The Arkansas 2011 soybean crop market took a step back from its previous week gains. A 7 cent weekend loss was followed by another sharp decline on Tuesday before the market steadied itself and seemed to reluctantly move back up toward its Monday open level (Figure 1). The statewide average opened on Monday at $13.71 and bottomed at $13.49 before recovering to a Friday closing statewide average of $13.69. The closing price left an overall loss of 9 cents from the previous Friday closing mark. Highest reported individual market daily average during the week was $13.93 at West Memphis on Monday with Old Town/Elaine at $13.92. Individual market daily low for the week was $13.24 at Jonesboro on Tuesday. Last day individual trading quotes across all markets ranged from $13.45 at Jonesboro to $13.91 per bushel at Old Town/Elaine as the closing price spread lost 1 cent from 47 cents to 46 cents.
The New Crop Booking Prices on the 2012 soybean crop were more moderate in movement for the week as they lost 2 cents over the weekend and opened on Monday at a statewide average of $13.22. The market then floundered unsteadily for most of the week before regaining 11 cents on the last day of trade to reach a closing mark of $13.19 on Friday (Figure 2). The closing statewide average represented a 5 cent overall loss from the previous Friday closing price as the market reversed an eight week upward trend. Individual daily market quotes were led by West Memphis at $13.37 on Monday. Helena and Old Town/Elaine followed closely at $13.36. Lowest individual daily average during the week was $12.77 on Tuesday at Wynne. All but two of the fourteen reporting markets ended the week above $13.00 with a price range from $12.93 at Wynne to $13.33 at Helena and Old Town/Elaine. The 40 cent closing price range exactly matched 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.)