The Arkansas 2011 soybean crop market moved higher this week, regaining the steady, upward trend of past weeks a steady one (Figure 1). The cash old crop market gained a robust 24 cents over the weekend and opened with a Monday average of $12.62. Price increases were posted on three of the remaining four trading days to the Friday closing statewide average of $12.77, an overall gain of 39 cents from the previous Friday closing average. Highest reported individual market daily average during the week was $12.96 at both Helena and West Memphis on Friday with Osceola and Blytheville right behind at $12.95. Individual market daily low for the week was $12.31 at Jonesboro on Monday as markets closed in on $13.00 to end the week. Last day individual trading quotes across all reporting markets ranged from $12.47 at Jonesboro to $12.96 per bushel at Helena and West Memphis as the closing price spread narrowed further from 51 cents to 49 cents.
The New Crop Booking Prices on the 2012 soybean crop gained 19 cents over the weekend to open at $12.51 on Monday and moved slightly higher most days before closing at $12.58, a 26 cent overall gain from the previous Friday closing price (Figure 2). The market closing average on Friday represented the fourth straight week with an overall improvement. Individual daily market quotes were led by Helena and Old Town/Elaine at $12.72 on Friday with West Memphis at $12.71. Lowest individual daily average during the week was $12.25 on Thursday at Wynne. All markets ended the week above $12.32 with a price range from $12.32 at Wynne to the $12.72 at both Helena and Old Town/Elaine. The current 40 cent price range represented a second straight week of 2 cent narrowing 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.)