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.
Fig. 1
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.
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.)
