UACES Facebook Arkansas Soybean Market Report for May 31 - June 4, 2021
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Arkansas Soybean Market Report for May 31 - June 4, 2021

by Bob Stark, Agricultural Economist and Jeremy Ross, Professor and Extension Agronomist - Soybean - June 7, 2021

2020 Crop Soybean Cash Market

The 2020 crop soybean market reversed its May weaker trend and move generally higher over the past shortened trading week.  The price opened with a solid gain after the long Memorial Day weekend, added to its gain on Wednesday, and overcame a Thursday price correction with its largest gain of the week on Friday (Figure 1).  The price rose 10 cents over the long weekend and opened on Tuesday at a statewide average of $15.41, a gain of 18 cents from the previous week opening price.  Wednesday trading added 19 cents and the Thursday correction of 13 cents just dropped price to a statewide average of $15.47.  The market roared upward on Friday with a rise of 34 cents that put the closing statewide average price at $15.81.  The Friday close represented an overall 50 cent gain from the previous week closing mark.  The high individual market daily price for the past week was $16.15 at Osceola on Friday.  The low individual daily price was $15.19 reported at Jonesboro on Tuesday.  Only six individual markets submitted price quotes each day of the week as Osceola was absent Tuesday, Wynne ceased reporting after Tuesday, and West Memphis was absent for the entire week.  The closing price quotes on Friday ranged from the high of $16.15 at Osceola to a low quote of $15.54 at Jonesboro.  The 61 cent range on Friday was 1 cent wider than the previous week on the last trading day.

Arkansas Soybean Fall 2020 Crop Cash Market Prices for May 31 - June 4, 2021

 

2021 Crop Soybean Booking Market

The Arkansas Soybean 2021 Crop Booking Market posted a solid gain over the extended holiday weekend, increased its gains on Wednesday, and even a Thursday price correction was fully overcome with a Friday gain that was the largest of the shortened week (Figure 2).  The new crop booking beans gained 24 cents over the extended weekend to open on Tuesday at $13.94, a considerable 32 cent increase from the previous week opening average.  The subsequent 17 cent gain on Wednesday was partially returned by a 10 cent correction on Thursday, but a Friday increase of 32 cents lifted the market to a closing statewide average of $14.33, an overal 63 cents increase over the previous week closing average.  The high individual daily market quote of the past week was $14.58 on Friday at West Memphis.  The low individual daily market quote was $13.69 at Jonesboro on Tuesday.  The closing booking price quotes on Friday ranged from a $14.08 low at Jonesboro to the $14.58 high at West Memphis.  The closing state range stood at an even 50 cents, unchanged from the previous week closing range.  Overall, market reporting remained solid with eleven major individual markets providing quotes each reported trading day.

Arkansas Soybean 2021 Crop Booking Market Prices for May 31 - June 4, 2021

(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.)

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