By Bob Stark, Agricultural Economist
The Arkansas 2018 Crop Soybean Market had a shortened trading week as USDA-NASS announced that it would not be publishing the Arkansas Daily Grain Report on either Thursday or Friday. The old crop corn market opened the past week of trading with a loss of 1 cent over the weekend. Market price movement was generally steady over the short week, trading within a 2 cent span (Figure 1). The market opened on Monday at $8.31, 41 cents under the previous week opening day price. Price ended the short week of trading on Wednesday at a closing statewide daily average of $8.38, just 2 cents under the closing price of the previous week. High daily individual market price of the week was $8.47 at West Memphis on Monday. Low quote for the week occurred on Tuesday with an $8.28 quote from Little Rock. End-of-the-week quotes saw Wednesday closing day prices based on three markets. The low price was $8.29 at Little Rock and the high was $8.43 at West Memphis. The ending quotes range of 14 cents should probably not be compared to previous week ranges due to the limited number of reporting markets.
The Arkansas 2019 New Crop Soybean Booking Market again covered only three trading days as USDA-NASS announced that it would not be publishing the Arkansas Daily Grain Report on either Thursday or Friday of the current week. New crop beans were unchanged over the past weekend and opened with a statewide average of $8.37 on Monday, 38 cents under the previous week opening statewide average. Price moved 5 cents lower on Tuesday before regaining 1 cent on Wednesday to end the week (Figure 2). The market finished the week on Wednesday at $8.33, a 4 cent decline from the average ending price of the previous week. High daily individual market quote of the past week was $8.60 on Monday at Blytheville. Low quote of the week was $8.12 on Tuesday at Wynne. End-of-the-week quotes saw the closing day prices ranging from a low of $8.13 at Wynne to a high of $8.45 at Helena. The 32 cent ending quotes range was 13 cent narrower than the closing day ending range of the previous week. The market received price quotes each day of the past week from eleven locations.
(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.)