By Bob Stark, Agricultural Economist and Jeremy Ross, Professor and Extension Agronomist – Soybeans
The 2020 crop soybean market posted a 4 cent gain over the weekend and added increasingly larger gains each trading day of the week (Figure 1). Price opened on Monday at a statewide average of $10.57, a margin of 10 cents above the previous week opening day price. Daily gains were 9 and 10 cents, respectively, on Tuesday and Wednesday. No USDA-AMS report was published on Thursday, but Friday trading had a 12 cent gain to place the closing statewide average at $10.88, an overall 35 cent gain for the week when compared to the previous week closing day average. High individual market daily price for the past week exceeded the $11.00 level for the first time with $11.09 reported at West Memphis on Friday. The low individual daily price was $10.30 at Jonesboro on Monday. Closing price quotes on Friday ranged from a low of $10.60 at Jonesboro to the high of $11.09 at West Memphis. The range of 49 cents was 3 cents wider 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.)