By Bob Stark, Agricultural Economist
The old crop cash soybean market suffered a generally lower trend for the past week after posting a modest gain over the weekend (Figure 1). Price during the past week opened on Monday at $8.58 and moved lower for three of the remaining trading days. The closing statewide average on Friday was $8.43, a decline of 13 cents from the previous week closing price. High daily individual market price of the week was $8.65 at both Helena and Osceola on Monday. The low quote for the week occurred on Friday with an $8.29 quote from Pine Bluff. End-of-the-week quotes saw Friday closing day prices based on seven markets as Blytheville resumed providing quotes. The closing day price range extended from the low of $8.29 at both Pine Bluff to a high of $8.53 at Osceola. The ending quotes range of 24 cents was 1 cent narrower than that of the previous week.
The Arkansas 2019 New Crop Soybean Booking Market exceeded the old crop price decline with daily losses on three of the five trading days and an overall loss of 19 cents for the week (Figure 2). New crop beans opened with a statewide average of $8.54 on Monday, a 39 cent improvement from the previous week opening price, but then entered into a decline that took price to a Friday closing average of $8.35, a 14 cent gain from the previous Friday price (Figure 2). High daily individual market quote of the past week was $8.84 on Monday at Blytheville. Low quote of the week was $8.18 on Friday at Pine Bluff. End-of-the-week quotes saw the closing day prices ranging from the low of $8.18 at Pine Bluff to a high of $8.51 at Osceola. The ending quotes range was 33 cents wide, an expansion of 1 cent from the previous week. The market again 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.)