By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market lost 8 cents over the past weekend, but eventually regained almost all of the loss by the end of the week. Price opened trading on Monday at a statewide average of $10.14 and added 5 cents on Tuesday before suffering a major, 21 cent drop on Wednesday. The market then responded with a 19 cent gain on Thursday to jump back on an upward trend and added 4 cents on Friday to a statewide average of $10.21 to end the week, just 1 cent under the previous Thursday closing mark prior to Good Friday (Figure 1). High daily individual market price over the past week was $10.49 at Old Town/Elaine and West Memphis on Friday. Low quote of the week was $9.75 at Wynne on Wednesday. End-of-the-week quotes saw Friday closing day prices ranging from a $10.04 low at Wynne, Jonesboro, and Des Arc to the high of $10.49 at Old Town/Elaine and West Memphis. The ending quotes represented a range of 45 cents, a 15 cent widening from the previous week closing range. Only eleven individual markets provided quotations throughout the week as Osceola stopped providing prices.
The Arkansas 2018 New Crop Soybean market followed old crop beans lower over the weekend, falling 8 cents, but did not show the same recovery strength through the week. New crop beans moved lower on Wednesday like old crop beans, but only regained 12 cents on Thursday and were unchanged Friday to end the trading week. New crop beans opened on Monday at a statewide average of $10.24, 15 cent above the previous week opening day average. The 2018 crop market fell to $10.04 on Wednesday before turning around to climb to a Friday closing average of $10.16, a 16 cent decrease from the previous week closing price (Figure 2). New beans price moved from 10 cents over old crop beans on Monday to 5 cents under on Friday to end the week. The high daily individual market price over the past week for the 2018 crop was $10.42 at Helena, West Memphis, and Old Town/Elaine on Tuesday. Low quote of the week was $9.85 at Wynne on Wednesday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.99 at Wynne to a high of $10.33 at West Memphis and Old Town/Elaine. The ending quotes represented a 34 cent range, 4 cents narrower than the previous week closing range. Thirteen markets continued to provide booking price quotations throughout the week on 2018 soybeans.