Starting slow and finishing strong was the theme in the Arkansas 2012 cash soybean market for the past week. The market posted a Monday opening statewide average of $14.88, 3 cents above the previous Friday closing mark. Following no real movement over the first three days of the week, price gained traction and finished steadily higher each trading day. The Friday closing average was $15.11, the first week with a closing average over $15.00 since November 2 (Figure 1). The Friday average represented a 26 cent improvement over the prior Friday price. Helena lead the way with $15.48 on Friday. Blytheville and Old Town/Elaine followed closely at $15.46. The lowest market price of the week was $14.45 at Jonesboro on Tuesday. Augusta was at $15.46 and Des Arc at $15.47 on the same day. Individual quotes on the last trading day had nine of the fourteen reporting markets at or above $15.00. Price ranged from the low of $14.69 at Jonesboro to the $15.48 high at Helena. The closing day price spread widened 2 cents from the previous week to a 79 cent range.
Quotes on the 2012 crop for January 2013 delivery strengthened 3 cents over the weekend to an opening statewide average of $15.04 on the past Monday. The market generally remained steady through Wednesday before rising sharply to eventually reach $15.27 on Friday (Figure 2). High individual daily market quote for the week was $15.50 on Friday at West Memphis. The lowest individual daily average was $14.67 at Augusta on Tuesday. The last day of trading quotes ranged from a $14.91 low at Augusta, the only market under $15.00 to the high of $15.50 at West Memphis. These quotes put the statewide closing day price range at an even 50 cents, a 6 cent narrowing 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.)