By Bob Stark, Agricultural Economist
Price quotations reported by the USDA-Agricultural Marketing Service switched this week for the Arkansas 2018 Crop Soybean Market from 2018 New Crop Booking to 2018 Cash. Cash price quotations on the 2017 crop are no longer being reported. The 2018 crop gained 12 cents over the weekend prior to this past week of trading and opened on Monday at a statewide average of $7.92 per bushel, a 20 cent decline from the previous Monday average. Price regained 9 cents on Tuesday and essentially held the gain until Friday when an 11 cent rally took the market to its weekly high average (Figure 1). The market closed trading at a Friday statewide average of $8.09, an overall 19 cent gain from the previous Friday closing mark. High daily individual market price of the past week was $8.25, observed on Friday at both Helena and Osceola. Low quote for the week was $7.78 on Monday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $7.89 at Wynne to the high of $8.25 at both Helena and Osceola. The ending quotes represented a range of 36 cents, a 6 cent widening from the previous week closing range.
(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.)