By Bob Stark, Agricultural Economist
Trading in the Arkansas 2016 Soybean Cash Market rose 2 cents over the weekend to a Monday statewide average of $8.91. The trend continued through most of the week before posting a big gain on Friday, mostly due to the USDA Crop Progress Report. Old crop price closed the week at a $9.28 average price (Figure 1). The closing average gave trading a 39 cent overall gain from the previous Friday average. High daily individual market price of the past week was observed on Friday with Osceola at $9.51. Low quote for the week was found at Wynne on Monday with an average of $8.74. End-of-the-week reported quotes on Friday showed prices ranging from a low of $9.09 at Wynne to the high of $9.51 at Osceola. The ending quotes covered a range of 42 cents, a widening of 4 cents compared to the previous week closing spread.
The Arkansas 2017 Soybean Cash Market followed a similar pattern as old crop soybeans with a 3 cent weekend gain followed by steady daily gains until Friday when price surged 30 cents higher in response to the USDA Crop Progress Report. Trading opened on Monday at $9.03, 35 cents under the previous week opening average. Price finished the week at a closing statewide average of $9.44, an overall gain of 44 cents from the previous week closing mark (Figure 2). High daily individual market price of the past week was observed on Friday with Osceola at $9.62. Low quote for the week was seen on Monday at Jonesboro and Des Arc with each having an average of $8.86. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.27 at Jonesboro and Des Arc to the high of $9.62 at Osceola. The ending quotes represented a range of 35 cents, a widening of 2 cents compared to 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.)