By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market had an extended weekend prior to the past trading week in observance of the Martin Luther King Holiday. Price fell 8 cents over the extended weekend from the previous week Friday closing statewide average, but regained 7 cents on the following day and had added gains on each subsequent day of the short week (Figure 1). The market opened on Tuesday at a statewide average of $8.69. Gains of 7, 1, and 10 cents carried the market to a weekly high on Friday of $8.87, an overall gain of 10 cents compared to the prior week’s last report on Friday. High daily individual market price of the past week was $9.01 at both Helena and Osceola on Friday. Low quote for the week was $8.37 on Tuesday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.53 at Wynne to the high of $9.01 at both Helena and Osceola. The ending quotes represented a range of 48 cents, unchanged from the previous Friday range. Twelve markets continued to submit price quotes each day of the short week.
The Arkansas 2019 New Crop Soybean Booking Market had an easier extended weekend than the old crop market as new soybeans lost only 6 cents. Price opened trading on Tuesday at a statewide average of $9.08 per bushel. The market more than regained its losses on Wednesday and held the gain Thursday before adding an additional 8 cent gain on Friday to close out the week (Figure 2). The market closed trading for the week with a Friday closing average of $9.23, an overall 9 cent gain from the previous Friday close. High daily individual market quote of the past week was $9.39 on Friday at both Helena and Osceola. Low quote of the week was $8.97 on Tuesday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.11 at Jonesboro, Wheatley, and Des Arc to the high of $9.39 at Osceola and Helena. The ending quotes represented a range of 28 cents, unchanged from the ending range of the previous Friday. The market continued to receive price quotes each day from ten locations across the state.
(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.)