By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market suffered a 20 cent weekend loss to begin the past week and continued to move generally lower throughout the trading week (Figure 1). The opening statewide average price on the past Monday was $8.39, an actual increase of 6 cents from the previous Monday opening. Price rose 1 cent on Tuesday, lost 13 cents on Wednesday, and regained 1 cent on Thursday before losing 18 more cents in Friday trading. The market closed on Friday at $8.10, an overall weekly loss of 49 cents compared to the previous Friday statewide average. The high daily individual market price over the past week was $8.68 at Helena on Tuesday. Low quote of the week was $7.94 at Wynne on Friday, the first time that a daily statewide average dipped below the $8.00 level. End-of-the-week quotes saw Friday closing day prices ranging from the low of $7.94 at Wynne to a high of $8.29 at Helena. The ending quotes represented a range of 35 cents, 11 cents narrower than the previous week closing range, but only four individual markets were providing price quotations by the end of the past week.
The Arkansas 2018 New Crop Soybean market followed stepwise lower price pattern similar to old crop soybeans with a 23 cent weekend loss, 1 cent regained on Tuesday, a 24 cent decline on Wednesday that held through Thursday, and a 16 cent drop in Friday trading (Figure 2). New crop beans opened on the past Monday at a statewide average of $8.53, 1 cent over the previous Monday opening. The Friday closing statewide average of $8.14 left the market with an overall weekly loss of 62 cents compared to the previous Friday statewide average. High daily individual market price over the past week was $8.66 at West Memphis and Old Town/Elaine on Tuesday. Low quote of the week was $7.98 at Pine Bluff on Friday. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $7.98 at Pine Bluff to a high of $8.25 at Osceola. The ending quotes represented a 27 cent range, unchanged compared to the previous week. Thirteen markets continued providing booking price quotations in the past week.