Momentum found in a 10 cent weekend gain for the 2010 crop Arkansas cash market quickly lost steam as the week progressed, eventually leading to a late week collapse day followed by a Friday recovery day (Figure 1). The market opened at $13.26 and reached a high for the week of $13.30 before losing 28 cents in Thursday trading. Old crop price regained 16 cents on Friday to close at $13.18, an overall gain of 2 cents from the previous week close. Highest reported individual market daily average for the current week was $13.51 on Wednesday at both Osceola and Blytheville. Lowest individual market daily average was on Thursday with both Jonesboro and Wheatley at $12.28. Augusta and Des Arc were at $12.86. Last trading day quotes for all Arkansas reporting markets ranged from $12.98 to $13.39, continuing the 41 cent range for the fourth straight week.
Forward booking prices for 2011 crop beans gained 6 cents over the weekend, opening on Monday at $12.83 (Figure 2). The market saw steady daily gains through Wednesday before losing 29 cents on Thursday. Friday was a “bounce back” day with the market regaining 20 cents. Overall, the market gained 6 cents from the previous Friday close, ending the week at $12.83. West Memphis topped the individual market quotes at $13.08 on Wednesday with Pendleton, Stuttgart, and Helena markets also at or above $13.00. Lowest daily price quote of the week came on Thursday at Wynne with a price of $12.44. The price margin premium on cash market old crop beans over new crop booking prices narrowed to 35 cents, a 4 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.)