By Bob Stark, Agricultural Economist
A 4 cent weekend loss in the Arkansas 2016 Soybean Cash Market was quickly offset by a week of generally higher prices before the gains were completely wiped out in Friday trading to end the week. The market opened on Monday at a statewide average of $9.48 and moved higher, ultimately reaching a high of $9.62 on Thursday. The week of gains was lost in a 17 cent Friday decline that left the statewide closing average at $9.45, an overall loss of 7 cents from the previous Friday closing mark (Figure 1). High daily individual market price of the past week was observed on Tuesday as Osceola reached $9.86. Low quote for the week was found on Friday with an average of $9.22 at both Jonesboro and Des Arc. End-of-the-week reported quotes on Friday showed prices ranging from the low of $9.22 at both Jonesboro and Des Arc to a $9.71 high at Osceola. The extreme ending quotes covered a range of 49 cents, unchanged from the previous week closing spread.
The Arkansas 2017 Soybean Cash Market traded in a much narrower and less volatile range than the old crop market. A weekend loss of 2 cents put the market at a Monday opening statewide average of $9.53, unchanged from the previous Monday. New crop beans traded within a 9 cent range throughout the week and closed on Friday at a statewide average of $9.50, a 5 cent decline from the previous Friday level (Figure 2). High daily individual market price of the past week was observed on Tuesday with both Helena and Osceola at $9.77. The low quote for the week was $9.32 and appeared at both Jonesboro and Des Arc on Friday. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $9.32 at both Jonesboro and Des Arc to a high of $9.68 at both Helena and Osceola. The ending quotes represented a range of 36 cents, a 2 cent widening from 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.)