By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market started the past trading week strongly with a weekend price gain of 17 cents. Price then fluctuated up and down each trading day of the past week and finished overall lower (Figure 1). The market opened on Monday at $8.89, 56 cents over the previous week opening day price, and finished the week at $8.79, still an overall gain of 7 cents compared to the closing price of the previous week. High daily individual market price of the past week was $9.34 at Osceola on Thursday. Low quote for the week occurred on both Wednesday and Friday with an $8.45 quote from Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $8.45 at Wynne to a high of $9.21 at Osceola. The ending quotes represented a range of 76 cents, unchanged from the closing range of the previous week.
The Arkansas 2019 New Crop Soybean Booking Market moved closely with old crop beans. New crop beans gained 15 cents over the weekend prior to the past week and opened with a statewide average of $9.03 on Monday, the first daily statewide average over $9.00 since April 4. The market held the gain on Tuesday, declined Wednesday followed by a full recovery of its losses on Thursday, and then declined again on Friday to its weekly low (Figure 2). The market finished the week at $8.92, still a 4 cent gain above the average ending price of the previous week. High daily individual market quote of the past week was $9.22 on both Monday and Tuesday at Osceola. The price range between high and low decreased. Low quote of the week was $8.74 on Friday at Wynne. End-of-the-week quotes saw the closing day prices ranging from the low of $8.74 at Wynne to a high of $9.10 at Osceola. The 36 cent ending quotes range was unchanged 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.)