A 3 cent loss over the extended Easter weekend sent the Arkansas 2011 soybean crop market into an early week decline that eventually was turned on Thursday on the way to an overall weekly gain (Figure 1). The market opened at $14.34 on Monday and fell to a low of $14.25 on Wednesday before recovering all of its losses Thursday and closing on Friday with a statewide average of $14.40. The Friday statewide average closing price was a 3 cent improvement over the prior week closing average and established another new high since early booking quotes began in January 2011. Highest individual daily market average for the week was $14.66 at Old Town/Elaine on Thursday. Daily individual market low for the week was $14.01 at Jonesboro on Wednesday. Last day individual quotes across all markets ranged from $14.16 at Jonesboro to $14.62 at Old Town/Elaine. The closing price spread remained unchanged from the previous week range at 46 cents.
Fig. 1
New Crop Booking Prices on the 2012 soybean crop were generally lower throughout the week with only a brief recovery on Thursday (Figure 2). The market opened at $13.74 on Monday, unchanged from the previous week close. New crop quotes fell to a $13.51 low statewide average on Wednesday. The Thursday gain of 14 cents was almost entirely wiped away by an 11 cent drop on Friday to the $13.54 closing statewide average. The closing average represented a 20 cent overall decline from the previous week closing price. High individual daily market quotes for the week were led by Old Town/Elaine and Helena at $13.87 on Monday. West Memphis trailed by a single cent at $13.86. Lowest individual daily average during the week was $13.29 submitted on Wednesday at Wynne and Jonesboro. All fourteen reporting markets ended the week at or below $13.67 with a price range from $13.32 at both Jonesboro and Wynne to the $13.67 at West Memphis, Helena and Old Town/Elaine. The 35 cent closing price range was unchanged from the previous week.
Fig. 2
(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.)
