By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market lost 5 cents over the weekend prior to the past trading week, but then posted daily gains on each trading day of the week (Figure 1). The market opened on Monday at a statewide average of $8.56, a decline of 21 cents from the previous week opening day price. The market reached a Friday closing statewide average of $8.76, 15 cents above the prior week’s closing price. High daily individual market price of the past week was $9.04 at Blytheville on Friday, the only day that market provided a price quote. Low quote for the week was $8.22 on Monday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.41 at Wynne to the high of $9.04 at Blytheville. The ending quotes represented a range of 63 cents, 10 cents wider than the previous week closing range. This range change was obviously influenced by the entrance of Blytheville with a price quote that exceeded the next highest market by 11 cents. Ten markets finished the week submitting price quotes. Osceola provided quotes during the entire past trading week before being absent on Friday.
The Arkansas 2019 New Crop Soybean Booking Market lost 6 cents over the past weekend and opened trading on Monday at a statewide average of $8.88 per bushel, the first daily average under $9.00 in 2019. Price rose on both Tuesday and Wednesday before retreating on Thursday. The market regained its strength on Friday to finish above the $9.00 level (Figure 2). The Friday statewide average was $9.04, an overall gain of 10 cents compared to the last trading day of the previous week. High daily individual market quote of the past week was $9.22 on Friday at Blytheville. Low quote of the week was $8.72 on Monday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.89 at Wynne to the high of $9.22 at Blytheville. The ending quotes represented a range of 33 cents, 3 cents narrower than 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 resumed on Friday and both Helena and Osceola ceased reporting.
(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.)