By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market began the past week with much anticipation as price rose 23 cents over the weekend. The market opened on Monday at a statewide average of $8.34 per bushel, a 29 cent margin above the opening average of the previous week. But price fell 6 cents on Tuesday and dropped 21 cents on Thursday before closing on Friday at a statewide average of $8.02, an overall 9 cent loss from the previous Friday closing mark (Figure 1). High daily individual market price of the past week was $8.50 on Monday at Osceola. Low quote for the week was $7.77 on Friday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $7.77 at Wynne to a high of $8.17 at both Blytheville and West Memphis. The ending quotes represented a range of 40 cents, a 2 cent widening from the previous week closing range. Of the thirteen reporting markets, seven ended the week above the $8.00 level. All of the thirteen markets provided quotes each day of 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.)