By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market surged ahead strongly over the weekend with a 16 cent gain over the prior week’s Friday closing price. The opening price on Monday was a statewide average of $8.61 per bushel, an improvement of 46 cents from the prior Monday opening statewide average. Price continued generally higher through the week despite no market report on Wednesday, the national day of mourning for former president George H.W. Bush. The closing statewide average on Friday stood at $8.70, an overall 26 cent gain from the previous Friday closing mark (Figure 1). High daily individual market price of the past week was $8.98 on Friday at Blytheville. Low quote for the week was $8.34 on Monday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.45 at Wynne to the high of $8.98 at Blytheville. The ending quotes represented a range of 53 cents, a 9 cent expansion from the previous Friday closing range. Eleven markets submitted price quotes throughout the week.
The Arkansas 2019 Crop Soybean Market gained 8 cents over the weekend and added to its gains each trading day of the past week. Price opened on Monday at a statewide average of $9.00 per bushel, exceeding the $9.00 level for the first time on the 2019 crop. The statewide average gained 6 cents on Tuesday, 3 cents on Thursday, and another 6 cents to end the week on Friday. No Wednesday report was released due to the George H.W. Bush national day of mourning. The gains pushed the closing statewide average to $9.15 on Friday (Figure 2). The market close on Friday represented a 23 cent gain from the previous Friday closing average. High daily individual market price of the past week was $9.25 on Friday at West Memphis. Low quote for the week was $8.92 on Monday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.08 at Jonesboro, Wheatley, and Des Arc to the high of $9.25 at West Memphis. The ending quotes represented a range of only 17 cents, a 21 cent narrowing from the previous Friday closing range. Seven markets submitted price quotes throughout the 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.)