By Bob Stark, Agricultural Economist
The first full week of July trading in the Arkansas 2016 Soybean Cash Market had a 23 cent weekend gain to a Monday statewide average of $10.07. The opening day average was 48 cents above the Wednesday opening day of the previous short holiday week. Price moved higher on Tuesday before declining sharply over the next two trading days. A Friday rally left the closing statewide average at $9.80, a decline of 4 cents from the previous Friday closing mark (Figure 1). High daily individual market price of the past week was observed on Tuesday with West Memphis at $10.30. Low quote for the week was found at Wynne on Thursday with an average of $9.43. End-of-the-week reported quotes on Friday showed prices ranging from a low of $9.56 at Wynne to a high of $9.92 at Osceola. The extreme ending quotes covered a range of 36 cents, a 7 cent narrowing compared to the previous week closing spread.
The Arkansas 2017 Soybean Cash Market posted a similar price movement to the 2016 Old Crop Market over the past week. Trading opened on Monday at $10.26, 23 cents over the previous Friday closing price and 43 cents above the previous short holiday week opening price on Wednesday. Price in the 2017 crop market posted a small gain on Tuesday before declining sharply through Thursday. A Friday rally left the closing statewide average at $9.88, a loss of 15 cents compared to the previous Friday closing average (Figure 2). High daily individual market price of the past week was observed on Tuesday with Helena at $10.43. Low quote for the week was seen on Thursday at both Jonesboro and Des Arc with each having an average of $9.60. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.74 at both Jonesboro and Des Arc to a high of $10.03 at Osceola, the only individual market at or above $10.00. The ending quotes represented a range of 29 cents, a 1 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.)