The Arkansas 2011 soybean crop market held basically a steady trend in the past week after having a previous week of steady price improvement (Figure 1). The cash old crop market lost only two cents over the weekend and opened with a Monday average of $12.42. Prices stayed within a 5 cent range through every trading day before closing the week on Friday at a $12.38, an overall loss of 6 cents from the previous Friday closing average. Highest reported individual market daily average during the week was $12.63 at both Old Town/Elaine and West Memphis on Monday. Individual market daily low for the week was $12.07 at Jonesboro on Thursday as all markets stayed above $12.00 for the entire week. Last day individual trading quotes across all reporting markets ranged from $12.08 at Jonesboro to $12.59 per bushel at Old Town/Elaine as the closing price spread narrowed further from 53 cents to 51 cents.
The New Crop Booking Prices on the 2012 soybean crop gain 3 cents over the weekend to open at $12.31 on Monday, but remained within a 2 cent range all week before closing at $12.32, a 4 cent overall gain from the previous Friday closing price (Figure 2). The market closing average on Friday represented the third straight week with an overall improvement. Individual daily market quotes were led by Helena and Old Town/Elaine at $12.51 on Tuesday. No other individual markets cracked the $12.50 level at any time during the week. All fourteen individual markets provided quotes for the second straight week. Lowest individual daily average during the week was $12.07 on Monday and Thursday at Jonesboro. All markets ended the week above $12.08 with a price range from $12.08 at Jonesboro to the $12.50 at both Helena and Old Town/Elaine. The 42 cent range represented a 2 cent decrease 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.)