By Bob Stark, Agricultural Economist
The Arkansas 2016 Soybean Cash Market lost 6 cents over the extended Presidents’ Day weekend and moved generally lower through the remainder of the shortened trading week. The market opened on Tuesday at a statewide average of $10.19, a decline of 26 cents from the previous Monday opening price. The market fell 4 cents and 12 cents on the following respective days before regaining 2 cents and closing on Friday at $10.05, a 20 cent decline from the previous Friday closing price (Figure 1). High daily individual market price of the past week was observed on Tuesday as Osceola reported $10.38. Low quote for the week was found at Wynne with an average of $9.77 on Thursday. End-of-the-week reported quotes left prices ranging from a low of $9.79 at Wynne to a high of $10.23 at Blytheville. The ending quotes represented a range of 44 cents, a narrowing of 3 cents compared to the previous week closing spread.
Price movements in 2017 New Crop Soybean Cash Market Booking quotes changed in a similar manner, but less dramatically than the old crop bean market. The new crop market lost 3 cents over the extended holiday weekend and opened on Tuesday at a statewide average of $10.09, 12 cents under the previous Monday opening price. The market held basically steady on Wednesday before falling 10 cents on Thursday and rebounding 2 cents to close the week at $10.00, a decline of 2 cents from the previous Friday price (Figure 2). High daily individual market price of the past week was on Tuesday with $10.26 reported at Helena. Low quote for the week was $9.82 at Jonesboro on Thursday. End-of-the-week quotes saw Friday closing day prices ranging from a low of $9.84 low at Jonesboro to a high of $10.17 at Old Town/Elaine. The ending quotes represented a range of 33 cents, 4 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.)