By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market had a relatively flat week after gaining 6 cents over the weekend. The market opened trading on Monday at a statewide average of $9.75, 15 cents over the previous, post-MLK Holiday Tuesday opening price. Price traded within an 8 cent range through the entire week before closing at a $9.73 statewide average closing price on Friday, 4 cents above the previous week closing price (Figure 1). High daily individual market price over the past week was $9.99 at Osceola on Wednesday. Low quote of the week was $9.54 at Jonesboro and Des Arc on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.56 low at Jonesboro, Wynne, and Des Arc to the high of $9.92 at Osceola. The ending quotes represented a range of 36 cents, a 7 cent narrowing from the previous week closing range. The market ended trading for the week with thirteen individual markets providing price quotations as the Pine Bluff market resumed submitting old crop quotes on Thursday.
The Arkansas 2018 New Crop Soybean market rose 4 cents over the weekend, two cents less than the old crop. The 2018 crop market opened on the past Monday at $9.79, 9 cents above the previous, post-MLK Holiday Tuesday opening price. The market proceeded to trade within a 7 cent range throughout the remainder of the week. New soybeans ended the week at a statewide closing average of $9.81, a 6 cent improvement over the previous week closing price (Figure 2). New crop booking price for the 2018 crop ended the week 8 cents above the 2017 old crop cash market price. High daily individual market price over the past week for the 2018 crop was $10.02 at Helena on Thursday. Low quote of the week was $9.61 at Wynne on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.63 at Wynne to the high of $9.98 at Helena. The ending quotes represented a 35 cent range, 2 cents wider than the previous week closing range. Thirteen markets ended the week providing booking price quotations on 2018 soybeans as Pine Bluff and Blytheville resumed 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.)