Powered by a 38 cent weekend increase from the previous Friday close, the 2011 soybean crop market opened on Monday with a statewide opening average of $16.36. The market then surged higher each trading day of the week to a Friday closing mark of $17.58, a $1.60 cent overall improvement for the week (Figure 1). All fourteen reporting markets ended the week above the $17.00 level. Helena had the highest individual market price of the week at $17.90 on Friday with Blytheville and Osceola at $17.88. Daily individual market low for the week was $15.92 reported at Jonesboro on Monday. Last day individual quotes across all state markets ranged from $17.06 at Old Town/Elaine to the $17.90 reported at Helena. The closing day price spread for the state was 84 cents, a 10 cent expansion from the previous Friday range.
Fig. 1
New Crop Booking Prices on the 2012 soybean crop posted a 37 cent improvement over the weekend to open with a statewide average of $15.96 on Monday. New Crop initially hesitated to follow the old crop surge, holding steady on Tuesday, but then followed a straight-line climb for the remainder of the week (Figure 2). Price finished the week at $16.92 on Friday, a $1.32 gain from the previous week closing price. High individual daily market quote for the week was $17.09 at Helena on Friday. West Memphis was right behind at $17.08. The lowest individual daily average during the week was $15.74 on both Monday and Tuesday at Jonesboro. Wynne was at $15.75 both days. Five of the fourteen reporting markets ended the week above $17.00. Despite the steep gains during the past week, the closing day range of market prices remained at 39 cents for the second straight week. The $16.70 low at Jonesboro and the high of $17.09 at Helena formed the extremes of the range.
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.)
