The 2011 soybean crop market declined 44 cents over the weekend to a Monday opening average of $16.11, but the loss was grudgingly recovered through the trading week to a Friday closing statewide average of $16.58, a 3 cent improvement from the prior Friday closing average (Figure 1). Quotes continued to be received from only eight of the fourteen established markets. The high and low quote days matched the previous week. West Memphis had the highest individual market price of the week at $16.78 on Friday. Daily individual market low for the week was $15.86 at Augusta on Tuesday. Last day individual quotes across the eight reporting state markets ranged from the $16.78 at West Memphis to $16.29 at Augusta. Those quotes put the closing day price spread for the state at 49 cents, a 7 cent widening from the previous Friday range.
The New Crop Booking Prices movements on the 2012 soybean crop looked like a mirror image of the old crop market pattern. The new crop booking price duplicated the 44 cent weekend decline of the old crop and opened at a statewide average of $16.00 on Monday. The New Crop daily average was marginally lower on Tuesday before enjoying a jerky rally the remainder of the week to a Friday closing average of $16.45, a 1 cent gain from the previous week closing price (Figure 2). High individual daily market quote for the week was $16.66 at West Memphis on Friday. The lowest individual daily average during the week was $15.76 at Wynne on Tuesday. All fourteen major market locations continue to provide reports each day. The closing day market price low was $16.22 at Augusta with Wynne at $16.24 and Jonesboro at $16.25. The closing day high was the $16.66 at West Memphis. The range of last day prices widened to 44 cents, a 2 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.)