By Bob Stark, Agricultural Economist and Jeremy Ross, Assistant Professor/Extension Agronomist – Soybean
The Arkansas 2019 Crop Soybean Cash Market suffered a 22 cent loss over the weekend and opened on Monday at $8.64. A 7 cent price recovery on Tuesday quickly disappeared with daily losses posted for the remainder of the week (Figure 1). The Arkansas 2019 Crop Soybean Cash Market rose to $8.71 on Tuesday, but the downward trend for each subsequent day took price to a Friday closing statewide average of $8.44, a 42 cent decline from the previous week closing average. High daily individual market quote of the past week was $8.97 on both Tuesday and Wednesday at Osceola. Low quote of the week was $8.14 at Wynne on Friday. End-of-the-week quotes saw prices ranging from the low of $8.14 at Wynne to a high of $8.72 at Osceola. The ending quotes range was 58 cents, 1 cent wider than the previous week. The market received price quotes from twelve locations each trading day of the past week.
The Arkansas 2020 Crop Soybean Booking Market moved very similar to the old crop market with a 20 cent weekend loss, a modest climb on Tuesday, and subsequent declines each remaining day of trade (Figure 2). The market opened on Monday at a statewide average of $8.76. Price rose to $8.81 on Tuesday, but the daily slide downward took the market to a Friday closing statewide average of $8.53, 43 cents under the previous week closing mark. High daily individual market quote of the past week was $9.03 on Tuesday at Osceola. Low quote of the week was $8.15 on Friday at Wynne. End-of-the-week quotes saw the early closing day prices ranging from the low of $8.15 at Wynne to an $8.73 high at Helena. The ending price quotes represented a range of 58 cents, 3 cents narrower 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.)