By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market had an extended weekend and short trading week with the observance of Veterans Day on Monday. The market lost 3 cents over the extended weekend and began trading with a Tuesday statewide average of $8.30 per bushel, unchanged from the opening average of the previous week. Price then posted gains on each remaining trading day of the week and closed on Friday at a statewide average of $8.47, an overall 14 cent gain from the previous Friday closing mark (Figure 1). High daily individual market price of the past week was $8.77 on Friday at Blytheville. Low quote for the week was $7.96 on Tuesday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.10 at Wynne to the high of $8.77 at Blytheville. The ending quotes represented a range of 67 cents, a 10 cent widening from the previous week closing range. Twelve markets submitted price quotes during the week with Blytheville only reporting on Thursday and Friday.
The USDA Agricultural Marketing Service published its second week of price quotes for the Arkansas 2019 Crop Soybean Market after taking Monday off for the Veterans Day holiday. The opening daily statewide average price on Tuesday was $8.86 per bushel, unchanged from the first day of price quotes on November 7. The market posted daily gains throughout the week and closed on Friday at a statewide average of $8.94 (Figure 2). High daily individual market price of the shortened week was $9.19 on both Thursday and Friday at Osceola. Low quote for the short week was $8.72 on Tuesday at 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 $9.19 at Osceola. The ending quotes represented a range of 40 cents, a 2 cent widening from the previous week price range. Eight markets continued to submit 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.)