By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market gained 7 cents over the extended, Martin Luther King holiday weekend and opened trading on Tuesday at a statewide average of $9.60, 3 cents over the previous Monday opening price. Price trend for the past week was higher each day to a $9.69 statewide average closing price on Friday, 16 cents above the previous week closing price (Figure 1). High daily individual market price over the past week was $9.90 at Helena on Friday. Low quote of the week was $9.38 at Jonesboro and Des Arc on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.47 low at Jonesboro and Des Arc to the high of $9.90 at Helena. The ending quotes represented a range of 43 cents, a 3 cent narrowing from the previous week closing range. Only twelve individual markets provided price quotations throughout the week as the Pine Bluff market ceased submitting old crop quotes after Monday.
The Arkansas 2018 New Crop Soybean market rose 6 cents over the extended, Martin Luther King holiday weekend, one cent less than the old crop. The 2018 crop market opened on the past Tuesday at $9.70, 6 cents above the previous Monday opening price. The market lost 2 cents on Wednesday before posting gains through the remainder of the week. New soybeans ended the week at a statewide closing average of $9.75, an 11 cent improvement over the previous week closing price (Figure 2). New crop booking price for the 2018 crop ended the week 6 cents above the 2017 old crop cash market price. High daily individual market price over the past week for the 2018 crop was $9.89 at Helena, Osceola, and West Memphis on Friday. Low quote of the week was $9.49 at Wynne on Wednesday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.56 at Wynne to the high of $9.89 at Helena, Osceola, and West Memphis. The ending quotes represented a 33 cent range, 3 cents wider than the previous week closing range. Eleven markets ended the week providing booking price quotations on 2018 soybeans, but the week of trading saw Pine Bluff drop out and Wynne resume providing price quotes.
(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.)