By Bob Stark, Agricultural Economist
A week of decline characterized the 2016 Crop Soybean Cash Market as price lost 16 cents over the weekend and continued generally lower throughout the shortened trading week. The market opened on the past Monday at a statewide average of $10.12. Price fell 16 cents on Tuesday, gained back 2 cents on Wednesday, and lost another 12 cents on Thursday to close out the pre-Christmas trading. The $9.86 closing statewide average left the market 42 cents under the previous week close (Figure 1). Thirteen markets are currently providing cash market quotes on the 2016 crop with only Augusta absent. High daily individual market price of the week was observed on Monday with $10.39 reported at Osceola. Low quote for the week was $9.54 at Pine Bluff on Thursday. End-of-the-week reported quotes saw only five of the thirteen reporting markets in the state above the $10.00 level. The Friday closing day prices ranged from the low of $9.54 at Pine Bluff to a high of $10.14 at Helena. The ending quotes represented a range of 60 cents, 2 cents wider than the previous week closing spread.
The 2017 New Crop Soybean Cash Market Booking quotes lost 8 cents over the weekend and trended generally downward through the remaining trading days of the week. The Monday statewide average was an even $10.00. Double figure losses on two of the three last days placed the Thursday closing statewide average at $9.76, a 32 cent decline from the previous Friday closing price (Figure 2). High daily individual market price of the past week was on Monday with $10.21 reported at Helena. Low quote for the week was $9.61 at Jonesboro on Thursday. End-of-the-week quotes saw Friday closing day prices ranging from the $9.61 low at Jonesboro to a high of $9.98 at Helena. Thursday was the first day without a single market over $10.00 since November 16. The ending quotes represented a range of 37 cents, 1 cent 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.)