The July 4thextended weekend found Arkansas 2010 crop soybean markets gaining 8 cents to open at $13.26 and setting the stage for price improvements each day of the abbreviated trading week (Figure 1). The market gained at least 3 cents each day before reaching its Friday closing mark of $13.56, an overall gain of 38 cents from the previous week close. Highest reported individual market daily average for the current week was $13.72 on Friday at Old Town/Elaine. Blytheville and Osceola followed closely at $13.60 on the same day. Lowest individual market daily average was on Tuesday with Augusta at $13.05. Both Jonesboro and Wheatley were only slightly higher that day reporting $13.08. The old crop market began to thin this trading week with only eight of the fourteen major markets providing quotes past Tuesday. Last trading day quotes for all Arkansas reporting markets were $13.33 to $13.72, narrowing the range to 39 cents from the 41 cent gap seen in each of the previous four weeks.
Forward booking prices for 2011 crop beans gained 5 cents over the holiday weekend, opening on Monday at $12.88 (Figure 2). The market saw gains each trading day and ended the week at $13.21, a 38 cent improvement from the previous Friday closing price. Helena and Old Town/Elaine topped the individual market quotes at $13.37 on Friday. Wynne, at $12.97, was the only market with a sub-$13.00 Friday closing price. Lowest daily price quote of the week came on Tuesday at Wynne with a price of $12.68. The price margin premium on cash market old crop beans over new crop booking prices remained at 35 cents, the same as the previous week.
(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.)