The Arkansas 2011 soybean crop market began the past week steady, but quickly moved lower through each remaining days in the week (Figure 1). The market average opened on Monday at a $12.31 statewide average, 37 cents above the prior Friday closing average. Market price first fell on Wednesday and dropped steadily to a Friday closing statewide average of $11.61. Highest reported individual market daily average during the week was $12.50 at West Memphis on Tuesday, the only individual market quote in the state to reach that level. Individual market daily low for the week was $11.32 at Jonesboro on Friday with Wynne at $11.36. Last individual trading day quotes for all markets ranged from the $11.32 at Jonesboro to $11.83 per bushel at West Memphis. This result was the first day that all fourteen reporting markets closed the week under the $12.00 level.
The New Crop Booking Prices on the 2012 soybean crop increased slightly Tuesday from the Monday opening average of $11.97 before going into a steep decline through the end of the week (Figure 2). The market opening day average was 31 cents above the previous Friday closing average. Price quotes reached $11.99 on Tuesday before sliding to a Friday closing daily statewide average of $11.46. Individual daily market quotes were led by West Memphis at $12.21 on Tuesday. Old Town/Elaine was the next highest market at $12.18 on the same day of the week. Lowest individual daily average during the week was $11.25 at Wynne on Friday with Jonesboro at $11.28. All other markets ended the week between $11.40 and $11.65. The price range to end the week for all individual markets reached from the $11.25 at Wynne to $11.65 at both West Memphis and Old Town/Elaine.
(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.)