By Bob Stark, Agricultural Economist
A 13 cent weekend gain in the old crop (2015) Arkansas soybean market was wiped away during the past week as price fell each trading day. The market opened on Monday at $10.61, a full 10 cents above the previous Monday, but closed on Friday at a statewide average of $10.19, an overall 29 cent decline for the week (Figure 1). The old crop market remains very thin with only three reporting locations across the entire state. High daily individual market price of the past trading week was seen on Monday with Helena at $10.68. Low quote for the week was $10.12 at Old Town/Elaine on Friday. End-of-the-week quotes saw Friday closing day prices ranging from the $10.12 low at Old Town/Elaine to a high of $10.28 at Helena. The ending quotes represented a range of 16 cents, a 9 cent widening from the previous week closing spread.
The 2016 New Crop Soybean Cash Market Booking price rose 12 cents over the weekend, but then experienced losses each trading day of the past week. Price opened on Monday at a statewide average of $10.27, an 11 cent improvement from the previous Monday and seemed to have solidified the above $10.00 prices of the previous week. But price then proceeded to fall each trading day to a closing Friday average of $9.79 as the market dipped under $10.00 once more (Figure 2). High market price of the past week was reported on Monday with Helena at $10.54. Individual market daily low of the week occurred on Friday as Wynne fell to $9.47. The end-of-week individual market quotes on Friday ranged from the $9.47 low at Wynne to a high of $10.02 at Helena and West Memphis, the only markets remaining above $10.00. These ending quotes put the closing spread at 55 cents across the reporting markets in the state, 2 cents narrower 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.)