By Bob Stark, Agricultural Economist
The first full July week of trading began well enough with a 6 cent weekend gain that put the Monday opening price at $11.05 followed by two days of increases that carried market price to a weekly high of $11.32. But the Arkansas 2015 soybean crop cash market fell sharply over the final two days of trading to a Friday closing price of $10.89, an overall 10 cent decline from the previous Friday closing price (Figure 1). High daily individual market price of the short trading week was seen on Wednesday with Helena at $11.63. Low quote for the week was $10.34 at Wynne on Friday. End-of-the-week quotes saw Friday closing day prices ranging from the $10.34 low at Wynne to a high of $11.16 at Helena. The ending quotes represented a range of 82 cents, a 4 cent widening from the previous week closing spread.
The 2016 New Crop Soybean Cash Market Booking price was more volatile than the old crop market during the past trading week. Price fell 3 cents over the weekend and opened the past week at a Monday statewide average of $10.58. Price gained a total of 50 cents over the next two days to a weekly high of $11.08 before falling sharply on Thursday and continuing lower to a Friday closing average of $10.60, 1 cent under the previous Friday closing price (Figure 2). High market price of the past week was reported on Wednesday with Helena at $11.31. Individual market daily low of the week was reported on Monday with Wynne at $10.25. End-of-week individual market quotes on Friday ranged from a low of $10.27 at Wynne to a high of $10.85 at Helena. These ending quotes put the closing spread at 58 cents across the reporting markets in the state, 2 cents wider 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.)