By Bob Stark, Agricultural Economist
The past week of trading was shortened by the Friday Veterans Day holiday. Trading began the week with an 11 cent gain over the weekend that launched the market to a Monday statewide average of $9.75, 10 cents under the previous Monday average. Price moved up and down within a 16 cent range through the week to a Thursday closing mark of $9.79. The close represented a 15 cent gain from the previous week closing level (Figure 1). Thirteen markets were providing daily quotes at the end of the past week. High daily individual market price was $10.19 observed on Tuesday at Helena. The low quote for the week was $9.54 at both Des Arc and Jonesboro on Wednesday. End-of-the-week reported quotes saw the Thursday closing day prices ranging from a $9.61 low at Des Arc and Jonesboro to a high of $10.04 at Helena, the only market with a Thursday price over $10.00. These ending quotes represented a range of 43 cents, a 9 cent widening compared to the previous week closing spread.
The past trading week for 2017 New Crop Soybean Cash Market Booking quotes featured a 5 cent weekend gain to place the Monday statewide average at $9.76 followed by a generally steady movement pattern. The market closed on Thursday in observance of the Veterans Day holiday. The Thursday statewide average was $9.82 for an in-week gain of 6 cents and an improvement of 11 cents from the previous week closing price (Figure 2). High daily individual market price of the past week was on Thursday with $10.04 reported at Helena. Ten individual markets provided daily quotes during the past week. Low quote for the week was $9.56 at Jonesboro on Wednesday. End-of-the-week quotes saw Thursday closing day prices ranging from a $9.64 low at Jonesboro to the high of $10.04 at Helena. The ending quotes represented a range of 40 cents, 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.)