The Arkansas 2017 Crop Soybean Cash Market gained 2 cents over the weekend and continued to add gains throughout the past week (Figure 1). The statewide average opening price on Monday was $8.35, a 15 cent increase from the previous Monday opening. The market closed on Friday at $8.63, an overall weekly gain of 30 cents compared to the previous Friday statewide average. The high daily individual market price over the past week was $8.78 at West Memphis and Old Town/Elaine as those markets resumed submitting quotes on Friday. Low quote of the week was $8.23 at Wynne on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.41 at Wynne to the high of $8.78 at West Memphis and Old Town/Elaine. The ending quotes represented a range of 37 cents, 20 cents wider than the previous week closing range, but readers should note that the number of reporting markets increased from four to six individual markets across the state as of Friday.
The Arkansas 2018 New Crop Soybean market followed a more modest path than old crop soybeans by gaining just 2 cents over the weekend. The general trend was higher for the week with the exception of a temporary dip on Thursday (Figure 2). New crop beans opened on the past Monday at a statewide average of $8.40, 14 cents over the previous Monday opening. The Friday statewide average represented the high of the week at $8.58, an overall weekly gain of 20 cents compared to the previous Friday statewide average. High daily individual market price over the past week was $8.72 at Blytheville on Friday. Low quote of the week was $8.22 at Pine Bluff on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.44 at Pine Bluff to the high of $8.72 at Blytheville. The ending quotes represented a 28 cent range, a 4 cent narrowing compared to the previous week. The number of reporting markets returned to full strength of 13 as West Memphis and Old Town/Elaine resumed providing price quotations throughout this 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.)