By Bob Stark, Agricultural Economist
A 17 cent weekend gain in the Arkansas 2017 Crop Soybean Cash Market lifted price for the early part of the past trading week before a midweek drop took the market to a lower level. The market opened trading on Monday at a statewide average of $10.07, 8 cents over the previous Monday opening price. The midweek drop took price 21 cents lower on Wednesday, a level that persisted through the remainde3r of the week. The Friday closing statewide average price was $9.89, a loss of 1 cent from the previous week Friday close (Figure 1). High daily individual market price over the past week was $10.29 at West Memphis, Old Town/Elaine, and Osceola on Tuesday. Low quote of the week was $9.60 at Wynne on Thursday. End-of-the-week quotes saw Friday closing day prices ranging from a $9.64 low at Wynne to a high of $10.09 at West Memphis, Old Town/Elaine, and Osceola. The ending quotes represented a range of 45 cents, 2 cents wider than the previous week closing range. Eleven individual markets were providing price quotations at the end of the week as Osceola resumed submitting quotes.
The Arkansas 2018 New Crop Soybean market is following the old crop bean price very closely. The new crop gained 9 cents over the weekend and opened on Monday at a statewide average of $10.06, a 5 cent rise from the previous Monday. Price remained steady until a Wednesday drop of 15 cents to a level that the market maintained through the remainder of the week. The Friday closing statewide average was $9.90, a decline of 7 cents from the previous Friday price (Figure 2). The high daily individual market price over the past week for the 2018 crop was $10.21 at West Memphis, Old Town/Elaine and Helena on Tuesday. Low quote of the week was $9.70 at Wynne on Thursday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.74 at Wynne to a high of $10.04 at Helena. The ending quotes represented a 30 cent range, unchanged from the previous week closing range. Thirteen markets continued to provide booking price quotations throughout the week on 2018 soybeans.