The 2011 soybean crop market opened the past week just one cent lower from the previous Friday close and moved sharply higher to a $14.25 average on Tuesday before sliding lower each remaining day (Figure 1). The statewide average daily price closed on Friday at $13.66, a 50 cent decline from the prior week closing average. Only one of the fourteen reporting markets, West Memphis, ended the week above the $14.00 level. West Memphis also had the highest individual market price of the week at $14.67 on Tuesday. Daily individual market low for the week was $13.35 at Jonesboro on Friday. Last day individual quotes across all state markets ranged from $13.35 at Jonesboro to the $14.06 reported at West Memphis. The closing price spread for the state changed little from the previous Friday, one cent narrower at 71 cents.
New Crop Booking Price movements on the 2012 soybean crop had smaller daily movements than the old crop market after losing 2 cents over the weekend to open at $13.34 on Monday. Prices moved up 6 cents on Tuesday to post the weekly high of $13.40, but then slumped through the remainder of the week before making a small rally on Friday to a closing average of $13.17 (Figure 2). The new crop market finish represented an overall 19 cent fall from the previous week closing price. High individual daily market quote for the week was at Old Town/Elaine with $13.57 on Tuesday. Helena and West Memphis followed closely at $13.53 and $13.51 respectively. The lowest individual daily average during the week was $12.93 submitted on Thursday at Jonesboro with Wynne at $12.94. The fourteen reporting markets ended the week again with a range of 36 cents from the $12.98 low at Jonesboro to a high of $13.34 at Old Town/Elaine. The closing price range was unchanged 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.)