June trading is rapidly coming to an end and the 2010 crop Arkansas cash market price has generally begun to decline as alternative crops enter the market. The 2010 crop gained 3 cents over the weekend from its previous Friday close to open at $13.32 and added another 13 cents in Tuesday trading before moving lower for the week (Figure 1, below). The statewide average price closed on Friday at $13.16, a loss of 13 cents from the previous week close. Highest reported individual market daily average for the current week was $13.66 on Tuesday at both Osceola and Blytheville, the first week without a plus-$14.00 day since Memorial Day. Lowest individual market daily average was on Thursday with both Jonesboro and Wheatley at $12.94. This average was the first sub-$13.00 day since May 16. Last trading day quotes for all Arkansas reporting markets ranged from $12.96 to $13.37 and maintained the 41 cent range of the prior three weeks.
Forward booking prices for 2011 crop beans gained 2 cents over the weekend, opening on Monday at $13.04 (Figure 2, below). Forward booking price added 14 cents on Tuesday, to reach $13.18 before declining on each remaining trading day. Overall, the market fell 25 cents from the previous Friday close, ending the week at $12.77. The Thursday and Friday price averages were the first sub-$13.00 marks since May 16. West Memphis topped the individual market quotes at $13.35 on Tuesday with all other markets at least 5 cents behind. Lowest daily price quote of the week came on Friday at Wynne with a price of $12.59. Augusta was only a cent better at $12.60 on that same day. The price margin premium on cash market old crop beans over new crop booking prices widened back to 39 cents, a 12 cent increase in the interval from the previous weekly closing prices. Although both statewide average market prices fell, the increased interval was due to larger losses in the new crop market and represented a return to the immediate post-Memorial Day interval.
(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.)