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.
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.
(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.)