By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market lost 1 cent over the weekend and began the past week with a Monday statewide average of $8.30 per bushel, a 40 cent gain from the Monday opening average of the previous week. Price lost 4 cents on Tuesday, but then regained its losses and maintained its level through the remaining trading days of the week. The market closed on Friday at a statewide average of $8.33, an overall 2 cent gain from the previous Friday closing mark (Figure 1). High daily individual market price of the past week was $9.15 on Wednesday at Helena. Low quote for the week was $7.97 on Thursday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.05 at Wynne to a high of $8.62 at West Memphis. The ending quotes represented a range of 57 cents, an 8 cent widening from the previous week closing range. Twelve markets submitted price quotes during the week with Blytheville only reporting on Monday and Helena and Pine Bluff both missing selected days. The eleven markets reporting on Friday were all above the $8.00 level.
The USDA Agricultural Marketing Service began publishing booking price quotes for the Arkansas 2019 Crop Soybean Market on Wednesday, November 7. The first daily statewide average price was $8.86 per bushel. The market gained 2 cents on Thursday and another 5 cents on Friday to end the week. The market closed on Friday at a statewide average of $8.93 (Figure 2). High daily individual market price of the initial short week was $9.17 on Friday at both West Memphis and Osceola. Low quote for the short week was $8.72 on Wednesday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.79 at Jonesboro, Wheatley, and Des Arc to the high of $9.17 at West Memphis and Osceola. The ending quotes represented a range of 38 cents. Eight markets submitted price quotes during the short 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.)