The immediate past trading week was cut one day short by Good Friday. Arkansas cash soybean market price gained 12 cents over the weekend to open the week at $13.29 (Figure 1). Trading remained steady on Tuesday before initiating a sharp rally to close the shortened week at a Thursday closing price of $13.66, a gain of 49 cents from the previous Friday close. High individual market daily average for the week was $13.89 on Thursday at both Blytheville and Osceola. West Memphis and Helena both reported $13.80 on the same day. The lowest individual market daily average was on Tuesday with $13.06 reported at both Jonesboro and Wheatley. The improved prices left all Arkansas reporting markets between $13.45 and $13.89 to close the week.
Forward booking prices for 2011 crop beans moved 10 cents higher over the weekend to open on Monday at $13.20 and then posted increasingly larger daily gains throughout the abbreviated trading week (Figure 2). Forward booking price eventually reached $13.54 on Thursday to close the week 44 cents over the previous Friday closing mark. West Memphis continued to lead the price parade with an individual market quote of $13.75 on Thursday. No other market exceeded $13.64. Lowest daily price quote of the week came from Augusta on Monday with a price of $13.01. Three other markets opened below $13.10 to start the week. The price margin premium on cash market old crop beans over new crop booking prices finally turned after six straight weeks of narrowing to establish a 12 cent price interval, 5 cents larger than the previous weekly close.
(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.)