The 2011 soybean crop market price fell 10 cents from the previous Friday closing mark and posted a $15.82 statewide average on Monday. A substantial Tuesday gain was quickly lost through the remaining midweek trading before a strong Friday recovery that drove the final day trading average to $15.93, an overall 1 cent gain from the previous Friday closing average (Figure 1). Old Town/Elaine had the highest individual market price of the week at $16.12 on Wednesday. Daily individual market low for the week was $15.29 at Augusta on Thursday. Last day individual quotes across the eight reporting state markets ranged from $15.64 at Augusta to $16.05 at Helena. Those quotes put the closing day price spread for the state at 41 cents, a 3 cent widening from the previous Friday range.
The new crop booking market lost 12 cents over the weekend break and opened past week trading at a $15.82 Monday statewide average, exactly the same as the old crop market. Tuesday strengthened the price 5 cents before a midweek double-digit fall that reached $15.49 on Wednesday before a strong Friday rally that recovered all of the in-week losses (Figure 2). The Friday closing average was $15.82, the same level as Monday and a 10 cent decline from the prior Friday closing mark. High individual daily market quote for the week was $16.12 at Old Town/Elaine on Tuesday. The lowest individual daily average was $15.16 at Jonesboro on Wednesday. Last day individual market quotes ranged from a low at Jonesboro of $15.54 to a high of $16.03 at Helena. Blytheville at $16.02 and Old Town/Elaine at $16.01 followed closely to the high and were the only other markets to end the week at or above $16.00. The range of last day prices expanded 1 cent to 49 cents, compared to the prior Friday price spread.
(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.)