The Arkansas 2011 soybean crop market had a super week of price increases as the market shook off a 10 cent weekend decline to open at $14.40 and post impressive gains each trading day (Figure 1). The statewide market average on Friday was exactly $15.00, a 50 cent improvement from the prior week closing average. Several daily market reports had quotes above $15.00 with the highest individual daily market average at $15.22 at Old Town/Elaine on Friday. West Memphis followed closely at $15.20 on the same day. Daily individual market low for the week was $14.16 at Jonesboro on Monday with Wynne at $14.19. Last day individual quotes across all state markets ranged from $14.76 at Jonesboro to $15.22 at Old Town/Elaine. Nine of the fourteen reporting markets ended the week above the $15.00 level. The closing price spread remained at 46 cents for the third consecutive week.
New Crop Booking Prices on the 2012 soybean crop lost 13 cents over the weekend, but posted solid gains through midweek before flattening off (Figure 2). The market peaked on Wednesday with a $13.66 statewide average and finished on Friday at $13.60, an 11 cent improvement from the previous week closing price. High individual daily market quotes for the week were led by Old Town/Elaine and Helena at $13.81 and $13.80, respectively on Wednesday. The lowest individual daily average during the week was $13.12 submitted on Monday at Jonesboro. The fourteen reporting markets ended the week with a range of 41 cents from a low of $13.36 at Jonesboro to the $13.77 at Old Town/Elaine. The closing price range was 2 cents narrower 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.)