By Bob Stark, Agricultural Economist
The first full week of June trading began with a modest 2 cent gain in the Arkansas 2016 Soybean Cash Market. Trading opened on Monday at a statewide average of $9.07, an improvement of 7 cents over the previous week opening average. Price posted gains each day of the trading week before closing on Friday at a closing average of $9.27, a 22 cent gain that exactly matched the loss of the previous week (Figure 1). High daily individual market price of the past week was observed on Friday with both Old Town/Elaine and Helena at $9.47. Low quote for the week was found at Wynne on Monday with an average of $8.89. End-of-the-week reported quotes on Friday showed prices ranging from a low of $9.09 at Wynne to the high of $9.47 at both Old Town/Elaine and Helena. The extreme ending quotes covered a range of 38 cents, a narrowing of 5 cents compared to the previous week closing spread.
The Arkansas 2017 Soybean Cash Market posted a 2 cent weekend gain over the weekend prior to the past trading week. Trading opened on Monday at $9.18, 8 cents over the previous week opening average. Price posted gains on each day of the trading week to reach a Friday closing average of $9.38. The closing average was 22 cents over the previous Friday level (Figure 2). High daily individual market price of the past week was observed on Friday with Osceola and Helena both at $9.55. Low quote for the week was seen on Monday at Jonesboro and Des Arc with each having an average of $9.00. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.20 at Jonesboro and Des Arc to the high of $9.55 at Osceola and Helena. The ending quotes represented a range of 35 cents, 2 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.)