By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market started the past trading week with a modest weekend price gain of 3 cents and built on that gain each trading day of the past week. The market opened on Monday at $8.33, 12 cents under the previous week opening day price, and finished the week at $8.72, an overall gain of 42 cents compared to the closing price of the previous week (Figure 1). High daily individual market price of the past week was $9.15 at Osceola on Friday. Low quote for the week occurred on both Monday and Tuesday with an $8.01 quote from Wynne. End-of-the-week quotes saw the closing day prices ranging from a low of $8.39 at Wynne to the high of $9.15 at Osceola. The ending quotes represented a range of 76 cents, 6 cents wider than the closing range of the previous week.
The Arkansas 2019 New Crop Soybean Booking Market followed the old crop market quite closely over the past week. New crop beans gained 3 cents over the weekend prior to the past week and opened with a statewide average of $8.48 on Monday. The market followed that with additional gains on each trading day of the past week, reaching $8.88 on Friday (Figure 2). The market finished the week 43 cents above the average ending price of the previous week. High daily individual market quote of the past week was $9.06 at both Osceola and Blytheville on Friday. Low quote of the week was $8.32 on Monday at Wynne. End-of-the-week quotes saw the closing day prices ranging from a low of $8.70 at Wynne to a high of $9.06 at both Osceola and Blytheville. The 36 cent ending quotes range represented a widening of 5 cents from 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.)