By Bob Stark, Agricultural Economist
The Arkansas 2017 Crop Soybean Cash Market gained 10 cents over the weekend, opening on Monday at an $8.20 statewide average. Price rose 13 cents in the Wednesday report and held that average through Thursday, the last day of trading (Figure 1). The $8.20 opening statewide average price on Monday represented a 19 cent decline from the previous Monday opening. The market closed on Thursday at $8.33, an overall weekly gain of 23 cents compared to the previous Friday statewide average. The high daily individual market price over the past week was $8.48 at Helena on Wednesday. Low quote of the week was $8.05 at Wynne on Monday. End-of-the-week quotes saw the Thursday closing day prices ranging from a low of $8.21 at Wynne to a high of $8.38 at Helena. The ending quotes represented a range of 17 cents, 18 cents narrower than the previous week closing range, but readers should note that only four individual markets across the state provided price quotations throughout the past week.
The Arkansas 2018 New Crop Soybean market exceeded old crop soybeans by gaining 12 cents over the weekend. An additional 9 cents was added on Wednesday and another 3 cents on Thursday according to the limited reporting days (Figure 2). New crop beans opened on the past Monday at a statewide average of $8.26, 27 cents under the previous Monday opening. The Thursday closing statewide average of $8.38 left the market with an overall weekly gain of 24 cents compared to the previous Friday statewide average. High daily individual market price over the past week was $8.53 at Osceola on Thursday. Low quote of the week was $8.11 at Pine Bluff on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.21 at Pine Bluff to the high of $8.53 at Osceola. The ending quotes represented a 32 cent range, a 5 cent widening compared to the previous week. The number of reporting markets dwindled to 11 as West Memphis and Old Town/Elaine stopped providing price quotations in midweek.
(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.)