By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market rose 3 cents over the weekend prior to the past trading week and added 2 more cents on Tuesday, but eventually turned lower through the remainder of the week (Figure 1). The market opened on Monday at a statewide average of $8.77, a loss of 5 cents compared to the previous week opening day of trade. Price rose to $8.79 on Tuesday, but then declined to a Friday closing statewide average of $8.61, the lowest daily statewide average since January 16 and 13 cents under the prior week’s closing price. High daily individual market price of the past week was $9.01 at West Memphis and Osceola on Monday. Low quote for the week was $8.28 on Friday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $8.28 at Wynne to a high of $8.81 at both West Memphis and Osceola. The ending quotes represented a range of 53 cents, unchanged from the previous week closing range. Ten markets submitted price quotes through the entire week. Helena provided no quotes during the past trading week.
The Arkansas 2019 New Crop Soybean Booking Market rose 5 cents over the past weekend and opened trading on Monday at a statewide average of $9.12 per bushel. The market was steady on Tuesday, but then moved to a lower level on Wednesday and a still lower price on Friday (Figure 2). The Friday statewide average was $8.94, an overall loss of 13 cents compared to the last trading day of the previous week. High daily individual market quote of the past week was $9.33 on Monday at West Memphis. Low quote of the week was $8.77 on Friday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $8.77 at Wynne to a high of $9.13 at West Memphis. The ending quotes represented a range of 36 cents, 2 cents wider than the ending range of the previous week closing day. The market received price quotes from twelve locations across the state on each day of the past week.
(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.)