By Bob Stark, Agricultural Economist
A poor weekend movement in the Arkansas 2017 Crop Soybean Cash Market was quick to disappear as the week began, but price soon stabilized and remained within a 5 cent span to finish the week. The market lost 6 cents over the weekend and opened trading on Monday at a statewide average of $9.55, 24 cents under the previous Monday opening price. A Tuesday climb of 17 cents was mostly retained through Friday with the market closing at a $9.69 statewide average price, 8 cents above the previous week closing price (Figure 1). High daily individual market price over the past week was $9.98 at West Memphis on Thursday. Low quote of the week was $9.40 at Wynne on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.53 low at Wynne to a high of $9.86 at West Memphis. The ending quotes represented a range of 33 cents, a 2 cent widening from the previous week closing range. The market ended trading for the week with eleven individual markets providing price quotations.
The Arkansas 2018 New Crop Soybean market fell 7 cents over the weekend, one cent more than the old crop. The 2018 crop market opened on the past Monday at $9.70, 17 cents under the previous Monday opening price and 15 cents over old crop beans. The market rose 14 cents on Tuesday, but then stabilized to trade within a 5 cent range throughout the remainder of the week. New soybeans ended the week at a statewide closing average of $9.79, a 2 cent improvement over the previous week closing price and 11 cents above the 2017 old crop cash market price (Figure 2). . High daily individual market price over the past week for the 2018 crop was $10.01 at Osceola on both Tuesday and Thursday. Low quote of the week was $9.52 at Wynne on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.60 at Wynne to a high of $9.97 at Osceola. The ending quotes represented a 37 cent range, 2 cents wider than the previous week closing range. Thirteen markets ended the week 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.)