By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market lost 4 cents over the weekend and opened trading at a Monday statewide average of $9.57, 11 cents over the post-New Year’s Day Tuesday opening price. Price trend for the week was lower each day through Thursday before an 11 cent Friday rally that lifted the market to a $9.53 statewide average closing price, 8 cents under the previous week closing price (Figure 1). High daily individual market price over the past week was $9.85 at Osceola on Monday. Low quote of the week was $9.20 at Jonesboro and Des Arc on Thursday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.31 low at Jonesboro and Des Arc to a high of $9.77 at West Memphis. The ending quotes represented a range of 46 cents, a 2 cent narrowing from the previous week closing range. Thirteen individual markets provided price quotations throughout the week.
The Arkansas 2018 New Crop Soybean market lost 2 cents over the past weekend, half of the old crop loss, and opened on the past Monday at $9.64, 2 cents above the previous post-New Year’s Day Tuesday opening price. The market declined throughout the week before making a 12 cent rally on Friday. New soybeans ended the week at a statewide closing average of $9.64. The average closing price represented a 2 cent decline from the previous week closing price (Figure 2). New crop booking price for the 2018 crop ended the week 11 cents above the 2017 old crop cash market price. High daily individual market price over the past week for the 2018 crop was $9.81 at Osceola on both Monday and Tuesday. Low quote of the week was $9.38 at both Jonesboro and Des Arc on Thursday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.50 at Jonesboro and Des Arc to a high of $9.80 at Osceola. The ending quotes represented a 30 cent range, 1 cent narrower than the previous week closing range. Eleven markets are now providing booking price quotations on 2018 soybeans.
(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.)