The July 23-24 weekend period for Arkansas 2010 crop soybean markets saw a sharp, 16 cent decline to open the past week at $13.66 (Figure 1). The market gained ground on its second trading day before entering a steady, daily decline through the end of the week. Friday, July 29 markets closed out the month at $13.57. Despite the generally lower ending week, July saw an overall gain of 55 cents from the June 30 closing price. Highest reported individual market daily average for the past week was $13.94 at both Blytheville and Osceola on Tuesday. Helena and Old Town/Elaine followed closely at $13.93. Lowest individual market daily average was $13.28 reported on Friday at Augusta. Only six of 14 state market points were still providing old crop bean quotes as of Friday. Wynne and Little Rock markets dropped out this past week. Last trading day quotes for all Arkansas reporting markets were $13.28 to $13.67, narrowing the 59 cent prior week difference back to the 39 cent gap of earlier reporting periods.
Forward booking prices for 2011 crop beans moved in close step with old crop markets over the weekend, opening 15 cents lower on Monday at $13.49 (Figure 2). The market gained on Tuesday before sliding lower each remaining trading day of the week. The Friday close at $13.33 represented a 31 cent decline from the prior Friday closing price. Helena and Old Town/Elaine topped all individual market quotes for the period, reaching $13.79 on Tuesday. Wynne, at $13.07 on Friday, had the lowest daily price quote of the week. The price margin premium on cash market old crop beans over new crop booking prices expanded to 24 cents to end the week, an increase of 6 cents from the previous Friday closing gap.
(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.)