By Bob Stark, Agricultural Economist
The Arkansas 2019 New Crop Soybean Cash Market had a short report for the second straight week as USDA-AMS observed the Columbus Day holiday on Monday. The extended weekend saw 2019 soybeans gain 17 cents and the market recovered from a Wednesday price correction to end the week posting solid gains each trading day (Figure 1). 2019 crop beans opened the past week above the $9.00 level at $9.08 on Tuesday, a 28 cent improvement over the previous week opening day price. Trading during the week eventually lifted price to a Friday closing statewide average of $9.12, a 21 cent gain over the previous week closing level. High daily individual market quote of the past week was $9.36 on Friday at Osceola. Low quote of the week was $8.83 on Wednesday at Des Arc. End-of-the-week quotes saw Friday prices ranging from a low of $8.92 at Wynne to the high of $9.36 at Osceola. The ending quotes range was 44 cents, 8 cents wider than 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.)