By Bob Stark, Agricultural Economist
A 10 cent weekend loss in the Arkansas 2016 Soybean Cash Market was an indication of the coming weekly trend as price moved slightly lower for most of the week, reaching a statewide average of $10.37 on Friday to end the week. The Friday statewide average placed the market 18 cents under the prior week’s closing price (Figure 1). Twelve markets continue to provide cash market quotes on the 2016 crop. High daily individual market price of the past week was observed on Tuesday as Helena and Osceola both reported $10.60. Low quote for the week was found at Wynne with an average of $10.14 on Friday. End-of-the-week reported quotes left prices ranging from the low of $10.14 at Wynne to a high of $10.51 at Helena. The ending quotes represented a range of 37 cents, 1 cent wider than the previous week closing spread.
The 2017 New Crop Soybean Cash Market Booking quotes also had a generally flat week. The market lost 3 cents over the weekend break and traded within a narrow 3 cent range for the entire week. The Monday statewide average was $10.18 and the Friday closing average was $10.19 (Figure 2). Overall trading for the week resulted in a 2 cent loss from the previous week closing price. High daily individual market price of the past week was on Tuesday with $10.36 reported at Helena. Low quote for the week was $9.96 at Jonesboro on Thursday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.98 low at Jonesboro to a high of $10.35 at Helena. All state markets except Jonesboro remained above the $10.00 mark to end the week. The Jonesboro market fell below $10.00 on Monday and could never regain that level. The ending quotes represented a range of 37 cents, unchanged from the previous week closing range. Only twelve markets were reporting 2017 Cash Market Booking prices on Friday as the Pine Bluff market failed to provide a Friday quote.
(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.)