By Bob Stark, Agricultural Economist
The Arkansas 2016 Soybean Cash Market held steady over the weekend to open the past week of trading. The market opened on Monday at a statewide average of $9.24, an increase of 7 cents from the prior week opening price that broke four straight weeks of opening declines. The market lost another 3 cents on Tuesday before regaining its strength and climbing higher the final two days of trading. The market was closed on Friday for Easter holiday (Figure 1). Price finished the week on Thursday at $9.38, a gain of 14 cents from the previous Friday closing mark. High daily individual market price of the past week was observed on Thursday with Osceola at $9.55. West Memphis was a cent under the high at $9.54 on that day. Low quote for the week was found at Wynne on Tuesday with an average of $8.99, the only individual daily market quote under $9.00 during the past week. End-of-the-week reported quotes on Thursday showed prices ranging from a low of $9.16 at Wynne to the high of $9.55 at Osceola. The extreme ending quotes represented a range of 39 cents, a widening of 3 cents compared to the previous week closing spread.
The Arkansas 2017 Soybean Cash Market declined 1 cent over the past weekend, leveled off, and then gained daily through the shortened trading week. The market opened on Monday at a statewide average of $9.34, one cent above the prior Friday closing average. Price then climbed to close on Thursday at a statewide average of $9.47. The market was closed on Friday for the Easter holiday. The closing price was 14 cents over the previous week closing mark (Figure 1). High daily individual market price of the past week was observed on Thursday with Osceola and Helena both at $9.62. Low quote for the week was found on Tuesday at Jonesboro, Pine Bluff, and Des Arc with each having an average of $9.21. End-of-the-week quotes saw Thursday closing day prices ranging from a low of $9.34 at Jonesboro, Pine Bluff, and Des Arc to the high of $9.62 at Helena and Osceola. The ending quotes represented a range of 28 cents, 5 cents wider 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.)