A 2 cent weekend loss in the 2011 soybean crop market was easily offset by solid daily gains through most of the past week moving from a Monday opening average of $13.33 to weekly high of $14.18 on Thursday before leveling off (Figure 1). The statewide average daily price closed on Friday at $14.16, an 81 cent improvement overall from the prior week closing average. Only two of the fourteen reporting markets ended the week under the $14.00 level. West Memphis had the highest individual market price of the week at $14.59 on Thursday. Daily individual market low for the week was $13.08 at Augusta on Monday. Last day individual quotes across all state markets ranged from $13.85 at Jonesboro to $14.57 reported at West Memphis. The closing price spread for the state broadened dramatically to 72 cents from the previous Friday spread of 47 cents.
New Crop Booking Price movements on the 2012 soybean crop were basically a mirror image of the old crop market after gaining 11 cents over the weekend to open at $12.71 on Monday. Prices moved steadily higher through the week to a peak of $13.44 on Thursday before falling back 8 cents to a Friday closing average of $13.36 to end the week (Figure 2). The new crop market finish represented an overall 76 cent gain from the previous week closing price. High individual daily market quote for the week was at Old Town/Elaine with $13.61 on Thursday. The lowest individual daily average during the week was $12.52 submitted on Monday at Jonesboro. The fourteen reporting markets ended the week again with a range of 36 cents from the $13.17 low at Jonesboro to a high of $13.53 at Old Town/Elaine. The closing price range was 5 cents narrower compared to the previous 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.)