By Bob Stark, Agricultural Economist and Jeremy Ross, Assistant Professor/Extension Agronomist – Soybean
The Arkansas 2019 Crop Soybean Cash Market had a 7 cent gain over the weekend and continued to build on that gain through Wednesday before giving back its early week gains (Figure 1). The Arkansas 2019 Crop Soybean Cash Market opened the past week on Monday at a statewide average of $8.86, 13 cents above the previous week opening price. Price continued to rise, eventually reaching $9.02 on Wednesday. The market then gave back those gains to close on Friday at a statewide average of $8.86, still an overall 7 cent improvement over the previous week closing average. High daily individual market quote of the past week was $9.29 on Wednesday at Helena. Low quote of the week was $8.56 at Wynne on Friday. End-of-the-week quotes saw prices ranging from the low of $8.56 at Wynne to a high of $9.13 at Helena. The ending quotes range was 57 cents, 12 cents narrower than the previous week. The market received price quotes from twelve locations on most trading days of the past week.
The Arkansas 2020 Crop Soybean Booking Market moved similar to the old crop market with a 5 cent weekend gain, a climb early in the week, and a decline to close out trading (Figure 2). The market opened on Monday at an opening statewide average of $9.08. Price rose to a peak of $9.09 on Tuesday, but began to slide downward to a Friday closing statewide average of $8.96, 7 cents under the previous week closing mark. High daily individual market quote of the past week was $9.29 on Tuesday at West Memphis and Helena. Osceola also reported a $9.29 quote, but it was on Wednesday. Low quote of the week was $8.56 on Friday at Wynne. End-of-the-week quotes saw the early closing day prices ranging from the low of $8.56 at Wynne to a $9.17 high at Osceola. The ending price quotes represented a range of 61 cents, 1 cent 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.)