The Arkansas cash market price on the 2010 crop lost 2 cents over the weekend to open at $13.13 on Monday, but it then proceeded to post sizeable gains on both Tuesday and Wednesday before going flat to finish the remainder of the trading week (Figure 1). The statewide average price finished the week at $13.67 on Friday, a gain of 52 cents from the previous week close. An unusual aspect of the week was the identical average price on the Wednesday, Thursday, and Friday closing quotes. Highest reported individual market daily average for the current week was $13.93 on each of these days at both Osceola and Blytheville. This was the second straight week with no individual market high reaching the $14.00 level. The lowest individual market daily average was on Monday with $12.91 reported at both Jonesboro and Wheatley. The last day of trading found all Arkansas reporting markets between $13.44 and $13.93 to close the week.
Forward booking prices for 2011 crop beans saw more weekend movement than the old crop market, losing 5 cents over the weekend to open on Monday at $12.77 (Figure 2). Forward booking price got a similar, but less forceful “price updraft” through Wednesday before also going flat to slightly lower and closing at $13.22 on Friday. The closing mark did represent a 40 cent improvement from the previous Friday closing mark. West Memphis topped the individual market quotes at $13.45 on Wednesday. No other market exceeded $13.34. Lowest daily price quote of the week came on Monday at Augusta with a price of $12.57. The price margin premium on cash market old crop beans over new crop booking prices widened for the second straight week to a difference of 45 cents, a 12 cent increase in the interval from the previous weekly closing prices.
(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.)