By Bob Stark, Agricultural Economist
The Arkansas 2017 New Crop Soybean Market became the No. 1 Yellow Soybeans Cash market this past week as USDA transitioned into a new crop market year. Price opened the week at $8.97, a decline of 36 cents over the weekend. This loss and a much smaller 5 cent drop on Tuesday were almost fully overcome through the remainder of weekly trading as each subsequent day posted gains. The Friday closing statewide average of $9.27 left the market with an overall 6 cent fall from the previous Friday closing mark (Figure 2). High daily individual market price of the past week was $9.48, observed on Thursday at Old Town/Elaine. Low quote for the week was $8.73 on Tuesday at both Jonesboro and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.15 at Wynne to a high of $9.43 at West Memphis. The ending quotes represented a range of only 28 cents, a 27 cent narrowing from the previous week closing range.