By Bob Stark, Agricultural Economist and Jeremy Ross, Assistant Professor/Extension Agronomist – Soybean
The Arkansas 2019 Crop Soybean Cash Market absorbed a 3 cent loss over the extended President’s Day holiday weekend, but a Wednesday upward correction could not be sustained and price fell over the last half of the past trading week (Figure 1). The Arkansas 2019 Crop Soybean Cash Market opened the past week on Tuesday at a statewide average of $8.90, 12 cents above the previous week opening price, but 3 cents under the previous week close. Price moved 5 cents higher on Wednesday, but then fell on both Thursday and Friday to end the week. The closing statewide average on Friday stood at $8.89, an overall decline of 4 cents from the previous week closing average. High daily individual market quote of the past week was $9.27 on Wednesday at Osceola. Low quote of the week was $8.51 at Wynne on Friday. End-of-the-week quotes saw prices ranging from the low of $8.51 at Wynne to a high of $9.21 at Osceola. The ending quotes range was 70 cents, 2 cents wider than the previous week. The market received price quotes from twelve locations each trading day of the past week.
The extended weekend due to Presidents’ Day saw the Arkansas 2020 Crop Soybean Booking Market move 3 cents lower. The market partially recovered its losses on Wednesday, but fell further on Thursday before steadying to end the week (Figure 2). The market opened on Tuesday at a statewide average of $9.10, 7 cents over the previous week opening day average. Price rose to $9.12 on Wednesday before moving lower on Thursday and closing Friday at a statewide average of $9.07, 6 cents under the previous week closing mark. High daily individual market quote of the shortened past week was $9.33 on Wednesday at both West Memphis and Helena. Low quote of the week was $8.68 on both Thursday and Friday at Wynne. End-of-the-week quotes saw the early closing day prices ranging from the low of $8.68 at Wynne to a high of $9.28 at Helena. The ending price quotes represented a range of 60 cents, unchanged from 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.)