What a difference a day makes! The Arkansas 2011 soybean crop market got a 14 cent upswing over the weekend from its prior Friday close to open on Monday at $13.83. Joy was short lived as prices immediately went into a weeklong swoon to a Thursday low of $13.59. But the losses were all wiped off the board on Friday as a 47 cent gain took the old crop trade above $14.00 for the first time since Labor Day weekend (Figure 1). The statewide average closed on Friday at $14.06. The price represented an overall gain of 37 cents from the previous Friday close. Highest individual daily market average during the week was $14.28 at Old Town/Elaine on Friday with $14.23 at West Memphis. Daily individual market low for the week was $13.35 at Jonesboro on Thursday. Last day individual quotes across all markets ranged from $13.82 at Jonesboro to $14.23 at Old Town/Elaine. The closing price spread fell to 41 cents with nine markets above $14.00.
The New Crop Booking Prices on the 2012 soybean crop only gained 7 cents over the weekend break and opened at $13.26 on Monday. New crop quotes fell more slowly than old crop trading prices, but also had a huge recovery on Friday to a closing mark of $13.52 on Friday (Figure 2). The closing statewide average represented a 33 cent overall gain from the previous Friday closing price. Individual daily market quotes were led by Old Town/Elaine at $13.68 on Friday with West Memphis and Helena following at $13.63. Lowest individual daily average during the week was $12.75 on Thursday at Wynne. All fourteen reporting markets ended the week above $13.28 with a price range from $13.28 at Wynne to the $13.68 at Old Town/Elaine. The 40 cent closing price range remained unchanged for the second straight week.
(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.)