By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market lost 7 cents over the weekend, but then posted solid gains through midweek before entering a downward slide that surrendered all of the gains and more by the end of the week (Figure 1). Opening price on Monday was at a statewide average of $8.63 per bushel, an improvement of 2 cents from the prior Monday opening statewide average. The market closed on Friday at $8.55, a 15 cent loss from the prior week’s Friday closing price. High daily individual market price of the past week was $8.96 on Tuesday at Blytheville. Low quote for the week was $8.29 on Friday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $8.29 at Wynne to a high of $8.72 at Blytheville. The ending quotes represented a range of 43 cents, a 10 cent narrowing from the previous Friday closing range. Eleven markets continued to submit price quotes throughout the week.
The Arkansas 2019 Crop Soybean Market lost 3 cents over the weekend, but proceeded to post solid gains through midweek before entering a downward slide that gave up all of the gains of the week and more. Price opened on Monday at a statewide average of $9.12 per bushel, 12 cents above the previous Monday opening mark. The statewide average gained 6 cents on Tuesday and 4 cents on Wednesday before suffering a 9 cent loss on Thursday and another 5 cents on Friday to end the week. The gains and losses left the closing statewide average at $9.08 on Friday (Figure 2). The Friday market closing price represented an overall 7 cent loss from the previous Friday closing average. High daily individual market price of the past week was $9.41 on Wednesday at West Memphis. Low quote of the week was $8.98 on Friday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $8.98 at Jonesboro, Wheatley, and Des Arc to a high of $9.29 at West Memphis. The ending quotes represented a range of 31 cents, a 14 cent widening from the previous Friday closing range. The market ended the week with eight locations submitting price quotes as Little Rock resumed reporting on Thursday.
(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.)