The past week of trading found the 2010 crop Arkansas cash market price losing 4 cents over the weekend from its previous Friday close to open at $13.77 on Monday (Figure 1, below). The statewide average price did not see a single day of gain for the entire week and eventually fell to a Friday closing mark of $13.29, a loss of 52 cents from the previous week close. Highest reported individual market daily average for the current week was an even $14.00 on Monday at both Osceola and Blytheville. West Memphis was the next highest on that day at $13.97. Lowest individual market daily average was on Friday with both Jonesboro and Wheatley at $13.09. The last trading day found all Arkansas reporting markets between $13.09 and $13.50 to close the week, the same 41 cent range as the prior two weeks.
Forward booking prices for 2011 crop beans lost 5 cents over the weekend, opening on Monday at $13.47 (Figure 2, below). Forward booking price was generally lower throughout the week with only a slight Wednesday recovery. Overall, the market fell 50 cents from the previous Friday close, ending the week at $13.02. The closing Friday mark was the lowest daily market average reported since May 17. West Memphis topped the individual market quotes at $13.62 on Monday with all other markets at least 5 cents behind. Lowest daily price quote of the week came on Friday at Augusta with a price of $12.84. Jonesboro had the next lowest individual market price at $12.88 on that same day. The price margin premium on cash market old crop beans over new crop booking prices narrowed slightly to 27 cents, a 2 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.)