An 8 cent weekend gain in the Arkansas 2011 soybean crop market was completely lost by midweek as the market generally moved lower before making a slight recovery in Friday trading (Figure 1). The statewide market average to end the week was $14.81, a 19 cent decline from the prior week closing average. Only one market within the state remained above $15.00 with Old Town/Elaine at $15.03. The next closest quotes were West Memphis at $14.95 and Helena at $14.94. The highest daily individual market quote of the week was $15.31 at Old Town/Elaine on Monday. Daily individual market low for the week was $14.53 at Jonesboro on Thursday. Last day individual quotes across all state markets ranged from $14.57 at Jonesboro to the $15.03 reported at Old Town/Elaine. The closing price spread for the state remained unchanged at 46 cents for the fourth consecutive week.
New Crop Booking Prices on the 2012 soybean crop built on a 20 cent weekend gain to move higher through Tuesday before falling sharply on Wednesday and going flat for the remainder of the week (Figure 2). The market peaked on Tuesday with a statewide average of $13.94 before falling to $13.69 on Wednesday and eventually finishing the week on Friday at $13.67, an overall 7 cent improvement from the previous week closing price. High individual daily market quote for the week was at Helena with $14.13 on Tuesday. The lowest individual daily average during the week was $13.41 submitted on Friday at Jonesboro. The fourteen reporting markets ended the week with a range of 42 cents from a low of $13.41 at Jonesboro to the high of $13.83 at Helena. The closing price range was 1 cent 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.)
(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.)