Forward booking prices for 2011 crop beans lost ground more severely over the weekend than the cash market with a 9 cent retreat. The statewide average on Monday was $13.22. Price climbed steadily each day, reaching its weekly high on Thursday at $13.73. A mild 6 cent decline was seen on Friday, much less severe than in the cash market. The decline left forward booked beans at $13.67, an overall 36 cent gain over the prior Friday closing mark. West Memphis had the highest individual market quote of the week at $13.94 on Thursday. No other individual market exceeded $13.86 during the entire week. The lowest price of the week was $13.02 at Wynne on Monday with Augusta posting $13.03. The price margin premium on cash market old crop beans over new crop booking prices narrowed for the fourth straight week, but the change was only one cent and left the price interval at 13 cents.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)