By Bob Stark, Agricultural Economist
The Arkansas 2016 Soybean Cash Market overcame a weekend decline to post solid daily gains before receding slightly on Friday (Figure 1). A 4 cent weekend decline was fully recovered on the first trading day and price continued to climb each day, eventually reaching a weekly high statewide average of $10.06 on Thursday. The Monday opening average was $9.76, 31 cents under the previous Monday opening average. Daily gains throughout the week more than offset a Friday market adjustment of 3 cents lower. The Friday closing statewide average was $10.03, an improvement of 23 cents from the previous Friday closing mark. High daily individual market price of the past week was observed on Thursday with Osceola at $10.23. Low quote for the week was found at Wynne on Monday with an average of $9.52. End-of-the-week reported quotes on Friday showed prices ranging from a low of $9.76 at Wynne to a high of $10.19 at both Osceola and West Memphis. The extreme ending quotes covered a range of 43 cents, a 7 cent widening compared to the previous week and exactly offsetting the previous week change in the price spread.
The Arkansas 2017 Soybean Cash Market moved similar to the 2016 Old Crop Market over the past week while maintaining its 7 to 8 cent advantage. Price fell 4 cents over the weekend and trading opened on Monday at $9.84, 42 cents under the previous week opening price. Daily gains were posted until average statewide price reached a weekly high of $10.14 on Thursday. A Friday price correction of 4 cents lower still left the market with a closing statewide average at $10.10, a gain of 22 cents compared to the previous Friday closing average (Figure 2). High daily individual market price of the past week was observed on Thursday with Osceola at $10.29. Low quote for the week was seen on Monday at both Jonesboro and Des Arc with each having an average of $9.70. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.94 at both Jonesboro and Des Arc, the only individual markets under $10.00, to a high of $10.25 at both Osceola and Blytheville. The ending quotes represented a range of 31 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.)