The Arkansas 2011 soybean crop market continued higher this week after starting on Tuesday due to the Presidents’ Day holiday (Figure 1). The cash old crop market gained 3 cents over the extended weekend and opened with Tuesday at an average of $12.80. Price increases were posted on each remaining trading days to reach a Friday closing statewide average of $12.88, an overall gain of 11 cents from the previous Friday closing average. Highest reported individual market daily average during the week was $13.14 at both West Memphis on Friday. Five markets finished the week above the $13.00 level. Individual market daily low for the week was $12.50 at Jonesboro on Tuesday. Last day individual trading quotes across all reporting markets ranged from $12.58 at Jonesboro to $13.14 per bushel at West Memphis as the closing price spread reversed its pattern from previous weeks and expanded from 49 cents to 56 cents.
The New Crop Booking Prices on the 2012 soybean crop opened steady with the previous Friday close of $12.58 on Tuesday, but then proceed to post gains on each remaining trading day. The Friday closing statewide average was $12.67, a 9 cent overall gain from the previous Friday closing price (Figure 2). The market closing average on Friday represented the fifth straight week with an overall improvement. Individual daily market quotes were led by Helena and Old Town/Elaine at $12.81 on Friday with West Memphis at $12.79. Lowest individual daily average during the week was $12.32 on Thursday at Wynne. All markets ended the week above $12.41 with a price range from $12.41 at Wynne to the $12.81 at both Helena and Old Town/Elaine. The current 40 cent price range represented no change 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.)