By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market fell 10 cents over the weekend prior to the past trading week, but resurged 13 cents higher on Tuesday. The gain was held steady until losing it all on Thursday. A 5 cent gain on Friday failed to lift the market to its previous week ending level (Figure 1). The market opened on Monday at a statewide average of $8.71, 10 cents under the previous Monday opening price. Price climbed to $8.84 on Tuesday and held the gain through Wednesday. A 13 cent Thursday loss removed all of the gains of Tuesday. The 5 cent improvement on Friday took the closing statewide average to $8.76, 5 cents over Monday and an overall 5 cent loss from the prior week’s last report on Friday. High daily individual market price of the past week was $9.00 at Helena on Tuesday and West Memphis on Wednesday. Low quote for the week was $8.32 on Thursday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.36 at Wynne to a high of $8.98 at West Memphis. The ending quotes represented a range of 62 cents, 9 cents wider than the previous Friday range. Twelve markets submitted price quotes for the week.
The Arkansas 2019 New Crop Soybean Booking Market fell 8 cents over the weekend preceding the past week of trading and opened trading on Monday at a statewide average of $9.08 per bushel. The market moved higher on Tuesday before declining three days in a row midweek. Price reversed course on Friday with a 4 cent gain, but the finish left it lower overall for the week (Figure 2). The market closed trading with a Friday closing average of $9.11, a 5 cent decline from the previous Friday close. High daily individual market quote of the past week was $9.32 on Tuesday at West Memphis. Low quote of the week was $8.95 on Thursday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.99 at Jonesboro, Wheatley, and Des Arc to a high of $9.27 at West Memphis. The ending quotes represented a range of 28 cents, unchanged for the third 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.)