By Bob Stark, Agricultural Economist
A robust 27 cent weekend gain provided the 2016 Arkansas soybean cash market with price strength that extended throughout the past short week of trading prior to the Thanksgiving holiday. The market opened on Monday at a $10.04 statewide average, 39 cents above the previous week opening. Gains of 8 and 5 cents followed to a Wednesday closing statewide average of $10.17, an overall gain of 40 cents from the previous weekly close (Figure 1). Twelve markets provided daily cash quotes each day of the past week with only Augusta and Pine Bluff absent. High daily individual market price was $10.39 observed on Wednesday at Old Town/Elaine. The low quote for the week was $9.83 at both Des Arc and Jonesboro on Monday. End-of-the-week reported quotes saw the Wednesday closing day prices ranging from a $9.97 low at both Des Arc and Jonesboro to the high of $10.39 at Old Town/Elaine. These ending quotes represented a range of 42 cents, 1 cent narrower compared to the previous week closing spread.
The past trading week for 2017 New Crop Soybean Cash Market Booking quotes began with a 17 cent weekend gain that placed the Monday statewide average at $9.98. Price moved above $10.00 on the following day and held mostly steady on Wednesday to end the holiday-shortened trading week at $10.04, an improvement of 23 cents over the previous week closing price (Figure 2). High daily individual market price of the past short week was seen on Wednesday with $10.27 reported at Helena. Eleven individual markets ended the week providing daily quotes as Pine Bluff resumed reporting. Low quote for the week was $9.80 at Jonesboro on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.87 low at Jonesboro to the high of $10.27 at Helena. The ending quotes represented a range of 40 cents, unchanged from the closing range of the previous two weeks.
(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