By Bob Stark, Agricultural Economist and Jeremy Ross, Professor and Extension Agronomist – Soybeans
The 2020 crop soybean market overcame a 6 cent weekend decline to post gains throughout the past week before suffering a relatively minor correction in Friday closing trade (Figure 1). Price opened on the past Monday at a statewide average of $10.55, giving up 35 cents from the previous week opening day price and offsetting the 33 cent gain of the previous weekend. Double digit gains on Tuesday through Thursday carried price to a daily average peak of an even $11.00 on Thursday. The Friday price correction was a loss of 4 cents to put the closing statewide average at $10.96, an overall 35 cent gain for the week as compared to the previous week closing day average. High individual market daily price for the past week reached $11.24 at Helena on Thursday. The low individual daily price was $10.28 at Jonesboro on Monday. Twelve markets provided quotes for each trading day as Wynne resumed reporting. Osceola submitted one report on Friday, its first since October 28. Closing price quotes on Friday ranged from a low of $10.78 at Jonesboro, one of only two markets finishing under $11.00, to a high of $11.20 at Blytheville. The range of 42 cents was 20 cents narrower than the previous week’s price span, due in part to the resumption of reports from Wynne, a historically lower price market.
(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.)