By Bob Stark, Agricultural Economist
A 3 cent weekend gain in the Arkansas 2016 Soybean Cash Market was quickly lost over the shortened Memorial Day holiday trading week as price opened on Monday at a $9.43 statewide average and fell to $9.27 by Thursday (Figure 1). The market opening price on Monday was 15 cents under the previous Monday level. The Thursday close at $9.27 represented a 13 cent decline from the previous week closing price. The high daily individual market price of the past week was observed on Monday as Osceola reported a quote of $9.64. Low quote for the week was found on Thursday with an average of $9.07 at Wynne. End-of-the-week reported quotes on Friday showed prices ranging from the $9.07 low at Wynne to a $9.53 high at Osceola. The extreme ending quotes covered a range of 46 cents, unchanged from the previous week closing spread.
The Arkansas 2017 Soybean Cash Market moved similar to the old crop market with a weekend gain followed by a shortened week of declining prices. The market improved 4 cents over the weekend and opened on Monday at a statewide average of $9.46, a 5 cent decline when compared to the previous Monday. New crop beans moved lower each trading day of the short week and closed on Thursday at a statewide average of $9.29, a 13 cent decline from the previous Friday level (Figure 2). High daily individual market price of the short week was $9.62 reported on Monday at both Helena and Osceola. The low quote for the week was $9.11 from both Jonesboro and Des Arc on Thursday. End-of-the-week quotes saw the Thursday closing day prices ranging from the low of $9.11 at both Jonesboro and Des Arc to a high of $9.46 at Osceola. The ending quote extremes represented a range of 35 cents, a 2 cent narrowing 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.)