By Bob Stark, Agricultural Economist
A 17 cent weekend gain in the old crop (2015) Arkansas soybean market was totally lost and more on Tuesday in a 30 cent decline. The market remained essentially steady until Friday when price rose 17 cents to a closing statewide average of $10.15 (Figure 1). The closing price left the market exactly unchanged from the previous week close on Thursday. The market got even thinner with only three reporting locations for the last four days of trading. High daily individual market price of the past trading week was seen on Monday with Helena at $10.66. Low quote for the week was $9.79 at West Memphis on Tuesday. End-of-the-week quotes saw Friday closing day prices ranging from a $10.03 low at West Memphis to a high of $10.25 at Old Town/Elaine. The ending quotes represented a range of only 22 cents versus the 81 cent gap from the previous week closing spread. The difference came primarily from the absence of the Wynne market that ceased providing daily quotes and normally has the lowest prices in the state.
The 2016 New Crop Soybean Cash Market Booking price suffered a 15 cent weekend decline, but moved somewhat differently from the old crop market. Price opened the past week at a Monday statewide average of $9.67, and declined 9 cents on Tuesday to a weekly low before posting gains for the rest of the week. The market closed on Friday at $9.80, just 2 cents under the previous week closing price (Figure 2). High market price of the past week was reported on Friday with Helena at $10.08. Individual market daily low of the week occurred on Wednesday with Jonesboro at $9.05. The end-of-week individual market quotes on Friday ranged from a $9.55 low at both Wynne and Des Arc to a high of $10.08 at Helena. These ending quotes put the closing spread at 53 cents across the reporting markets in the state, 4 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.)