By Bob Stark, Agricultural Economist
A 12 cent weekend gain lifted the Arkansas 2017 Crop Soybean Cash Market and price trended generally higher through the past week of trading. The market opened Monday at a statewide average of $10.33 and moved up to $10.47 on Thursday before settling at $10.43 on Friday to end the week, an overall 22 cent improvement from the previous Friday closing average price (Figure 1). High daily individual market price over the past week was $10.71 at Helena on Thursday. Low quote of the week was $10.17 at Wynne, Jonesboro, and Des Arc on Monday. The high and low represented the first week since early March that no individual market daily prices had fallen below the $10.00 level. End-of-the-week quotes saw Friday closing day prices ranging from a $10.24 low at Wynne to a high of $10.64 at Helena. The ending quotes represented a range of 40 cents, a 5 cent narrowing from the previous week closing range. The number of individual markets providing quotations throughout the week fell to ten as Blytheville stopped providing prices on Wednesday. Osceola had ceased reporting in the previous week.
The Arkansas 2018 New Crop Soybean market matched old crop beans with a 12 cent gain over the weekend, but did not follow with the same magnitude of gains through the week. New crop beans added 5 cents to market price on Tuesday, but then stabilized and a 7 cent gain on Thursday was halfway returned on Friday to end the trading week. New crop beans opened on Monday at a statewide average of $10.28, 4 cents above the previous week opening day average. The 2018 crop market closed on Friday at a statewide average of $10.35, a 19 cent increase from the previous week closing price (Figure 2). New beans price moved from 5 cents under old crop beans on Monday to 8 cents under on Friday to end the week. The high daily individual market price over the past week for the 2018 crop was $10.59 at West Memphis and Old Town/Elaine on Thursday. Low quote of the week was $10.09 at Wynne on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $10.16 at Wynne to a high of $10.55 at West Memphis and Old Town/Elaine. The ending quotes represented a 39 cent range, 5 cents wider than the previous week closing range. Thirteen markets continued to provide booking price quotations throughout the week on 2018 soybeans.