By Bob Stark, Agricultural Economist
A 16 cent gain over the extended Labor Day weekend put the Arkansas 2016 Soybean Cash Market at a $9.68 statewide average market price on Tuesday to open the past week of trading, 23 cents over the previous week opening average. The market rose 2 cents on Wednesday before entering a decline that extended through the rest of the week. The Friday statewide closing average was $9.62, an overall 12 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 Wednesday with Osceola at $9.79. Low quote for the week was found at Little Rock on Friday with an average of $9.49. End-of-the-week price quotes on Friday from the seven reporting markets showed prices ranging from the low of $9.49 at Little Rock to a high of $9.70 at Osceola. The extreme ending quotes covered a range of 21 cents, a 3 cent widening compared to the previous week closing spread.
The Arkansas 2017 New Crop Soybean Market exceeded the old crop market weekend gain with an 18 cent increase over the extended Labor Day weekend. Price held the gain through Wednesday before declining through the last two trading days of the week. The weekend gain put the Tuesday opening statewide average at $9.62, a margin of 6 cents under the old crop price and an increase of 24 cents over the previous week Monday average. The late week losses dropped the market price to a Friday statewide average of $9.54, an overall 10 cent improvement from the previous Friday closing mark (Figure 2). High daily individual market price of the past week was $9.76, observed on Wednesday at Osceola. Low quote for the week was $9.40 occurring on Friday at both Jonesboro and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $9.40 at both Jonesboro and Des Arc to a high of $9.67 at Helena. The ending quotes represented a range of 27 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.)