By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market lost 3 cents over the weekend prior to the past trading week and sank lower on Tuesday before rallying midweek. Trading ended the week on a down note with the market losing all of its gains for the week and more in the Friday closing trade (Figure 1). The market opened on Monday at a statewide average of $8.73, a margin of 17 cents over the previous week opening day price. The market lost 2 cents on Tuesday, but eventually reached a high for the week of $8.79 on Thursday. Price fell 8 cents on Friday to a closing statewide average of $8.71, 5 cents under the prior week’s closing price. High daily individual market price of the past week was $9.06 at Blytheville on Thursday. Low quote for the week was $8.36 on Tuesday 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 $8.99 at Blytheville. The ending quotes represented a range of 63 cents, unchanged from the previous week closing range. Two markets were added to the reporting group this week as Old Town/Elaine and Osceola resumed providing price quotes. Twelve markets finished the week submitting price quotes.
The Arkansas 2019 New Crop Soybean Booking Market lost 4 cents over the past weekend and opened trading on Monday at a statewide average of an even $9.00 per bushel. Price lost 1 cent on Tuesday before entering two days of rises. The gains were ended on Friday as price fell 7 cents to finish at an even $9.00 statewide average (Figure 2). The Friday closing mark left the market with an overall loss of 4 cents compared to the last trading day of the previous week. High daily individual market quote of the past week was $9.24 on Thursday at Blytheville. Low quote of the week was $8.84 on Tuesday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from a low of $8.84 at Wynne to a high of $9.17 at Blytheville. The ending quotes represented a range of 33 cents, unchanged from the ending range of the previous week closing day. The market closed the week receiving price quotes from thirteen locations across the state as Helena, Old Town/Elaine, and Osceola resumed providing quotes.
(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.)