By Bob Stark, Agricultural Economist
Market information was limited for both Arkansas soybean markets as USDA-AMS observed Presidents’ Day holiday on Monday and no report was published on Friday. The Arkansas 2018 Crop Soybean Market fell 7 cents over the extended weekend prior to the past trading week, but steadied itself on Wednesday before moving higher to an overall gain for the abbreviated week (Figure 1). The market opened on Tuesday at a statewide average of $8.69, 2 cents under the previous week opening day of trade. Price remained steady on Wednesday before climbing to $8.78 on Thursday to close the short week. The closing statewide average was 2 cents above the prior week’s closing price on Friday. High daily individual market price of the past week was $8.98 at Pine Bluff on Thursday. Low quote for the week was $8.29 on Tuesday at Wynne. End-of-the-week quotes saw the Thursday closing day prices ranging from a low of $8.39 at Wynne to the high of $8.98 at Pine Bluff. The ending quotes represented a range of 59 cents, 3 cents narrower than the previous week closing range. Only eleven markets submitted price quotes at the close of the week. Blytheville ceased submitting quotes after Tuesday.
The Arkansas 2019 New Crop Soybean Booking Market fell 6 cents over the extended weekend and opened trading on Tuesday at a statewide average of $9.05 per bushel. The market moved higher each subsequent day before closing on Thursday at a statewide average of $9.13, an overall gain of 2 cents for the short week (Figure 2). High daily individual market quote of the past week was $9.29 on Thursday at West Memphis. Low quote of the week was $8.93 on Tuesday at Jonesboro, Wheatley, and Des Arc. End-of-the-week quotes saw the Thursday closing day prices all above the $9.00 level, ranging from a low of $9.01 at Jonesboro, Wheatley, and Des Arc to the high of $9.29 at West Memphis. The ending quotes represented a range of 28 cents, unchanged for the fourth consecutive week from the ending range of the previous week closing day. The market ended the week receiving price quotes from ten locations across the state as Blytheville ceased providing quotes after Tuesday.
(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.)