By Bob Stark, Agricultural Economist
Up and down to lower! That was the message from the past week of Arkansas 2017 Crop Soybean Cash Market trading. The market rose 2 cents over the weekend to give some price hope, but then suffered declines midweek before rallying on Friday. Trading opened Monday at a statewide average of $8.93, 45 cents under the previous Monday opening. Price fell to $8.66 by Thursday, before regaining 14 cents on Friday to close the week at a statewide average of $8.80 (Figure 1). The Friday closing price still left the market with an 11 cent overall weekly loss compared to the previous Friday statewide average. The high daily individual market price over the past week was $9.12 at Helena on Monday. Low quote of the week was $8.46 at Wynne on Thursday. End-of-the-week quotes saw Friday closing day prices ranging from an $8.60 low at Wynne to a high of $9.08 at Osceola, the only market finishing the week above $9.00. The ending quotes represented a range of 48 cents, 5 cents wider than the previous week closing range. Nine individual markets continued to provide price quotations.
The Arkansas 2018 New Crop Soybean market followed a similar movement pattern as old crop soybeans. New crop beans held steady over the weekend and opened Monday at a statewide average of $9.12, a 43 cent drop from the previous Monday opening average. Price declined through the week, eventually reaching $8.83 on Thursday before posting a 16 cent rally on Friday to end the week. The Friday statewide average was $8.99, a 13 cent drop from the previous week closing price (Figure 2). High daily individual market price over the past week for the 2018 crop was $9.27 at Helena on Monday. Low quote of the week was $8.68 at Wynne on Thursday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.82 at Wynne to a high of $9.11 at both West Memphis and Old Town/Elaine. The ending quotes represented a 29 cent range, a 3 cent narrowing compared to the previous week. Thirteen markets were providing booking price quotations as West Memphis and Old Town/Elaine resumed participation early in the past week.
(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.)