By Bob Stark, Agricultural Economist
The Arkansas 2016 Soybean Cash Market fell 12 cents over the weekend and lost another 16 cents on Tuesday before regaining momentum and posting daily gains through Friday (Figure 1). The weekend decline placed the Monday statewide average at $9.91 to open the week, still 15 cents above the previous Monday average. Tuesday losses dropped the average further to $9.75, but gains on the remaining weekdays carried price to a Friday closing statewide average of $9.97, a decline of 6 cents from the previous Friday closing mark. High daily individual market price of the past week was observed on Friday with Osceola at $10.21. Low quote for the week was $9.49 at Wynne on Tuesday. End-of-the-week reported quotes on Friday showed prices ranging from a low of $9.79 at Little Rock to the high of $10.21 at Osceola. The extreme ending quotes covered a range of 42 cents, a 1 cent narrowing compared to the previous week spread.
The Arkansas 2017 Soybean Cash Market moved similar to the 2016 Old Crop Market over the past week while maintaining a 6 cent advantage. Price fell 12 cents over the weekend to an opening statewide average on Monday of $9.98, 14 cents above the previous week opening price. A 16 cent Tuesday loss put the market at its weekly low of $9.82 before posting gains each remaining day of trading to a Friday closing average of $10.03, a loss of 7 cents from the previous Friday closing mark, but still a second straight week ending above $10.00 (Figure 2). High daily individual market price of the past week was observed on Friday with Osceola at $10.20. Low quote for the week was seen on Tuesday at both Jonesboro and Des Arc with each having an average of $9.65. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.85 at both Jonesboro and Des Arc to the high of $10.20 at Osceola. The ending quotes represented a range of 35 cents, a 4 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.)