The Arkansas 2011 soybean crop market resumed full week trading with an uneventful price movement pattern. Trading opened strong with a $12.24 statewide average on Monday, but stayed within a 10 cent range all week before closing Friday at a $12.28 average (Figure 1). The closing market average represented a 35 cent improvement from the prior Friday closing mark. Highest reported individual market daily average during the week was $12.58 at Old Town/Elaine on Thursday. No other market had a daily quote within 5 cents of this top. Individual market daily low for the week was $11.88 at Jonesboro on Wednesday. Jonesboro was the only market with all daily quotes under $12.00 for the week. Last individual trading day quotes for all markets ranged from $11.93 at Jonesboro to $12.54 per bushel at Old Town/Elaine as the spread increased from 58 cents to 61 cents, the third straight week of increase.
The New Crop Booking Prices on the 2012 soybean crop showed more strength than the old crop cash market with a strong opening day and steady, modest gains each remaining day of the week (Figure 2). The market opening day average was $11.85, 24 cents above the previous Friday closing average. Daily quotes climbed to a weekly high mark of $12.04 on Friday, a 24 cent overall improvement from the previous Friday closing price. Individual daily market quotes were led by Old Town/Elaine at $12.32 on both Thursday and Friday with West Memphis following closely at $12.30 on Friday. Despite the overall daily improvement, four of the nine individual reporting markets still had all trading day averages below $12.00 for the week. Lowest individual daily average during the week was $11.63 at Wynne on Monday with Jonesboro at $11.66. The price range to end the week for all individual markets reached from $11.80 at Jonesboro to the $12.32 at Old Town/Elaine. The 52 cent range represented a 7 cent increase from the previous week closing day.
(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.)