By Bob Stark, Agricultural Economist and Jeremy Ross, Professor and Extension Agronomist – Soybeans
The 2020 crop soybean market fought through a week divided around the Veterans Day holiday on Wednesday to post a strong overall price gain (Figure 1). The market rose 2 cents over the weekend to open on Monday at a $10.98 statewide average. Price rose above the $11.00 level on Tuesday, reaching the high daily average for the week of $11.33. A 6 cent decline over the holiday was partially recovered on Friday as the market finished with a closing statewide average at $11.29, an overall 33 cent gain for the week as compared to the previous week closing day average. High individual market daily price for the past week was $11.46 at Pendleton on Tuesday. The low individual daily price was $10.81 at Pine Bluff on Monday. Thirteen markets provided quotes for each trading day in the past week. Closing price quotes on Friday ranged from a low of $11.13 at Pine Bluff to a high of $11.43 at Stuttgart. The range of 30 cents was 12 cents 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.)