The Arkansas 2011 soybean crop market suffered a double digit loss over the weekend and a week of mostly positive days ended on a sour note. The market lost 23 cents over the weekend break to open at a $13.86 statewide average on Monday (Figure 1). Gains on Tuesday, Wednesday, and Thursday took market price to a peak average of $14.37 before a 33 cent drop on Friday gave back most of the gains. The market closed with a $14.04 statewide average on Friday, a 5 cent decline overall from the prior week closing average. Five of the fourteen reporting markets were under $14.00 to end the week. West Memphis had the highest individual market price of the week at $14.58 on Thursday. Daily individual market low for the week was $13.63 at Augusta on Monday. Last day individual quotes across all state markets ranged from that $13.81 at Augusta to $14.25 reported at West Memphis. The closing price spread for the state fell from 46 cents on the previous Friday to 44 cents.
New Crop Booking Prices on the 2012 soybean crop showed little momentum for change before falling on Friday to close the week. The old crop market opened with a 26 cent weekend loss to a Monday opening average of $12.97, its first sub-$13.00 day since March 12 (Figure 2). The new crop market hovered within a 13 cent range through the week before falling 23 cents on Friday to $12.91, an overall 32 cent decline from the previous week closing price. High individual daily market quote for the week was at Old Town/Elaine with $13.27 on Thursday. The lowest individual daily average during the week was $12.67 submitted on Friday at Jonesboro. The fourteen reporting markets ended the week with a range of 41 cents from the $12.67 low at Jonesboro to a high of $13.08 at Old Town/Elaine. West Memphis, at $13.05, and Helena at $13.04 were the only other markets closing the week above $13.00. The closing price range was 4 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.)