By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market started strongly with a weekend price gain of 14 cents, but then stumbled unevenly lower through the short week of trading (Figure 1). USDA-AMS did not publish a state grain market report on Friday ahead of the Memorial Day holiday. The market opened on Monday at a statewide average of $8.08, 37 cents over the previous week opening day price. The market posted losses on Tuesday and Thursday around a Wednesday gain and closed the week on Thursday at a statewide average of $7.96. The closing price was 2 cents over the prior week’s closing price. High daily individual market price of the past week was $8.36 at Osceola on Wednesday. Low quote for the week occurred on Thursday with a $7.64 quote from Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $7.64 at Wynne to a high of $8.29 at Osceola. The ending quotes represented a range of 65 cents, 11 cents wider than the closing range of the previous week.
The Arkansas 2019 New Crop Soybean Booking Market gained 11 cents over the weekend prior to the past week, but then had an uneven pattern that moved price slightly lower (Figure 2). The market opened on Monday at a statewide average of $8.19, 32 cents over the previous week opening day price. Price suffered a 9 cent loss on Tuesday and a 7 cent loss on Thursday around a Wednesday gain of 6 cents. No report was published by USDA-AMS on Friday ahead of the Memorial Day holiday. Overall, the market gained one cent for the week and finished at a Thursday closing statewide average of $8.09. High daily individual market quote of the past week was $8.30 on Monday at both Blytheville and Osceola. Low quote of the week was $7.94 on Thursday at Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $7.94 at Wynne to a high of $8.19 at both Osceola and Blytheville. The ending quotes represented a range of 25 cents, 1 cent narrower than the closing day ending range of the previous week. The market continued to receive price quotes from all thirteen major 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.)