By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market remained steady over the weekend prior to the past trading week and price could post a gain on only one day before falling to close the week (Figure 1). The market opened on Monday at a statewide average of $8.62, 3 cents above the previous week opening day price. The market held steady on Tuesday before rising 3 cents on Wednesday for its only gain of the week. Price gave 8 cents back on Thursday and closed steady on Friday at a statewide average of $8.57, a loss of 5 cents from the prior week’s closing price. High daily individual market price of the past week was $8.83 at Osceola on Wednesday, the second straight week without a $9.00 or above individual market daily report. Low quote for the week was $8.27 on both Thursday and Friday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $8.27 at Wynne to a high of $8.76 at Osceola. The ending quotes represented a range of 49 cents, unchanged from the closing range of the previous week. Ten markets continued to provide quotes throughout the week.
The Arkansas 2019 New Crop Soybean Booking Market held steady over the past weekend and opened trading on Monday at a statewide average of $8.95 per bushel, 5 cents above the previous week opening price (Figure 2). The market stayed within a 3 cent range through Wednesday before moving sharply lower on Thursday. The Friday closing price was $8.90, an overall loss of 5 cents compared to the last trading day of the previous week. High daily individual market quote of the past week was $9.11 on Wednesday at Osceola. Low quote of the week was $8.74 on both Thursday and Friday at Wynne. End-of-the-week quotes saw the Friday closing day prices ranging from the low of $8.74 at Wynne to a high of $9.04 at Osceola. The ending quotes represented a range of 30 cents, unchanged compared to the closing day ending range of the previous week. The market continued to receive price quotes from thirteen locations across the state each day.
(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.)