By Bob Stark, Agricultural Economist
The Labor Day-shortened weekend provided a 2 cent boost to the Arkansas 2017 Crop Soybean Cash Market, but it gave back 7 cents the next day. Price was steady on Thursday before moving 4 cents higher on Friday to end trading for the week (Figure 1). The market opened on Tuesday following the holiday at a statewide average of $7.85, 3 cents under the previous Monday opening. The statewide average price fell to $7.78 before rising Friday to a closing statewide average of $7.82, an overall weekly loss of 1 cent compared to the previous Friday closing statewide average. The high daily individual market price over the past week was $7.94 at Little Rock on both Tuesday and Friday. Low quote of the week was $7.69 at both Jonesboro and Des Arc on Wednesday. End-of-the-week quotes saw Friday closing day prices ranging from a $7.75 low at Jonesboro, Des Arc, and Pine Bluff to the high of $7.94 at Little Rock. The ending quotes represented a range of 19 cents, unchanged for the second consecutive week. Eleven individual markets provided price quotations as Helena, Osceola, and Pine Bluff resumed submitting quotes.
The Arkansas 2018 New Crop Soybean market tracked very closely with the old crop soybean price movements. New crop beans gained 1 cent over the extended Labor Day weekend before dropping 5 cents for two days. The market ended the short week on a rather high note by regaining 4 cents on Friday to end the week (Figure 2). The market opened on the past Tuesday at a statewide average of $7.84, 4 cents under the previous Monday opening. Price fell to $7.79 on both Wednesday and Thursday before the Friday rally that took the closing statewide average to $7.83, an overall unchanged result for the week compared to the previous Friday statewide average. The high daily individual market price over the past week was $7.96 at Helena on both Tuesday and Friday. Low quote of the week was $7.66 at Pine Bluff, also on Friday. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $7.66 at Pine Bluff to the high of $7.96 at Helena. The ending quotes represented a 20 cent range, 3 cents narrower than the previous week closing range. All thirteen of the usual markets provided booking price quotations 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.)