The Memorial Day holiday weekend boosted the 2011 soybean crop market with a 5 cent gain to a Monday opening average of $13.79, but price turned lower like the previous week before stabilizing over the last two trading days (Figure 1). The statewide average daily price fell to a low of $13.32 on Thursday before rising on Friday to close at $13.35, a 39 cent decline overall from the prior week closing average. Only one of the fourteen reporting markets ended the week above $13.50. West Memphis had the highest individual market price of the week at $14.04 on Tuesday. Daily individual market low for the week was $13.08 at Augusta on Thursday. Last day individual quotes across all state markets ranged from $13.12 at Augusta to $13.59 reported at Old Town/Elaine. The closing price spread for the state narrowed two cents from the previous Friday to 47 cents.
New Crop Booking Prices on the 2012 soybean crop gained 5 cents over the holiday weekend and opened the week with a Tuesday statewide average of $12.97, but market price weakened steadily through the remainder of the week (Figure 2). The new crop market finished at a weekly low of $12.60 on Friday, an overall 32 cent loss from the previous week closing price. High individual daily market quote for the week was at Old Town/Elaine with $13.14 on Tuesday. The lowest individual daily average during the week was $12.37 submitted on Friday at Jonesboro. The fourteen reporting markets ended the week again with a range of 41 cents from the $12.37 low at Jonesboro to a high of $12.78 at Old Town/Elaine. The closing price range was unchanged for the third consecutive week.
(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.)