The Arkansas 2011 soybean crop market declined over the second straight weekend, this time by 17 cents, to open with a $14.23 statewide average on Monday (Figure 1). Market price lost early week momentum and declined to a $14.11 daily average on Wednesday before finishing strongly to a new seasonal high average of $14.50 on Friday. The Friday statewide average closing price was a 10 cent improvement over the prior week closing average. Highest individual daily market average for the week was $14.72 at Old Town/Elaine on Friday. Daily individual market low for the week was $13.87 at Jonesboro on Wednesday. Last day individual quotes across all state markets ranged from $14.26 at Jonesboro to $14.72 at Old Town/Elaine. The closing price spread remained at 46 cents, unchanged from the previous two weeks.
New Crop Booking Prices on the 2012 soybean crop lost 11 cents over the weekend to open at $13.43 (Figure 2). The market was uneven early and fell to a low of $13.31 on Wednesday before recovering strongly to a $13.49 daily average on Friday. The closing average represented a 5 cent overall decline from the previous week closing price. High individual daily market quotes for the week were led by Old Town/Elaine at $13.66 on Friday. West Memphis and Helena were the only other markets exceeding $13.60. The lowest individual daily average during the week was $13.08 submitted on Wednesday at Jonesboro. The fourteen reporting markets ended the week with a range of 43 cents from a low of $13.23 at Wheatley to the $13.66 at Old Town/Elaine. The closing price range was 8 cents wider than the previous week span.
(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.)