By Bob Stark, Agricultural Economist
This Soybean Notes market report was not published last week as USDA-NASS only published one report in that week. Price during the past week opened on Monday at $8.17 and, despite a Wednesday correction, held an upward trend throughout the week (Figure 1). The closing statewide average on Friday was $8.56, a gain of 39 cents from the Monday opening price. High daily individual market price of the week was $8.64 at both Helena and Osceola on Friday. The low quote for the week occurred on Monday with an $8.02 quote from Pine Bluff. End-of-the-week quotes saw Friday closing day prices based on six markets. The low closing day individual market price was $8.49 at both Little Rock and Old Town/Elaine. The high closing price was $8.64 at both Helena and Osceola. The ending quotes range was 25 cents.
The Arkansas 2019 New Crop Soybean Booking Market mirrored the old crop price pattern of a weeklong upward trend despite a Wednesday correction. New crop beans opened with a statewide average of $8.15 on Monday and rose to a Friday closing average of $8.49, a 34 cent gain for the week (Figure 2). High daily individual market quote of the past week was $8.64 on Friday at both Osceola and Helena. Low quote of the week was $7.93 on Monday at Pine Bluff, one of only two individual market daily quotes under $8.00. End-of-the-week quotes saw the closing day prices ranging from a low of $8.32 at Pine Bluff to the high of $8.64 at both Osceola and Helena. The ending quotes range was 32 cents wide. The market received price quotes each day of the past week from thirteen 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.)