By Bob Stark, Agricultural Economist
Most of a 14 cent weekend loss in the New Crop Soybean Cash Market was gradually recovered over the past trading week such that the market closed on Friday with just a 2 cent overall loss (Figure 1). Trading opened Monday by posting a statewide average of $9.65. Price rose on three of the remaining trading days, reaching a Friday closing mark of $9.77. The close represented only a 2 cent loss from the previous week closing level. Twelve markets provided daily quotes each day of the past week. High daily individual market price was $10.00 observed on Friday at Helena. The low quote for the week was $9.47 at both Des Arc and Jonesboro on Monday. End-of-the-week reported quotes saw the Friday closing day prices ranging from a $9.57 low at Des Arc and Jonesboro to the high of $10.00 at Helena, the only individual market with a price at or above $10.00 during the whole week. These ending quotes represented a range of 43 cents, unchanged compared to the previous week closing spread.
The past trading week for 2017 New Crop Soybean Cash Market Booking quotes began with a 12 cent weekend loss that placed the Monday statewide average at $9.70. Price rose three of the following four trading days and closed on Friday at a statewide average of $9.81 (Figure 2). The movement represented an 11 cent improvement from Monday to Friday and an overall loss of 1 cent from the previous week closing price. High daily individual market price of the past week was seen on both Thursday and Friday with $10.03 reported at Helena. Ten individual markets provided daily quotes on the last trading day of the past week as Wynne rejoined the reporting markets on that day. Low quote for the week was $9.51 at Jonesboro on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.63 low at Jonesboro to the high of $10.03 at Helena. The ending quotes represented a range of 40 cents, unchanged from 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.)