By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market rose 3 cents over the weekend prior to the past trading week and continued to build through midweek before declining back to its Monday level to end the week (Figure 1). The market opened on Monday at a statewide average of $8.81, 5 cents under the previous Monday opening price. Price climbed higher for two consecutive days reaching $8.87 on Wednesday. A 7 cent Thursday loss removed all of the gains in the past week and a 1 cent improvement on Friday took the closing statewide average to $8.81, unchanged from Monday and an overall 3 cent gain from the prior week’s last report on Friday. High daily individual market price of the past week was $9.06 at Helena on Wednesday. Low quote for the week was $8.41 on Thursday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.43 at Wynne to a high of $8.96 at Blytheville. The ending quotes represented a range of 53 cents, 1 cent wider than the previous Friday range. Twelve markets submitted price quotes to end the week as West Memphis and Osceola resumed providing quotes.
The Arkansas 2019 New Crop Soybean Booking Market was unchanged over the weekend preceding the past week of trading and opened trading on Monday at a statewide average of $9.16 per bushel. The market moved higher on the next two days before falling 7 cents on Thursday. Price stabilized on Friday to end the week (Figure 2). The market closed trading for the week with a Friday closing average of $9.16, unchanged overall from the previous Friday close. High daily individual market quote of the past week was $9.38 on Wednesday at West Memphis and Helena. Low quote of the week was $9.03 on Thursday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $9.04 at Jonesboro, Wheatley, and Des Arc to a high of $9.32 at Helena. The ending quotes represented a range of 28 cents, unchanged for the second consecutive week from the ending range of the previous Friday. The market ended the week receiving price quotes from eleven 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.)