A 15 cent increase over the weekend took the Arkansas 2011 soybean crop market to a level not seen since September (Figure 1). The cash old crop market opened on Monday at an average of $13.03, topping the $13.00 level for the first time in 2012. Market price increased each remaining trading day reaching a Friday closing statewide average of $13.38, an overall gain of 50 cents from the previous Friday closing average. Highest reported individual market daily average during the week was $13.57 at Helena on Friday with West Memphis at $13.56 and both Osceola and Blytheville at $13.55. All markets finished the week above the $13.12 level. Individual market daily low for the week was $12.73 at Jonesboro on Monday. Last day individual trading quotes across all reporting markets ranged from $13.12 at Jonesboro to $13.57 per bushel at Helena as the closing price spread narrowed sharply from 56 cents to 45 cents.
The New Crop Booking Prices on the 2012 soybean crop gained 10 cents over the weekend to open on Monday at a statewide average of $12.77. The market then proceeded to post gains of 1 to 7 cents on each remaining trading day (Figure 2). The Friday closing statewide average was $12.94, a 27 cent overall gain from the previous Friday closing price. The market closing average on Friday represented the sixth straight week with an overall improvement. Individual daily market quotes were led by Helena at $13.09 with Old Town/Elaine at $13.08 on Friday. Lowest individual daily average during the week was $12.51 on Monday at Wynne. All markets ended the week above $12.68 with a price range from $12.68 at Wynne to the $13.09 at Helena. The 41 cent closing price range represented a 1 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.)