By Bob Stark, Agricultural Economist
The past week of trading in the Arkansas 2016 Soybean Cash Market was somewhat disjointed as no state daily grain report was published on Thursday. A 2 cent loss over the weekend led the market at a $9.60 statewide average market price on Monday to open the past week of trading, 8 cents under the previous week opening average following the Labor Day holiday. The market lost 10 cents on Tuesday before recovering its loss on Wednesday. The Friday statewide closing average was $9.69, an overall 19 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 Friday with Osceola at $9.79. Low quote for the week was found at Little Rock on Tuesday with an average of $9.38. End-of-the-week price quotes on Friday from the seven reporting markets showed prices ranging from a low of $9.56 at Little Rock to the high of $9.79 at Osceola. The extreme ending quotes covered a range of 23 cents, a 2 cent widening compared to the previous week closing spread.
The Arkansas 2017 New Crop Soybean Market tracked 8 to 10 cents under the old crop market over the past week. Price opened the week at $9.52, 2 cents under the previous Friday closing mark and 10 cents under the previous week opening. A 10 cent loss on Tuesday was exactly recovered on Wednesday. Lack of a statewide report on Thursday was followed by a 7 cent gain to close out the week leaving the market at a Friday statewide average of $9.59, an overall 5 cent improvement from the previous Friday closing mark (Figure 2). High daily individual market price of the past week was $9.72, observed on Friday at Osceola. Low quote for the week was $9.29 occurring on Tuesday at both Jonesboro and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.47 at both Jonesboro and Des Arc to the high of $9.72 at Osceola. The ending quotes represented a range of 25 cents, a 2 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.)