A weekend decline of 49 cents put the 2011 soybean crop market at a Monday opening average of $15.99. The loss continued on Tuesday reaching a bottom daily average of $15.77 before rallying through Friday to a closing statewide average of $16.55 (Figure 1). The closing mark represented a 7 cent overall gain from the prior Friday closing mark. Quotes continued to be received from only eight of the fourteen established markets. West Memphis had the highest individual market price of the week at $16.74 on Friday. Daily individual market low for the week was $15.60 at Augusta on Tuesday. Last day individual quotes across the eight reporting state markets ranged from $16.74 at West Memphis to $16.32 at Augusta. The closing day price spread for the state was 42 cents, a 21 cent narrowing from the previous Friday range.
The New Crop Booking Prices on the 2012 soybean crop declined less (42 cents) than the old crop market and opened at a statewide average of $15.86 on Monday. New Crop daily averages moved lower by 20 cents on Tuesday before rallying the remainder of the week to a Friday closing average of $16.44, a 13 cent gain from the previous week closing price (Figure 2). High individual daily market quote for the week was $16.64 at West Memphis on Friday. The lowest individual daily average during the week was $15.44 at Wynne on Tuesday. Unlike the old crop market, all locations continued to provide reports each day. The closing day market prices varied from a $16.22 low at Wynne to the $16.64 high at West Memphis. The range of last day prices widened to 42 cents, a 4 cent increase from the previous Friday quotes.
(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.)