By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market suffered a 14 cent weekend loss and, despite a 4 cent recovery on Tuesday, price trended lower through the remainder of the trading week. The market opened Monday at a statewide average of $10.29, 4 cents lower than the previous Monday. Price rose to $10.33 on Monday and then fell daily to the daily low of the week on Friday of $10.16, an overall 27 cent decline from the previous Friday closing average price (Figure 1). High daily individual market price over the past week was $10.54 at Helena on Tuesday. Low quote of the week was $9.99 at Wynne on Friday. End-of-the-week quotes saw Friday closing day prices ranging from the $9.99 low at Wynne to a high of $10.35 at Helena, West Memphis, and Old Town/Elaine. The ending quotes represented a range of 36 cents, a 4 cent narrowing from the previous week closing range. The number of individual markets providing quotations throughout the week remained at ten.
The Arkansas 2018 New Crop Soybean market outperformed old crop beans with only a 10 cent weekend loss and a recovery on Tuesday of 6 cents. The market eventually followed a similar trend, suffering consecutive daily losses on both Thursday and Friday. New crop beans opened on Monday at a statewide average of $10.25, 3 cents under the previous week opening day average. The 2018 crop market rose to a weekly high of $10.31 on Tuesday and held steady Wednesday before falling to a Friday statewide average of $10.18, a 17 cent decrease from the previous week closing price (Figure 2). New beans price moved from 4 cents under old crop beans on Monday to 2 cents over on Friday to end the week. The high daily individual market price over the past week for the 2018 crop was $10.49 at West Memphis and Old Town/Elaine on Tuesday. Low quote of the week was $10.01 at Wynne on Friday. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $10.01 at Wynne to a high of $10.35 at Helena. The ending quotes represented a 34 cent range, 5 cents narrower than the previous week closing range. Thirteen markets continued 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.)