By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market moved sharply lower to open the past week before coming to a jerky stop as the week ended (Figure 1). Price rose 3 cents over the weekend prior to the past trading week, but then lost 14 and 5 cents, respectively, over the first two days of trading. The market opened on Monday at a statewide average of $8.44, 16 cents under the previous week opening day price. By Wednesday, the market had fallen to a statewide daily average of $8.25. A 5 cent recovery on Thursday was promptly given back on Friday as trading closed at a statewide average of $8.25, a 16 cent overall loss from the prior week’s early closing price. High daily individual market price of the past week was $8.65 at Osceola on Monday. Low quote for the week was $7.86 on Friday at Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $7.86 at Wynne to a high of $8.52 at Blytheville. The ending quotes represented a range of 66 cents, 17 cents wider than the closing ranges of the previous week. Twelve markets are currently providing quotes.
The Arkansas 2019 New Crop Soybean Booking Market matched old crop beans virtually cent for cent over the past trading week (Figure 2). Price rose 3 cents over the weekend, but then lost 14 cents and 7 cents on consecutive days. The market opened Monday at a statewide average of $8.71 per bushel, 22 cents under the previous week opening price. The Friday closing price stood at $8.47, an overall loss of 27 cents compared to the last trading day of the previous week. High daily individual market quote of the past week was $8.83 on Monday at Blytheville and Osceola. Low quote of the week was $8.34 on Friday at Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $8.34 at Wynne to a high of $8.60 at Osceola. The ending quotes represented a range of 26 cents, 4 cents narrower than 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.)