By Bob Stark, Agricultural Economist
The Arkansas 2016 Soybean Cash Market lost 4 cents over the weekend and, despite a midweek recovery, moved generally lower for the week of trading. The market opened on Monday at a statewide average of $10.45, an advantage of 21 cents over the previous Monday opening price. The market fell to $10.37 on Tuesday before recovering 16 cents on Wednesday. Price then moved steadily lower through Friday to end the week at $10.25 (Figure 1). The Friday statewide average placed the market 24 under the prior week’s closing price. High daily individual market price of the past week was observed on Wednesday as Osceola reported $10.74. Helena was just a cent under at $10.73 on the same day. Low quote for the week was found at Wynne with an average of $9.98 on Friday, the only individual daily market quote under $10.00 during the week. End-of-the-week reported quotes left prices ranging from the low of $9.98 at Wynne to a high of $10.45 at Osceola. The ending quotes represented a range of 47 cents, unchanged from the previous week closing spread.
Price movements in 2017 New Crop Soybean Cash Market Booking quotes changed less than the old crop bean market. The new crop market lost 3 cents over the weekend to open on Monday at a statewide average of $10.21. A small loss on Tuesday was more than recovered on Wednesday before the market moved steadily lower to end the week (Figure 2). The new crop market finished the week on Friday at $10.12, an overall loss of 12 cents from the previous week closing price. High daily individual market price of the past week was on Wednesday with $10.46 reported at Helena. Low quote for the week was $9.91 at Jonesboro on Friday. End-of-the-week quotes saw Friday closing day prices ranging from the $9.91 low at Jonesboro to a high of $10.28 at both Helena and Old Town/Elaine. The ending quotes represented a range of 37 cents, 3 cents narrower than 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.)