By Bob Stark, Agricultural Economist
Strength returned to the Arkansas 2017 Crop Soybean Cash Market with a 31 cent weekend gain followed by solid daily gains that carried price above the $10.00 level. The market opened trading on Monday at a statewide average of $9.90, 35 cents above the previous Monday opening price. Subsequent daily gains of 10, 6, and 7 cents further lifted the market to a Thursday closing of $10.13 statewide average, 44 cents above the previous week closing price (Figure 1). USDA-MAS market quotes ended on Thursday due to the Presidents Day holiday coming up Monday. High daily individual market price over the past week was $10.28 at Osceola on Thursday. Low quote of the week was $9.72 at Wynne on Monday. End-of-the-week quotes saw Thursday closing day prices ranging from a $9.94 low at Wynne to the high of $10.28 at Osceola. The ending quotes represented a range of 34 cents, a 1 cent widening from the previous week closing range. The market ended trading for the week with thirteen individual markets providing price quotations. Osceola resumed submitting price quotes on Monday and Blytheville likewise resumed on Tuesday. Both markets had last provided quotes on January 31.
The Arkansas 2018 New Crop Soybean market could not fully match the strength seen in old crop beans, but still gained 25 cents over the weekend to open at a statewide average of $9.94, 24 cents above the previous week opening day average. The 2018 crop market proceeded to add 5, 1, and 4 cents respectfully during the shortened trading week prior to Presidents Day. New soybeans ended the week at a statewide closing average of $10.04, sweeping past the $10.00 level and representing a 25 cent improvement over the previous week closing price (Figure 2). New beans price flipped in relationship to the old beans price moving from 4 cents over on Monday to 9 cents under on Thursday to close the week. High daily individual market price over the past week for the 2018 crop was $10.24 at Osceola on Thursday. Low quote of the week was $9.74 at Wynne on Monday. End-of-the-week quotes saw the Thursday closing day prices ranging from a low of $9.84 at Wynne to the high of $10.24 at Osceola. The ending quotes represented a 40 cent range, 3 cents wider than the previous week closing range. Thirteen markets provided booking price quotations throughout the week 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.)