By Bob Stark, Agricultural Economist
Price quotations reported by the USDA-Agricultural Marketing Service began late this week for the Arkansas 2018 Crop Soybean Market. The market was closed on Monday in observance of Columbus Day. The 2018 crop lost 4 cents over the extended weekend prior to this past week of trading and opened on Tuesday at a statewide average of $8.05 per bushel, still 13 cents above the previous Monday average. Price fell under the $8.00 level on Wednesday to $7.94 before rallying the final two trading days of the week to its high daily average of the week (Figure 1). The market closed trading at a Friday statewide average of $8.11, the highest daily average since August 22 and an overall 2 cent gain from the previous Friday closing mark. High daily individual market price of the past week was $8.26 on Friday at Osceola. Low quote for the week was $7.72 on Wednesday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $7.88 at Wynne, the only market under $8.00, to the high of $8.26 at Osceola. The ending quotes represented a range of 38 cents, a 2 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.)