By Bob Stark, Agricultural Economist
The downturn seen over the previous week in the Arkansas 2017 Crop Soybean Cash Market lingered in the immediate past week as price traded within a 17 cent span. The market gained 4 cents over the weekend and opened trading on Monday at a statewide average of $10.22, 35 cents under the previous Monday opening price. A top of $10.28 was attained twice during the week to offset a $10.11 weekly low on Wednesday. The Friday statewide closing average was $10.28 to end the week (Figure 1). The ending average represented a 10 cent improvement from the previous week Friday closing average. High daily individual market price over the past week was $10.41 at Helena on Tuesday. Low quote of the week was $9.92 at Wynne on Wednesday, the only individual daily market quote under the $10.00 level during the past week. End-of-the-week quotes saw Friday closing day prices ranging from a $10.10 low at Wynne to a high of $10.40 at Helena and Old Town/Elaine. The ending quotes represented a range of 30 cents, 6 cents narrower than the previous week closing range. Twelve individual markets were providing price quotations over the past week.
The Arkansas 2018 New Crop Soybean market strengthened more than old crop beans with a gain of 7 cents over the weekend and held the gain well through the week. New crop beans opened on Monday at a statewide average of $10.21, 6 cents under the previous week opening day average. The 2018 crop market climbed to $10.29 on Tuesday for its weekly high and traded within a 15 cent span throughout the week. New beans ended the week at a statewide closing average of $10.26, a 12 cent increase over the previous week closing price (Figure 2). New beans price remained close to old beans price from 1 cent under on Monday to 2 cents under on Friday to close the week. High daily individual market price over the past week for the 2018 crop was $10.50 at Helena on Tuesday. Low quote of the week was $9.95 at Wynne on Wednesday, the only individual daily quote under $10.00 during the week. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $10.07 at Wynne to a high of $10.45 at Helena. The ending quotes represented a 38 cent range, unchanged from the previous week closing range. Thirteen markets continue to provide 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.)