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26
Nov
2018
Arkansas soybean market report for November 19-23, 2018
Author: Bob Stark, Agricultural Economist

By Bob Stark, Agricultural Economist

The Arkansas 2018 Crop Soybean Market had another short week of trading with the observance of Thanksgiving Day holidays on Thursday and Friday.  The market lost 19 cents over the preceding weekend and began trading on Monday at a statewide average of $8.28 per bushel, 2 cents under the opening average of the previous week. Price posted gains on each remaining trading day of the short week and closed on Wednesday at a statewide average of $8.37, an overall 10 cent decline from the previous Friday closing mark (Figure 1).  High daily individual market price of the past week was $8.68 on Wednesday at Blytheville.  Low quote for the week was $7.92 on Monday at Wynne.  End-of-the-week quotes saw the Wednesday closing day prices ranging from a low of $8.11 at Wynne to the high of $8.68 at Blytheville.  The ending quotes represented a range of 57 cents, a 10 cent narrowing from the previous week closing range and an exact reversal from the previous week.  Twelve markets submitted price quotes during each day of the past week.

Figure 1.  AR 2018 Crop Soybean Cash Market Prices (Nov. 19-23, 2018)

Figure 1. AR 2018 Crop Soybean Cash Market Prices (Nov. 19-23, 2018)

The short third week of USDA Agricultural Marketing Service price quotes for the Arkansas 2019 Crop Soybean Market saw price posting a significant gain on Monday and holding it through the remainder of the trading days.  The opening daily statewide average price on Monday was $8.78 per bushel, an 8 cent price decline from the first day of trading in the previous week. The market posted an 8 cent gain on Tuesday and gained another cent on Wednesday to close out the week at a statewide average of $8.87 (Figure 2).  High daily individual market price of the short week was $9.13 on Wednesday at Osceola.  Low quote for the short week was $8.64 on Monday at Jonesboro, Wheatley, and Des Arc.  End-of-the-week quotes saw the Wednesday closing day prices ranging from a low of $8.73 at Jonesboro, Wheatley, and Des Arc to the high of $9.13 at Osceola.  The ending quotes represented a range of 40 cents, unchanged from the previous week price range.  Eight markets continued to submit price quotes during the short week.

Figure 2.  AR 2019 New Crop Soybean Booking Prices (Nov. 19-23, 2018)

Figure 2. AR 2019 New Crop Soybean Booking Prices (Nov. 19-23, 2018)

(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.)


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