The last full week of May trading on 2010 crop Arkansas cash market prices saw a 7 cent decline over the weekend to open at $13.60 on Monday followed by a week of strength, but no prominent gains (Figure 1, below). The statewide average price had some mid-week gains, reaching $13.72 on Wednesday, before declining on Friday to $13.68, a gain of 1 cent from the previous week close. Highest reported individual market daily average for the current week was $13.98 on Thursday at both Osceola and Blytheville. No individual market high reached the $14.00 level for the third straight week. The lowest individual market daily average was on Monday with both Jonesboro and Wheatley at $13.38. The last day of trading found all Arkansas reporting markets between $13.44 and $13.93 to close the week, exactly the same range as the previous week.
Forward booking prices for 2011 crop beans did not suffer a weekend decline similar to the old crop market, opening on Monday at the same $13.22 level where they closed the previous week (Figure 2, below). Forward booking price rose steadily each successive day for most of the trading week, reaching a high of $13.44 on Thursday, before slipping to $13.40 on Friday. The closing mark represented an 18 cent improvement from the previous Friday closing mark. West Memphis topped the individual market quotes at $13.65 on Thursday. No other market exceeded $13.55. Lowest daily price quote of the week came on Monday at Augusta with a price of $13.02 with Jonesboro reporting $13.06 on the same day. The price margin premium on cash market old crop beans over new crop booking prices narrowed dramatically to a difference of 28 cents, a 17 cent decrease 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.)