-week individual market quotes on Friday ranged from a low of $10.26 at Wynne to the high of $10.76 at Helena. The ending quotes put the closing spread at 50 cents across the reporting markets in the state, a widening of 5 cents from the previous week ending 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.)