By Bob Stark, Agricultural Economist
A 2 cent weekend improvement in the Arkansas 2017 Crop Soybean Cash Market gave hope that was amplified by a 27 cent gain on Tuesday. But the market lost 16 cents on Wednesday and essentially held steady through the remainder of the past week (Figure 1). The market opened on the past Monday at a statewide average of $8.65, 30 cents above the previous Monday opening. The statewide average price reached $8.92 on Tuesday before entering a decline that put the closing statewide average at $8.74 on Friday. The closing price left the market with an overall weekly gain of 11 cents compared to the previous Friday statewide average. Market quote sources were adjusting through the week as Wynne and Helena ceased on Monday and Tuesday, respectively. On the other hand, Jonesboro, Wheatley, Pendleton, Des Arc, and Stuttgart resumed providing quotes on Tuesday. The high daily individual market price over the past week was $9.04 at both West Memphis and Old Town/Elaine on Tuesday. Low quote of the week was $8.45 at Wynne on Monday. End-of-the-week quotes saw Friday closing day prices ranging from an $8.63 low at both Jonesboro and Des Arc to a high of $8.87 at Little Rock. The ending quotes represented a range of 24 cents, 13 cents narrower than the previous week closing range, but possibly due in part to the changes in markets providing quotes. Eight individual markets finished the week providing price quotations.
The Arkansas 2018 New Crop Soybean market tracked very closely with the old crop soybean prices. New crop beans rose 5 cents over the weekend and added another 27 cents on Tuesday before entering a decline that essentially extended through the end of the trading week (Figure 2). The market opened on the past Monday at a statewide average of $8.63, 23 cents over the previous Monday opening. Price reached $8.90 on Tuesday before the decline to a Friday closing statewide average of $8.69, an overall gain for the week of 11 cents compared to the previous Friday statewide average. The high daily individual market price over the past week was $8.99 at West Memphis, Helena, and Old Town/Elaine on Tuesday. Low quote of the week was $8.50 at Pine Bluff on Monday. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.59 at Pine Bluff to a high of $8.77 at Wynne. The ending quotes represented an 18 cent range, 10 cents narrowed than the previous week closing range. All thirteen of the usual markets provided booking price quotations in the past week.
To view the full report with July summary and market charts, see August 3, 2018 SOYBEAN NOTES with July 2018 Crop Monthly Summaries.