The Arkansas cash soybean market dropped 22 cents over the weekend to open the week at $13.53 and lost another 39 cents from Monday to Tuesday (Figure 1). Trading the remainder of the week was mainly sideways toward a Friday closing price of $13.17, a loss of 58 cents from the previous Friday close. High individual market daily average for the week was $13.72 on Monday at both Blytheville and Osceola. West Memphis and Helena both reported $13.68 on the same day. The lowest individual market daily average was on Tuesday as the market fell under the $13.00 level with $12.94 reported at both Jonesboro and Wheatley. The uncertain price pattern of the remaining trading days left Jonesboro as the only state market closing the week under $13.00 with a Friday price of $12.96.
Forward booking prices for 2011 crop beans fell less than the old crop market with a 16 cent drop to open on Monday at $13.50 (Figure 2). Price fell another 36 cents from Monday to Tuesday before somewhat leveling off for the remainder of the week toward a Friday close at $13.10, an overall 56 cent loss from the previous Friday closing mark. West Memphis was easily the highest individual market quote of the week at $13.72 on Monday. Lowest daily price quote of the week came from Augusta on Friday with a price of $12.92. Three other markets fell below $13.00 to close the week. The price margin premium on cash market old crop beans over new crop booking prices narrowed for the sixth straight week to a 7 cent price interval.
(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.)