The first full week of June trading found the 2010 crop Arkansas cash market price falling 32 cents over the weekend from its previous Friday close to open at $13.77 on Monday (Figure 1, below). The statewide average price rose to a midweek high of $13.96 on Wednesday before declining daily to a Friday closing mark of $13.81, a loss of 28 cents from the previous week close. Highest reported individual market daily average for the current week was $14.19 on Wednesday at both Osceola and Blytheville. West Memphis followed closely on that day at $14.16. Lowest individual market daily average was on Monday with both Jonesboro and Wheatley at $13.59. No other daily averages under $13.63 occurred in the week. The last trading day found all Arkansas reporting markets between $13.63 and $14.04 to close the week, the same 41 cent range as the prior week.
Forward booking prices for 2011 crop beans lost 24 cents over the weekend, opening on Monday at $13.44 (Figure 2, below). Forward booking price rose steadily to a midweek high of $13.63 before declining over the remaining trading days to a closing mark of $13.52 on Friday. The closing mark represented a 16 cent drop from the previous Friday closing mark. West Memphis topped the individual market quotes at $13.78 on Wednesday. Five other markets also reported prices at or above the $13.70 price level on Wednesday. Lowest daily price quote of the week came on Monday at Augusta with a price of $13.25. Jonesboro had the only other individual market price under $13.30 for the week with a daily average of $13.28 on that same day. The price margin premium on cash market old crop beans over new crop booking prices narrowed to 29 cents, a 12 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.)