The 2011 soybean crop market opened the past week with an 8 cent gain from the previous Friday close at $13.74 and moved sharply higher to a $14.37 average on Wednesday before leveling off in the remaining days (Figure 1). The statewide average daily price closed on Friday at $14.33, a 67 cent increase from the prior week closing average and the highest closing day average since May 4. All fourteen reporting markets ended the week above the $14.00 level. West Memphis had the highest individual market price of the week at $14.75 on Wednesday. Daily individual market low for the week was $13.43 at Jonesboro on Monday. Last day individual quotes across all state markets ranged from $14.02 at Jonesboro to the $14.68 reported at both West Memphis and Old Town/Elaine. The closing day price spread for the state narrowed to 66 cents, 5 cents less than the previous Friday.
New Crop Booking Price movements on the 2012 soybean crop were more erratic than the old crop market after gaining 25 cents over the weekend to open at $13.42 on Monday. Prices moved up further on both Tuesday and Wednesday to a mid-week high of $14.01, but then were up and down through the remaining trading days. The market average on Friday posted a closing average of $13.81 (Figure 2). The new crop market finish represented an overall 64 cent gain from the previous week closing price. High individual daily market quote for the week was at $14.16 at both Old Town/Elaine and West Memphis with Helena just one cent lower. The lowest individual daily average during the week was $13.23 submitted on Monday at Jonesboro with Wynne at $13.24. The fourteen reporting markets all ended the week at or above $13.00 for the first time since May 11. The closing day range of market prices was 37 cents from the $13.60 low at Jonesboro to a high of $13.97 at Helena, a change of one cent 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.)