By Bob Stark, Agricultural Economist and Jeremy Ross, Professor and Extension Agronomist – Soybeans
The 2020 crop soybean market did not have a report on Monday of the past week as the market observed the Columbus Day holiday. A major loss over the extended weekend was almost regained with two straight days of price increases before the market declined again on Friday to end the week (Figure 1). Price fell 23 cents over the holiday extended weekend and opened on Tuesday at an opening statewide average of $10.47, still 23 cents above the previous week opening day price. Daily gains of 12 and 6 cents carried price to its high daily average of $10.65 on Thursday. The Friday decline left the closing statewide average at $10.53, an overall 17 cent loss for the week when compared to the previous week closing day average. High individual market daily price for the past week was $10.82 at West Memphis on Thursday. The low individual daily price was $10.20 at Jonesboro on Monday as all individual daily market price quotes of the week exceeded $10.00. Closing price quotes on Friday ranged from a low of $10.26 at Jonesboro to a high of $10.72 at Osceola. The range of 46 cents was 1 cent narrower than the previous week price span.
(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.)