By Bob Stark, Agricultural Economist and Jeremy Ross,
Assistant Professor/Extension Agronomist – Soybean
USDA-AMS will not be publishing an Arkansas Daily Grain Report on this Friday or the following Monday. The Arkansas 2019 Crop Soybean Cash Market opened the past week of trading 13 cents above the previous week opening price and 2 cents higher compared to the previous week close. Price moved 1 cent higher on Tuesday, but then posted solid gains on the remaining trading days (Figure 1). The 2019 crop market opened the week on Monday with a statewide average of $8.78. The gains on Tuesday through Thursday carried price to a statewide average of $8.93, an overall gain of 17 cents from the previous Friday average. High daily individual market quote of the past week was $9.24 on Thursday at Osceola. Low quote of the week was $8.44 at Wynne on Monday. End-of-the-week quotes saw Thursday prices ranging from a low of $8.56 at Wynne to the high of $9.24 at Osceola. The ending quotes range was 68 cents, 7 cents wider than the previous week. The market received price quotes from twelve locations each trading day of the past week.
USDA-AMS will not publish an Arkansas Daily Grain Report on this Friday or the coming Monday of next week. The Arkansas 2020 Crop Soybean Booking Market moved less sharply than the 2019 old crop market through the short week of trading although the basic pattern of price movement was similar (Figure 2). The market gained 1 cent over the weekend and opened on Monday at a statewide average of $9.03, 3 cents over the previous week opening day average and 1 cent above the previous week closing price. Price held steady on Tuesday before climbing higher on both Wednesday and Thursday. The market ended the short week of trading on Thursday at a statewide average of $9.13, 11 cents over the previous Friday closing mark. High daily individual market quote of the past week was $9.34 on Thursday at both West Memphis and Helena. Low quote of the week was $8.69 on Monday at Wynne. End-of-the-week quotes saw the early closing day prices ranging from a low of $8.74 at Wynne to the high of $9.34 at both West Memphis and Helena. The ending price quotes represented a range of 60 cents, 5 cents wider than the previous week closing range. The market received price quotes from thirteen major locations across the state for all reporting days of the past week.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by USDA-AMS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)