By Bob Stark, Agricultural Economist
The past week of trading in the 2016 Crop Soybean Cash Market stumbled a bit over the weekend with a 6 cent loss. Price steadied through the early part of the week and closed with solid gains on both Thursday and Friday. The market opened on the past Monday at $10.14 and stayed within a 4 cent range through Wednesday. Gains of 7 and 10 cents, respectively, on the last two trading days of the week put the market at a closing average statewide of $10.28, an overall 8 cent improvement from the previous week close (Figure 1). Thirteen markets are currently providing cash market quotes on the 2016 crop. High daily individual market price of the week was observed on Friday with $10.54 at both Blytheville and Osceola. Low quote for the week was $9.83 at Pine Bluff on Wednesday. End-of-the-week reported quotes saw all reporting markets in the state above the $10.00 level with exception of Pine Bluff. The Friday closing day prices ranged from a low of $9.96 at Pine Bluff to the high of $10.54 at Blytheville and Osceola. The ending quotes represented a range of 58 cents, 12 cents wider than the previous week closing spread.
The 2017 New Crop Soybean Cash Market Booking quotes lost 2 cents over the weekend before stabilizing and remaining generally steady throughout the week. Price traded within an overall 6 cent range. The Friday closing statewide average was $10.08, a 5 cent decline from the previous Friday closing price (Figure 2). High daily individual market price of the past week was on Monday with $10.31 reported at Helena. Low quote for the week was $9.89 at Jonesboro on both Wednesday and Thursday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.93 low at Jonesboro to a high of $10.29 at Helena. The ending quotes represented a range of 36 cents, 2 cents wider than the previous week closing range. Eleven markets remained actively reporting 2017 Cash Market Booking prices.
(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.)