By Bob Stark, Agricultural Economist
Another short week of reporting for the Arkansas 2019 New Crop Soybean Cash Market as USDA-NASS announced no reports for Thursday and Friday of this past trading week. The market opened the week stronger, up 6 cents from the previous Friday closing price. A 1 cent further gain on Tuesday was followed by losses on Wednesday as the market gave back all of its gains to finish lower for the week (Figure 1). The market opened on Monday at $9.25, an 11 cent improvement over the previous week opening day of trade. The Wednesday losses left the statewide average at a $9.17 closing price, 2 cents under the previous week close. High daily individual market quote of the past week was $9.50 on Monday at Osceola. Low quote of the week was $8.93 on Wednesday at Wynne, one of two markets ending the week under $9.00. End-of-the-week quotes saw Wednesday prices ranging from the low of $8.93 at Wynne to a high of $9.42 at Blytheville. The ending quotes range was 49 cents, 19 cents narrower than the previous week. The market ended the past week receiving price quotes 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.)