By Bob Stark, Agricultural Economist
The Arkansas 2016 Soybean Cash Market came off an extended weekend with a 5 cent gain and opened on Monday at a $9.44 statewide average market price. The gain was generally held through the week with only a modest price increase. Price peaked on Thursday at $9.52 before ending the week at a Friday statewide average of $9.49, an overall 10 cent gain for the week compared to the previous Friday closing mark (Figure 1). High daily individual market price of the past week was observed on Tuesday with Osceola at $9.64. Low quote for the week was found at Pine Bluff on Monday with an average of $9.30. End-of-the-week reported quotes on Friday from the five reporting markets showed prices ranging from a low of $9.39 at Pine Bluff to a high of $9.57 at both West Memphis and Osceola. The extreme ending quotes covered a range of only 18 cents, an 8 cent narrowing from the previous week closing spread.
The Arkansas 2017 New Crop Soybean Market enjoyed a 4 cent weekend gain and continued to rise through Thursday before a very mild correction on Friday to end the week. The weekend gain placed the Monday opening statewide average at $9.32, just 1 cent above the previous Monday average. The weekday gains took market price to an eventual peak of $9.45 on Thursday. The correction to end trading for the week left price at a Friday statewide average of $9.42, an overall 14 cent improvement from the previous Friday closing mark (Figure 2). High daily individual market price of the past week was $9.63, observed on Thursday at Helena. Low quote for the week was seen on Monday at both Jonesboro and Des Arc with an average of $9.08. No individual market daily quotes below $9.00 were received anytime during the week. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.25 at Wynne to a high of $9.59 at Helena. The ending quotes represented a range of 34 cents, a 10 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.)