The Arkansas 2011 soybean crop market took a 3 cent weekend loss in stride following last week’s unsteady market and posted a steady week of daily gains (Figure 1). The statewide average opened on Monday at $13.38 and prices moved steadily higher through the week to a Friday closing statewide average of $13.78, an overall gain of 37 cents from the previous Friday closing mark. Highest reported individual market daily average during the week was $14.00 at West Memphis on Friday with Old Town/Elaine at $13.99, the first time over $14.00 since early September 2011. All markets finished the week at or above the $13.53 level. Individual market daily low for the week was $13.14 at Jonesboro on Monday. Last day individual trading quotes across all reporting markets ranged from $13.53 at Jonesboro to $14.00 per bushel at West Memphis as the closing price spread widened slightly from 43 cents to 47 cents.
The New Crop Booking Prices on the 2012 soybean crop had a more moderate uptrend for the week after losing 5 cents over the weekend and opening on Monday at a statewide average of $12.96. The market then proceeded to post gains on 3 of the four remaining days of trade (Figure 2). The Friday closing statewide average was $13.24, a 23 cent overall gain from the previous Friday closing price. The market closing average on Friday represented the eighth straight week with an overall improvement. Individual daily market quotes were led by Helena, Old Town/Elaine and West Memphis, all at $13.38 on Friday. Lowest individual daily average during the week was $12.70 on Monday at Wynne. All but one of the fourteen reporting markets ended the week above $13.00 with a price range from $12.98 at Wynne to the $13.38 at Helena, West Memphis, and Old Town/Elaine. The 40 cent closing price range was just 1 cent narrower than the previous week closing day spread.
(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.)