A 58 cent weekend crash from the previous Friday close was a shadow of things to come in the 2011 soybean crop market as it opened the week on Monday with a statewide average of $17.00 and then fluctuated through each trading day on an overall decline to a Friday closing mark of $16.65, a $0.93 cent loss for the week (Figure 1). Five markets did not submit Friday quotes, another disturbing development. Only one of the nine reporting markets ended the week above the $17.00 level. Helena had the highest individual market price of the week at $17.32 on Monday with Blytheville and Osceola at $17.30 and Wynne at $17.29. Daily individual market low for the week was $15.83 at Old Town/Elaine on Thursday. Last day individual quotes across reporting state markets ranged from $17.04 at Little Rock to $16.43 at Jonesboro. The closing day price spread for the state was 61 cents, a 23 cent contraction from the previous Friday range.
Fig. 1
New Crop Booking Prices on the 2012 soybean crop suffered a 65 cent decline over the weekend to open with a statewide average of $16.27 on Monday. New Crop daily averages fluctuated wildly up and down through the week, eventually finishing at $16.06 on Friday, an 86 cent decline from the previous week closing price (Figure 2). High individual daily market quote for the week was $16.45 at Helena on Monday. Old Town/Elaine followed at $16.42. The lowest individual daily average during the week was $15.46 at Wynne on Thursday. Five of the fourteen reporting markets ended the week under $16.00. The closing day range of market prices expanded to 43 cents, a 4 cent increase. A $15.80 low at Wynne and $16.23 high at Helena marked 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.)
