A 12 cent weekend price gain in the Arkansas 2012 cash soybean market drove the Monday statewide average to $15.36 and daily gains continued through mid-week before a declining trend dropped price back to beginning-of-the-week levels. The market closed on Friday with a statewide average of $15.34, a second straight week with a 10 cent increase from the previous Friday closing average (Figure 1). Pendleton surprised as the highest individual market price of the week with $15.70 on Wednesday. All individual daily market quotes for the week were in the $15.00-$16.00 range. Daily individual low for the week was $15.03 at Augusta on Friday. Quotes of individual markets seemed to vary more from the daily trends than in previous weeks. Last day individual quotes obtained from the fourteen state markets ranged from the $15.03 at Augusta to $15.53 at Little Rock. The quotes kept the closing day price spread for the state at 50 cents, unchanged from the previous Friday.
Quotes on the 2012 crop for January 2013 delivery also posted a 12 cent gain over the weekend for a Monday statewide average of $15.57 with all fourteen markets submitting price quotes (Figure 2). Market price rose more strongly than the cash market, reaching a top on Wednesday of $15.80 before declining for the remainder of the week. The Friday closing average was $15.66, a 21 cent improvement from the previous Friday closing mark. High individual daily market quote for the week was $16.08 at Helena on Wednesday with Old Town/Elaine at $16.07. The lowest individual daily average was $15.13 at Wynne on Monday. Last day individual market quotes found all market prices well above the $15.00 level with Jonesboro providing the bottom at $15.22 and Helena the top at exactly $16.00. Old Town/Elaine closely followed the leader at $15.99. Other strong markets to end the week were Blytheville, West Memphis, and Osceola, all at $15.96. The closing day quotes represented a 78 cent range of prices across the state, a widening of 6 cents from the previous Friday 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.)