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.
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.
(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.)