The Arkansas 2011 soybean crop market got an 18 cent upswing over the weekend from its prior Friday close and opened the Easter-shortened trading week at $13.24 in Monday trading. Prices remained basically unchanged for most of the short week before gaining steam on Thursday to a closing statewide average of $14.37 (Figure 1). The Thursday statewide average closing price was a 31 cent improvement over the prior Friday closing average and the highest seen to date on the 2011 crop including early booking quotes beginning in January 2011. Highest individual daily market average for the week was $14.59 at Old Town/Elaine on Thursday. Daily individual market low for the week was $13.96 at Jonesboro on Tuesday. Jonesboro’s Wednesday $13.99 quote was the only other daily quote under $14.00 over the week. Last day individual quotes across all markets ranged from $14.13 at Jonesboro to $14.59 at Old Town/Elaine. The closing price spread expanded 5 cents from the previous week range to 46 cents.
The New Crop Booking Prices on the 2012 soybean crop charged upward 26 cents over the weekend break and opened at $13.78 on Monday. New crop quotes tried to hold the gain throughout the week and eventually closed on Thursday at $13.74 (Figure 2). The closing statewide average represented a 22 cent overall gain from the previous Friday closing price, but were 4 cents under the Monday average. High individual daily market quotes for the shortened week were led by Old Town/Elaine and Helena at $13.90 on Monday. Lowest individual daily average during the week was $13.46 submitted on Wednesday at Wynne. All fourteen reporting markets ended the week at or below $13.87 with a price range from $13.52 at both Jonesboro and Wynne to the $13.87 at Helena and Old Town/Elaine. The 35 cent closing price range was 5 cents narrower than the previous two weeks.
(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.)