By Bob Stark, Agricultural Economist
A weekend loss of 26 cents in the Arkansas 2017 Crop Soybean Cash Market was followed by a week of basically steady trading as the market move within a 7 cent span. The market opened trading on Monday at a statewide average of $10.02, 20 cents under the previous Monday opening price. A top daily statewide average of $10.09 was reached on Wednesday before trading ended on Friday at a statewide closing average of $10.06 (Figure 1). The ending average represented a 22 cent loss from the previous week Friday closing average. High daily individual market price over the past week was $10.20 at Helena on Wednesday. Low quote of the week was $9.83 at Wynne on Monday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.88 low at Wynne to a high of $10.16 at Osceola and Old Town/Elaine. The ending quotes represented a range of 28 cents, 2 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 lost only 18 cents over the weekend and opened on Monday at a statewide average of $10.08, 13 cents under the previous week opening day average. The 2018 crop market had even less price movement during the week than old crop beans, trading within a 3 cent span throughout the week. New beans ended the week at a statewide closing average of $10.11, a 15 cent decrease from the previous week closing price (Figure 2). New beans price moved above old beans price this week with an advantage ranging from 6 cents on Monday to 5 cents on Friday. High daily individual market price over the past week for the 2018 crop was $10.30 at Helena on Wednesday. Low quote of the week was $9.89 at Wynne on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.93 at Wynne to a high of $10.28 at West Memphis. The ending quotes represented a 35 cent range, 3 cents narrower than 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.)