By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market closed the month of April by losing 6 cents over the final weekend followed by a week of highly variable price movements. The market opened trading on Monday at a statewide average of $10.26, 19 cents above the previous Monday opening price. The USDA-AMS report had Tuesday market results with a gain of 4.75-15.50 cents, but the reported prices were somewhat distorted as only four markets across the state provided price quotes. The Tuesday average of these four markets was $10.54, a gain of 28 cents over the Monday average. The number of reporting markets returned to ten on Wednesday with a statewide average that day of $10.23. Price rose 17 cents on Thursday before falling 16 cents on Friday to a closing statewide average of $10.24, an 8 cent decline from the previous Friday closing mark (Figure 1). High daily individual market price over the short week was $10.61 at West Memphis and Old Town/Elaine on Thursday. Low quote of the week was $10.01 at Des Arc on Wednesday. End-of-the-week quotes saw Friday closing day prices ranging from a $10.02 low at Wynne to a high of $10.45 at both West Memphis and Old Town/Elaine. The ending quotes represented a range of 43 cents, a 6 cent widening from the previous week closing range. Ten individual markets were providing price quotations at the end of the week.
View the full report: May 4, 2018 SOYBEAN NOTES with April 2018 Crop Monthly Summaries