Down the drain went the Arkansas 2012 cash soybean market for most of the past week. The Monday opening statewide average of $15.12 was 1 cent above the previous Friday closing mark, but the market quickly began to fall steadily each trading day. Only a 12-22 cent rally on Friday broke the downward trend. The Friday closing average was $14.46, a loss of 65 cents from the previous Friday closing mark (Figure 1). West Memphis posted the highest individual daily market price of the week at $15.53 on Monday. The lowest market price of the week was $13.81 at Jonesboro on Thursday with Des Arc following closely at $13.83. Individual quotes on the last trading day had all fourteen reporting markets at or above $14.00. Price ranged from the low of $14.03 at Jonesboro to a high of $14.85 at both Blytheville and West Memphis. The closing day price spread widened 3 cents from the previous week to an 82 cent range.
Arkansas soybean cash market losses carried over to the 2012 crop for January 2013 delivery market although not as large in size. The forward booking market opened the week at $15.27, unchanged from the prior Friday average. The market deteriorated sharply through the week before enjoying a 10-22 cent rally on Friday. The statewide average for the last trading day was $14.62 in the forward booking market, a 55 cent decline from the previous Friday mark (Figure 2). High individual daily market quote published by NASS for the week was $15.68 on Thursday at West Memphis. Given the reported daily trends, that quote might have been an error with $14.68 the more likely price at that location. The lowest individual daily average was $14.17 at Augusta on Thursday. The last day of trading quotes ranged from a $14.27 low at Augusta to the high of $14.85 at West Memphis. These quotes put the statewide closing day price range at 58 cents, an 8 cent widening 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.)