A huge 41 cent weekend increase from the previous Friday close sent the 2011 soybean crop market over the $16.00 mark with a Monday statewide opening average of $16.09. The market then turned lower for most of the week before rallying on Friday to close at $15.98, a 30 cent overall improvement for the week (Figure 1). Seven of the fourteen reporting markets ended the week above the $16.00 level. Helena had the highest individual market price of the week at $16.40 on Monday with Blytheville and Osceola at $16.38. Daily individual market low for the week was $15.31 reported at Jonesboro on Wednesday. Last day individual quotes across all state markets ranged from $15.54 at Jonesboro to the $16.28 reported at Helena. The closing day price spread for the state was 74 cents, a second week of 4 cent widening from the previous Friday range.
Fig. 1
New Crop Booking Prices on the 2012 soybean crop posted a 42 cent improvement over the weekend followed by a slump through midweek, but recovered more strongly than the old crop market to post an overall gain for the in-week trading (Figure 2). New Crop opened at $15.53 on Monday. Prices declined to a daily low of $15.29 on Wednesday before a two day rally to close the week at $15.59, a 48 cent improvement from the previous week closing price. High individual daily market quote for the week was $15.76 at Helena on Friday. The lowest individual daily average during the week was $15.07 submitted on Wednesday at Jonesboro. As these prices imply, all markets remained above the $15.00 level throughout the past week. The fourteen reporting markets also all ended the week at or above $15.00 for the first time in the season. The closing day range of market prices was 39 cents from a $15.37 low at both Wynne and Jonesboro to the high of $15.76 at Helena, a 2 cent wider gap than the previous week.
Fig. 2
(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.)
