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.
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.
(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.)